This section covers standard procedures to be followed for payroll. These procedures may vary depending on how your company’s business is conducted. The following three sections of standard procedures are provided as a guideline:
1) Recommended Operating Procedures
An outline is provided of routine procedures on a daily, weekly, period (month, if 12 periods are used) and yearly basis.
2) End-Of-Period Checklist
The end-of-period procedures are critical to the proper functioning of the system. Certain programs must be run in a specific order to close the payroll module accurately.
It is suggested that copies of the checklist be made and used for each period close-out to be filed for future reference.
3) End-Of-Period Checklist Explanation
A detailed account is provided of the purpose of each program on the checklist.