Payroll and benefits specialists handle accounting and finance tasks related to business operation and taxes, especially in regards to filing and distribution of audits, payroll, and W-2s. They maintain payroll data, prepare checks, obtain relevant data (such as salary adjustments), and help prepare W-2s. They may also disseminate information about payroll to staff and conduct trainings as necessary. Customer service skills are sometimes part of this role, as maintaining investment and retirement funds are occasionally required. Depending on the industry, payroll specialists may be employed in human resources, warehouse/shipping (due to experience with operation software, shipping systems, and related systems), or within their own department (payroll). This position is generally full time, although overtime may be required as deadlines approach.
Strong familiarity with tax law is essential in this position, and many employers require prior experience in finance. At least a bachelor's degree in a related discipline is generally required or preferred. Proficiency in certain computer software - as well as experience in accounts payable, accounts receivable, and maintaining a ledger - is necessary. Payroll and benefits specialists must be comfortable with high volumes of raw data, multitasking, independently setting and achieving deadlines, and researching potential investments and clientele. They must have experience handling taxes and be familiar with insurance asset management.
Payroll & Benefits Specialist Tasks
Prepare payroll related journal entries for period-end.
Audit employee timesheets for hours worked and accuracy.
Maintain, prepare and process payroll for organization personnel.
Compile and submit payroll deductions related check requests and payments.
Maintain current knowledge of IRS regulations.