Payroll Processing – Challenges faced by Payroll Accounting Team

Muhammed Jabir

image

HLB HAMT - Accounting Firm in UAE
Phone:- +971 4 327 7775
Mobile:- +971 50 205 9540
Email:- dubai@hlbhamt.com

    Get Free Consultation




    Payroll processing can be a challenging process for every company, irrespective of its size. As the number of employees increases, the process becomes even more complicated and time-consuming. Gathering the information of each employee, calculating their gross and net pay, budgeting, calculating the accruals and taxes are part of payroll processing. Organizations are shifting to payroll outsourcing in UAE to ease their load. Outsourcing the payroll processes can be of help to the entities in numerous ways.

    The challenges of payroll processing in UAE are many and it also affects the functioning of other departments within the organization. The repercussion of inaccurate data shared with the accounting department leads to numerous miscalculations that could hamper the business reporting requirement if the inaccuracy stays unnoticed. Some of the challenges faced are:

    • Lack of accounting background and budgeting knowledge: In most organizations, payroll functions are generally managed by the HR department. HR professionals are excellent at their core function. However, they may not be able to facilitate the balance sheet requirements of the accounting team. The inaccurate figures passed on could take up a lot of time to rectify and lead to numerous misleading reports and budgeting mistakes. Lack of accounting background and budgeting knowledge can be the reason for these errors. In such cases, it is an added load of work for the accounting department.
    • Inaccuracy in Accounting reports:Inaccuracy in accounting and finance reports can adversely affect the business. The cost allocation of the company to meet its requirements can be affected if the payroll details are not accurate in the accounting records and reports.
    • Timely payment:Processing the payments of employees on time is the most challenging aspect in payroll processing. All the calculations must be accurate and should be processed on time. The organizations cannot afford to take risk on this as timely payment to the employees is a matter of existence.
    • Confidentiality:Due to confidentiality issues, companies are hesitant to share the employee-wise salary information to its finance team. Payroll outsourcing is a solution for this issue as the finance team will get the report from a team of payroll professionals and they can completely rely on this report.
    • Higher costs:The vast amount of time involved in payroll processing compels companies to maintain a well-experienced professional for the same. Employing a professional to undertake the payroll processes can be more expensive than outsourcing it. Apart from the salary, the maintenance of the employee, office space, stationary, furniture, IT equipment, etc. are additional cost that can be reduced by engaging an outsourced team of experts to manage this function.

    Payroll processing is a complicated and challenging process. With the advancement of technology, new and improved methods are being used for payroll processing. Managing payroll in-house could bring in added expenditure; hence it is wise to choose the right payroll outsourcer who can handle your processes with ease.

    HLB HAMT is one of the leading payroll administrators in the UAE. Our experienced team of professionals offers accurate and timely payroll processing to our clients. Through HLB Global’s network of member firms, HLB HAMT undertakes multi-country payroll management to serve clients in more than 155 countries in the best possible way.

    Payroll Process

    The process of payroll is a little complicated and time-consuming; hence it is always recommended to outsource your company’s payroll function. Outsourcing payroll will ensure the assistance of a team of trained payroll professionals and it frees up the time of the organization, helping them focus on other projects that add value to their business.

    One should be extra vigilant while selecting their payroll provider, as payroll data is highly sensitive, and one should opt for a provider that can ensure high levels of data security.

    As a leading payroll outsourcing company, HLB HAMT can help solve your payroll complexities through customized strategies. We take care of our clients’ entire payroll cycle that includes preparation of payroll reports, processing salary payment with WPS compliance, accrual management including Gratuity, pension funds, an online portal for accessing payslips, and many more. Our leadership team spends the necessary hours in every project, ensuring our clients get refined consulting services to take your business forward. HLB HAMT provides payroll in UAE, Bahrain, Qatar, Saudi Arabia, Kuwait, and Oman.

    To know more about our payroll process, click here

    Disclaimer:
    Whilst every effort has been made to ensure the accuracy of this information, HLB HAMT will not accept any liability arising out of errors or omissions. Please note that this blog is not all-inclusive. Our guidance is designed only to give general information on the issues/topics covered. It is subjected to change and not intended to be a comprehensive summary of all laws which may be applicable to your situation, treat exhaustively the subjects covered, provide legal advice, or render a legal opinion.

    Did you find the blog informative?         

     

    Varun R Chandra
    Varun R Chandra
    07:38 25 Apr 21
    HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
    Giuseppe Assi
    Giuseppe Assi
    06:20 31 Jan 21
    I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
    Mohamed Sheriff
    Mohamed Sheriff
    16:16 28 Jun 20
    Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
    218141 JOSEPH THOMAS
    218141 JOSEPH THOMAS
    16:20 23 Jun 20
    Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
    PMI
    PMI
    07:14 23 Jun 20
    In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
    RAVI CHOKSI
    RAVI CHOKSI
    08:28 21 Jun 20
    Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
    Maharajan Subramaniam
    Maharajan Subramaniam
    18:17 06 Jun 20
    High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
    Mohammed L
    Mohammed L
    08:07 05 Jun 20
    We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
    ROY ROSHAN VIVIAN
    ROY ROSHAN VIVIAN
    06:32 04 Jun 20
    Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
    Basil Daniells
    Basil Daniells
    05:55 03 Jun 20
    I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
    Amar Kashyap
    Amar Kashyap
    19:28 02 Jun 20
    Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
    Radz de Jesus
    Radz de Jesus
    16:03 02 Jun 20
    We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
    Next Reviews

    Get in touch

    Whatever your question our team will point you in the right direction

    Start the conversation
    Get in touch
    x
    x

    Share to:

    Copy link:

    Copied to clipboard Copy