Some operations and tasks don’t require painstaking attention to detail. Unfortunately, processing payroll isn’t one of them. With sensitive salary and wage information, bank and direct deposit accounts, social security numbers, and other personal information in play, the stakes are high.
When preparing a payroll run or supporting payroll operations, it’s important to follow a systematic process to protect against overlooking critical steps or permitting vulnerabilities to be introduced or persist.
Consider using a payroll processing checklist to assist not only with completing each payroll cycle, but regularly performing audits, securing payroll data, and safeguarding the subsequent resulting accounting interactions, too. Organizations may even require that employees completing the process sign and date these checklists each time a payroll operation is completed. Such record keeping can prove invaluable in preventing errors and catching vulnerabilities.
For more information, check out the TechRepublic Premium Payroll processing checklist.