Hourly Payroll Policy

Screenshot of the first page of Hourly Payroll Policy

Use the general procedures included in this tool to provide some processing consistency when handling hourly payroll and ensure that adequate standards of internal accounting control are being met.

“Internal accounting control,” as defined by generally accepted auditing standards, comprises the plan of organization and the procedures and records that are concerned with the safeguarding of assets and the reliability of financial record. Sound internal accounting controls ensure that transactions are executed in accordance with management’s authorization and recorded accountability for assets is compared to existing assets at reasonable intervals and discrepancies are investigated.

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