What you will learn

• Describe the step-by-step payroll processing cycle, including data collection, input, verification, calculation, and finalization.

• Identify essential requirements for time tracking systems to accurately record/manage employee work minutes for payroll processing and compliance.

• Explain the payroll-related tasks involved in employee on-boarding, such as tax withholding preferences, direct deposit, etc.

• Describe the key components of year-end payroll processes, such as W-2 preparation, 1099 form distribution, and other required tax reporting.