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Monthly Payroll Processes

This template should be used to when drafting pages about new processes

Purpose:

This document outlines the comprehensive process for the payment of the company's payroll, ensuring accuracy, compliance, and efficiency in managing employee compensation. From collecting timesheets to processing payments and maintaining detailed records, this guide provides a step-by-step approach to executing payroll tasks effectively. By following this structured process, the company can mitigate errors, meet regulatory requirements, and enhance overall payroll management practices. This document serves as a valuable resource for HR personnel, payroll administrators, and anyone involved in payroll processing to ensure smooth and reliable payment disbursal for employees.


Resources:

Relevant links:
New Employee forms:
TFN_declaration_form.pdf
317.2 kB
Superannuation Standard Choice Form.pdf
590.3 kB
Relevant working sheets: -

Process Flow:

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Responsibility Matrix / Timeline:

Table
0
Actions
Owner
Timeline
Comments
1
Collect Employee’s Payroll Information (Bank Details, Superannuation Form, and TFN)
@Inger Nesbakk
AdHoc - Upon Starting Date
Open
2
Provide Finance with the collected information
@Inger Nesbakk
AdHoc - Upon Starting Date
Open
3
Set up employee in Employment Hero
Finance AU
AdHoc - Upon Starting Date
Open
4
Provide Employee with personal access to Employment Hero
Finance AU
AdHoc - Upon Starting Date
Open
5
Process Payrun
Finance AU
T-5
Open
6
Review and Approve Payrun
@Antoine Samarut
T-3
Open
7
Upload ABA File and Request Transfer
Finance AU
T-3
Open
8
Review Bank Transfer and Approve
Finance UK
T-2
Open
There are no rows in this table

Financial Controls:

Financial control measures play a crucial role in ensuring the security, accuracy, and integrity of payroll processes within our organization. Firstly, access to payroll information is strictly limited to authorized personnel, namely the finance manager and COO/CEO, to safeguard sensitive data. Secondly, all payroll documents are securely stored on a Private Google Drive, enhancing confidentiality and accessibility for authorized users. Thirdly, a dual-control mechanism is in place for payroll processing, with one person responsible for preparing the payroll and the finance director responsible for approving it, ensuring checks and balances in the process. Furthermore, our financial control extends to payment requests and approvals, where the finance team in AU initiates payment requests to JP Morgan accounts, and the Finance UK team provides final approval for these payments. This process includes a stringent email-based request for payment approval from finance AU to finance UK, reinforcing accountability and oversight in our financial operations. These control measures not only mitigate risks but also uphold transparency and compliance in managing payroll and financial transactions across global operations.
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