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JOB DESCRIPTION AND RESPONSIBILITY
KEY RESULT AREA(KRA) & KEY PERFORMANCE INDICATOR(KPI)

accounting sector

Payroll Accountant

Introduction
Skills Ability
job description
Job Roles & Responsibilities
kra & kpi
KRA & KPI Mapped
Best college in India​
Best colleges in mumbai
job opportunities
salary in India
Conclusion
Explore career opportunities

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Introduction

Payroll accountants calculate salaries, update payroll systems with employee information, and preparing internal and external tax reports, and process salary payments to employees. 

Do You Want to be a Payroll Accountant job? To build a career as a Payroll Accountant job you need to first understand the Job profile and responsibilities of the job

This blog gives you a detailed idea of what it is like to become a Payroll Accountant job in India.

Soft Skill, Technical Skills and Certification:

Interpersonal and Communication Skills:

They need to have good Interpersonal and Communication Skills in order to talk to people in the organization such as the sales department, accounting department, and other relevant departments. 

Math and Accounting Skills:

Math and Accounting skills are basic requirements for a Payroll Accountant. They need to have good math and accountancy skills in order to analyze the account, call debtors and ask them to return the money.

Time Management skills:

Time management is the ability to complete tasks within a certain time frame and as they have to multitask and complete each day, time management skills can help them meet their deadlines

Job description

Payroll accountants are responsible for handling the payroll-related activities of their organization. Their work includes calculating and recording employee hours, wages, taxes, etc., as well as preparing checks to be sent out at the end of each pay period. 

Job Roles and Responsibilities

Key Result Areas(KRA)
Key Performance Indicator(KPI)

Sr. No

KRA

KPI

1

How many employee paychecks are executed in a month

No. of employee paychecks executed in a month

2

How many net salaries considering deductions and withholdings are executed in a month

No. of net salaries considering deductions and withholdings executed in a month

3

How many tax documents are audited and filled in a month

No. of tax documents audited and filled in a month

4

How many general ledger entries and payroll files are updated and reviewed in a month

No. of general ledger entries and payroll files updated and reviewed in a month

5

How many accounting files, records, and schedules are reviewed in a month

No. of accounting files, records, and schedules reviewed in a month

Example of KRA VS KPI Mapped in Organisation and Reporting

Sr. No

Reporting by the employee

Reporting by the employee

1

How many employee paychecks are executed in a month

Employee paychecks are executed in a month=59

2

How many net salaries considering deductions and withholdings are executed in a month

Net salaries considering deductions and withholdings are executed in a month=12

3

How many tax documents are audited and filled in a month

Tax documents are audited and filled in a month =65

4

How many general ledger entries and payroll files are updated and reviewed in a month

General ledger entries and payroll files are updated and reviewed in a month=105

5

How many accounting files, records, and schedules are reviewed in a month

Accounting files, records, and schedules are reviewed in a month =25

Requirements

Eligibility 

 

After 10th

After 12th

Graduation

Post-Graduation

The candidate must have appeared in 10 from any recognized educational board.

The Candidate then has to appear for the HSC exam from a recognized board

Interested candidates can undertake a bachelors degree,  which is a 3-year degree program

The candidates can also pursue a master’s degree so that they can have a better career opportunity. 

The candidate should try to gain at least a minimum of 50-60% marks to be eligible to enter the Commerce stream 

The candidate should try to gain at least a minimum of 50-60% marks. Then, only they will become eligible for the bachelor’s course

  • Bachelor of Commerce (B Com)
  • Bachelor of Business Administrationn in Finance 
  • accounting (BBA)
  • Bachelor of Accounting and Finance (BAF)

These are some of the better options for a bachelor’s degree

They can pursue a Master’s Degree such as a Master of Commerce (M. Com) or MBA in Accounting or in Finance, which can be up to 2 years

  

After Graduation, the student can either search for a Job or go for a Master’s Degree

The Candidate must have at least 1 to 2 years of Experience in the sector at a starting position to get a high paying and good position in a reputed organization. 

Best Colleges in India

Colleges

Location

Indian Institute of Management,

Bengaluru

Indian Institute of Management,

Kozhikode

National Institute of Securities Markets,

Navi Mumbai

MICA

Ahmdabadh

Indian School of Business,

Hyderabad

 

Best Colleges in Mumbai

Colleges

Location

Narsee Monjee College of Commerce & Economics, 

Mumbai

K J Somaiya College of Arts and Commerce

Mumbai

Kishinchand Chellaram College

Mumbai

Career Path

Career

Description 

Commercial Accounts Receivable Manager:

The main responsibilities for this role include managing invoices, handling missed payments and supervising Accounts Receivable Clerks.

Credit Manager:

Credit managers are responsible for overseeing the credit granting process for a company. Their job is to optimize company sales and reduce bad debt losses by maintaining the credit policy. 

Budget Analyst:

Budget Analysts are responsible for analyzing budget proposals that determine fund allocations, and determining budgets for various resources.

Billing Analyst:

They are required to ensure that bills are accurate and paid on time and that any invoices received are authorized.

Accounts Payable Clerk:

Accounts Payable Clerks are responsible for receiving, processing, and verifying invoices related to accounts payables.

 

Salary

Payroll Accountant Salary in India ranges between ₹ 1.8 Lakhs to ₹ 12.0 Lakhs with an average annual salary of ₹ 4.0 Lakhs. The Amount may vary through different factors like cities, experience workflow, and workload.

Conclusion

A Payroll accountant has many responsibilities, such as planning the billing, accounts receivable, and collections operations of a department, and will work with many professionals, such as Accountants, to understand what clients are late with billing and how to approach customers as needed. Having excellent attention to detail and communication skills will help promote you for better aspects with a higher pay scale and excellent attention to detail since you will need to manage several accounts at one time.

To get a Detailed Overview of the Accounting Sector, Click Here. 

CTA Accounting

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