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Anybody work in payroll reconciliation?

3 replies

candlelight22 · 04/02/2018 19:08

I'm on a course and for one of my questions I need to comment on what a "good system for payroll reconciliations would look like. For monthly, quarterly and annual global reconciliations."

I have scoured the internet but can find nothing. Can anyone please explain what I am meant to do/write? What is a global reconciliation for a UK based company?

I need help in quite basic terms as I have no finance background.
Fingers crossed someone will come along Confused

OP posts:
Lichtie · 04/02/2018 19:29

It is just reconciling between the payroll system and reports to physical payments and transactions. So reconciling gross pay + employers NI + employers pensions to get your total expected payment.
Then you tie back what has been paid... Net pay to employees + paye/NI to Hmrc + total pension contributions. They should match... Or be reconciled by the liability still owed.
A good system would have a cross check back to the time sheets or hours worked system.

candlelight22 · 05/02/2018 07:00

Thank you so much. Much clearer now. . Appreciate you taking time to reply. X

OP posts:
mishfish · 06/02/2018 19:45

Screen shot that as starting a payroll course soon!

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