Finance Payroll Assessment

This assessment aims to evaluate the efficiency and accuracy of the payroll system within [Your Company Name]. It will identify any discrepancies, compliance issues, and areas for improvement.

A. Employee Data Verification:

• Total Employees: _______

• Employee Types (Check all that apply):

• Full-time

• Part-time

• Contractual

Verification Completed by: [Your Name and Position]

B. Payroll Calculation Assessment:

Deductions (List):

• Tax Withholdings

• Benefits

• Other Deductions

Net Pay Calculations Verified:

• Yes

• No

C. Compliance Check:

Labor Laws Compliance:

• Minimum Wage

• Overtime

• Others (Specify): _______

Tax Regulations Compliance:

D. Disbursement Audit:

Payment Methods (Check all used):

• Direct Deposit

• Checks

• Others (Specify): _______

Payment Schedule:

• Bi-weekly

• Monthly

Unauthorized Payments: Check for any discrepancies or unauthorized transactions.

E. Record Keeping & Reporting:

• Payroll Records: Ensure all payroll records are maintained accurately and are easily accessible.

• Reporting: Regularly review and report payroll summaries, tax reports, and any discrepancies to management.

F. Recommendations & Action Plan:

• Provide a list of identified issues, risks, and recommendations.

• Develop an action plan with timelines to address each recommendation.

G. Approval:

Assessment Completed by: [Your Name], [Your Position/Designation]

Reviewed and Approved by: [Management/Supervisor]

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