Preparation, Analysis, and Management of Salaries

Preparation, Analysis, and Management of Salaries

Methodology:

The consultant provides a presentation and examples. Participants are asked to perform exercises on an Excel program for salaries and benefits, in addition to group workshops and presentations.

Course Objectives:

By the end of the course, participants will be able to:

• Understand the roles of human resources, accounting, and finance and how they contribute to their success.
• Prepare and accurately review monthly salaries.
• Calculate employee returns, loans, vacations, and end-of-service bonuses.
• Match salary statements and audit supporting payment documents.
• Prepare monthly and annual salary budgets.
• Design regular reports for salary management and analysis.

Target Audience:

Employees, accountants, assistant accountants, supervisors, salary managers, and human resources specialists interested in understanding and applying best practices related to salary department management.

Program Content:

• Importance of the salary department as a link.
• Introduction to the function of human resources.
• Recruitment.
• Employee retention.
• Development.
• Introduction to accounting and finance.
• Financial and administrative decisions.
• The salary department as a link.
• Salary department objectives.
• Salary department controls.
• Salary department policies and procedures.

Preparation and Calculation of Salaries:

• Establishing the correct controls in the salary department.
• Determining the correct calculation basis.
• Risks leading to salary errors.
• Increases and deductions.
• Approvals for salaries.
• Fraud in the salary department.
• Fraud prevention in the salary department.
• Preparation of the salary schedule.

Employee Loans and Bonuses:

• Features of employee loans and salary advances.
• Controlling access to loans and bonuses.
• Preparation of loan reports.
• Actual end-of-service compensation.
• Preparation of bonus reports.

Role of Accounting and Auditing Departments:

• Recording salary expenses and salary payable.
• Recording salary costs as debits to assets and inventory.
• Reconciliation of salaries with employee accounts.
• Reconciliation of liabilities with social security and government agencies.
• Reconciliation of payments with the bank account.
• Introduction to internal and external auditing.
• Auditing salary tables.

Preparation of Salary Budget:

• Introduction to budgeting.
• Preparation of the budget for the salary department.
• Preparation of the annual budget for salaries and contributions for the entire company.

Salary Disclosure and Contributions:

• Reports related to salaries.
• Salary protection system.
• Ministry of Labor.
• Social security.
• General Organization for Social Insurance (GOSI) in Saudi Arabia.
• General Pension and Social Security Authority (GPSSA) in the United Arab Emirates.