What is a payroll specialist?
A payroll specialist’s main responsibility is to process payroll for a company.
However, the payroll specialist role also includes additional accounting tasks
like paying taxes, managing employee payment preferences, and maintaining a
yearly roster of employees and their earnings.
A payroll specialist job description for a smaller company may include some
human resources duties as well, like overseeing employee benefits.
Education requirements for this role can vary, but most ask for (at least) an
associate degree in accounting or a related field. Most companies expect a few
years of experience in the industry as well.
How is this position monitored?
In large companies, the payroll specialist often reports to a payroll director.
In smaller companies, the payroll specialist may report to an owner or an
Performance goals for a payroll specialist include the accurate execution of an
on-time payroll, coordination with human resources, and effective communication
with employees and supervisors.
How much does a payroll specialist make?
A payroll specialist salary hovers around $47,300 per
year. While the average salary for payroll specialists is about $27 per hour, there is
a potential to earn up to $32 per hour or $66,000 per year.
Payroll specialist job duties & responsibilities
A payroll specialist processes payroll for all company employees, which comes
with a variety of duties and responsibilities, including:
- Collecting payroll preferences and documentation from employees
- Adjusting compensation to account for taxes, commissions, and company benefits
- Utilizing a company payroll system that provides easy tracking for recordkeeping purposes
- Handling employee questions
- Monitoring and reconciling accounts
- Preparing reports for managers or tax audits
- Introducing new employees to the payroll process