Payroll Accountant Salary
Job Description for Payroll Accountant
Payroll accountants generate, maintain, and interpret various reports and financial statements for the company. Most of their work is performed internally, and adherence to various government standards and company policies is critical. Depending on the size of the company, this work may be performed with a team of other accountants or independently; however, payroll accountants should be flexible enough to work both independently and in a team setting. All work is performed in an indoor office environment during regular business hours, although some overtime may be required due to upcoming deadlines or other business needs.Read More...
The work is generally not physically demanding, although it often requires long hours on computers. The ability to meet strict deadlines and pay excellent attention to detail are needed. Proficiency with basic computer programs such as the Microsoft Office suite are required as well.
Jobs as a payroll accountant are common in a wide variety of companies, with larger businesses often separating the job into various levels. At the highest levels, the position typically requires at least five years' experience in a similar role; lower-level positions may require substantially less experience or be entry level. Most positions also require at least a bachelor's degree in accounting, finance, business administration, or a related field. Other potential qualifications include status as a certified public accountant (CPA), although many companies offer training to obtain this certification to qualified entry-level candidates.
Payroll Accountant Tasks
- Analyze financial data in order to prepare financial reports.
- Utilize accounting principles to report employee earnings; such as salaries, wages, bonuses, and overtime and payroll taxes as well as employer paid benefits; such as vacation and holidays, various insurance and retirement plans.
- Generate and interpret financial records and statements for management.
- Maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
Payroll Accountant Job Listings
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Popular Skills for Payroll Accountant
Survey results suggest that Payroll Accountants put a wide range of professional skills to use. Most notably, skills in Accounting, General Ledger Accounting, Payroll Tax Compliance, and ADP Payroll System are correlated to pay that is above average, with boosts between 6 percent and 11 percent. Skills that seem to negatively impact pay include Microsoft Excel and Accounts Receivable. Most people skilled in Payroll Administration are similarly competent in ADP Payroll System and Accounts Payable.
Pay by Experience Level for Payroll Accountant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Salaries for the relatively untried average out to around $43K, but survey participants with five to 10 years of experience earn a significantly higher median of $52K. After working for 10 to 20 years, Payroll Accountants make a median salary of $52K. Survey respondents who have worked for more than 20 years actually report somewhat lower incomes of $51K.
Pay Difference by Location
With a pay rate for Payroll Accountants that is 40 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Payroll Accountants will also find cushy salaries in Chicago (+38 percent), Washington (+22 percent), Los Angeles (+22 percent), and San Jose (+14 percent). Colorado Springs is home to the smallest salaries in the field, lagging the national average by 18 percent. Employers pay around 17 percent less in Portland and 7 percent less in The Woodlands, below-median salaries for those in this field.
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Key Stats for Payroll Accountant
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