Most of our client’s strategic goal include commitments to global expansion, centralising processes and team development - all of which may result in the implementation of various payroll hubs and complex management of Chart of Accounts. Thus, it is essential that your end-to-end payroll and financial processes, general ledger posting, and control account reconciliations are monitored and supported by specialists to avoid backlogs of unreconciled accounts and auditing issues
Our experts understand the demands and pressure payroll accounting has on your team and consequently your budgeting. We will offer you an effective action plan which would include your global payroll postings and reconciliations. This service will ensure that changes are dealt with promptly, and best practices and process catalogues are unified and implemented in each department. Our service will help to put in place processes to validate transactions by reviewing the entries for accuracy and authorise such things as payroll tax entries, withholdings and overtime (if applicable) to ensure that operations occur correctly. The reconciliation or balancing of payroll will include making entries to distribute payment to the appropriate cost accounts.
We offer a unique responsibility matrix which includes; RACI model and unifying stakeholders processes with HR and payroll. Better concept in applying continuous improvement strategy, agility to payroll legislative changes and demands, understanding payroll and finance relationship, the importance of timely and accurate mapping plan per country, reviewing and understanding your payroll output reports provided by your Vendor, and being able to quickly identify and fix mapping and posting issues as they occur.
You will obtain the expertise of our seasoned professionals who have your best interest at heart. We will ensure your payroll doesn’t cost a penny more than it needs to. We know our way around taxation and legislation in over 40 countries. VPEF offers full training courses on payroll and human resources, as well as other sectors that have an impact on employee satisfaction and smooth operation, such as GDPR.