Welcome to Understanding Payroll Fundamentals: Policies, Calculations and Compliance. In this course, we will explore the important roles and responsibilities involved in accurately processing payroll within any organization.

Payroll is central to business operations as it involves properly compensating employees for their work in compliance with labor laws. However, payroll functions extend beyond simply calculating paychecks. Employers must also understand key rules and regulations, maintain compliance standards, and implement sound payroll practices and controls.

Over the next several modules, we will examine the various components of compensation, payroll tax withholdings, and other payroll-related deductions. We will review significant federal and state employment laws that govern wage and hour practices. We will also learn how to correctly calculate earnings, calculate deductions from gross pay, and process net pay ultimately delivered to employees.

The final module emphasizes best practices for ensuring payroll accuracy and ongoing compliance. This includes recommendations around duties and oversight, recordkeeping, training, and auditing procedures.

By the end of this course, you will have a firm grasp of fundamental payroll concepts, calculation methods, and the importance of compliance. You will be equipped to take responsibility for core payroll functions within your organization or to provide oversight of payroll processing handled by internal or outsourced administrators.

Let’s get started on our journey to understand payroll fundamentals! I’m excited to guide you through this important subject area. Please feel free to contact me if you have any other questions along the way.