Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NEED HELP PLEASE You are the new payroll manager for the Build a Moose Toy Company. Build a Moose is a smaller manufacturer, and it

NEED HELP PLEASE

image text in transcribedimage text in transcribed You are the new payroll manager for the Build a Moose Toy Company. Build a Moose is a smaller manufacturer, and it is cost-effective for the company to process payroll in-house. As part of your initial work, you are reviewing the controls that are in place for payroll, and you want to ensure that the correct control owners are aligned with the controls. Using the table below, review the controls in place and identify the correct owner(s) for each control. Control Control Owner 1. Complete a payroll processing checklist. 2. Review and approve the payroll journal prior to distribution of payments. 3. Mail annual tax report (W-2) to each employee for tax filing purposes. 4. Conduct an independent review of employees receiving paychecks by comparing the list to other credible employee listings, such as an active company directory. 5. Provide a payroll calendar to employees. 6. Review and sign payroll checks. 7. Reconcile the list of employees receiving W-2s to the employee main table to account for all employees. 8. Distribute payroll expense reports to department managers for explanations of significant variances. 9. Perform changes to personal information directly via an online portal. 10. Review and remit payments for payroll withholdings on a timely basis to government agencies. Accounts Payable Accounting Manager/HR Manager Controller Controller/HR Manager Department Manager Employee Employee/HR Manager HR Manager Payroll Manager Payroll Manager/Controller Payroll Manager/Department Manager

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Safety Health And Environmental Auditing A Practical Guide

Authors: Simon Watson Pain

1st Edition

1439829470, 978-1439829479

More Books

Students also viewed these Accounting questions