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.
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
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.
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.