Payroll Coordinator Job Description Template

Table of Contents

    An ideal candidate for the role of Payroll Coordinator must have an in-depth knowledge of payroll tasks. They are expected to answer any employees’ questions regarding their compensation. In this role, an individual will manage all types of payroll processing tasks. This includes collecting and verifying workforce data, computing wages and taxes, taking care of deductions and overtime, matching wages with timesheets, and ensuring timely payments to the workforce.

    Payroll Coordinator Job Brief:

    We are looking for a Payroll Coordinator who will be responsible for processing and maintaining payroll accuracy. They will also be responsible for monitoring and resolving payroll discrepancies and ensuring compliance with employment regulations. The individual will need to intercommunicate with staff in various departments to carry out payroll duties. They will also look after all new hires, terminations, and pay rate changes and make sure they accurately reflect in the payroll system.

    An essential part of the job is to ensure employee timesheet accuracy along with the calculation and timely processing of employee bonuses. Prompt response to employee inquiries related to payroll and benefits is required and the individual must be able to compute wages by calculating bonuses and deductions.

    Roles and Responsibilities:

    • Collect and verify employee timesheets.
    • Manage different types of tax forms.
    • Handle payroll paperwork.
    • Compute wages using salary adjustments, bonuses, benefits, commissions, and deductions.
    • Ensure payroll accuracy.
    • Conduct electronic and manual payments.
    • Keep payroll data up-to-date for transfers, promotions, and terminations.
    • Prepare reports for taxes, earnings, and deductions.
    • Resolve payroll issues.
    • Ensure the payroll team follows company rules, codes, laws, and standards.
    • Respond to audit and tax requests.
    • Act as the first point of contact for workers for payroll queries.
    • Maintain payroll filing systems or payroll software.

    Requirements:

    • A Bachelor’s degree in Accounting, Finance, or related fields.
    • At least 2 years of experience in payroll management or a similar role.
    • Trained in accounting rules and tax laws.
    • Knowledge of the Sarbanes-Oxley Act or Fair Labour Standard Act (FLSA).
    • Skilled in using database software and payroll software systems like Kronos, Oracle, etc.
    • Post payroll data to elation systems like LCP Tracker, eMars Inc etc.
    • Trained in data analytics tools.
    • Take part in EMEA HR, Payroll, Compensation and Benefits (C&B) projects.
    • Expert in MS Office.
    • Good interpersonal skills.
    • Ability to work under pressure.
    • Must meet strict deadline needs.
    • Must have good organizational skills to work with multiple clients at a time.
    • Ability to work independently and as a team.
    • Connect with IRS, revenue, and other offices to respond to queries.
    • Be ready for work-related travel.
    • Maintain integrity and confidentiality.

    Frequently Asked Questions

    1. Who can opt for the job of Payroll Coordinator?

    Anyone who likes accounting and finance can have a good career in payroll jobs. Payroll Coordinator requires working with numbers more than anything. They must handle workforce data, timesheets, and other staff-related information to compute wages. Ensuring that accurate wages are disbursed on time is an important part of the job profile. They need to validate that the payroll process adheres to current legislation guidelines.

    2. What skills are needed for a Payroll Coordinator?

    A Payroll Coordinator must process workforce data accurately. They require a solid understanding of mathematical concepts, wage and hour laws, tax withholdings, and other legal aspects of payroll processing. They should possess the ability to perform complex calculations and use payroll systems. A Payroll Coordinator should maintain strict confidentiality, and integrity while also displaying problem-solving and communication skills.

    3. Is Payroll Coordinator a senior role?

    The Payroll Coordinator role is usually considered an entry or mid-level position. However, in smaller organizations with less complex payroll processes, the role may be more senior, with more responsibilities. The seniority may also depend on the organization’s size, industry, and structure. In smaller companies, the role can be combined with the HR function and responsibilities too.

    4. What is the salary of a payroll coordinator in India?

    The salary of the payroll coordinator depends on the size of the company. In India, the annual salary ranges between ₹1.5 Lakhs to ₹8.5 Lakhs with an average annual salary of ₹4.5 Lakhs.

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