Payroll Specialist

Unclassified - New York, NY

Full-time

New York, NY

About the position

The Payroll Specialist will oversee the payroll operations for all divisions within Beefbar NYC, ensuring that compensation is processed timely, accurately, and in line with regulatory requirements. This role involves the ongoing evaluation of effective and compliant payroll practices. The Payroll Specialist will be responsible for inputting and maintaining precise data within the payroll system, executing payroll processing, and generating necessary reports in accordance with established policies, seeking assistance when necessary. Monitoring payroll processing and accounting systems is a critical aspect of this role, guaranteeing the prompt and accurate execution of payroll transactions, including wages, benefits, paid time off, leaves, garnishments, taxes, and other deductions. The Payroll Specialist will ensure compliance related to tip pooling, regularly auditing and addressing any discrepancies. Additionally, the role requires preparing and maintaining accurate records and reports of payroll transactions, issuing or reissuing physical checks or direct deposits as required, and reviewing the budget and general ledger for assigned departments to ensure funds are available and expenditures are accurately allocated. The Payroll Specialist will also be responsible for reconciling payroll with the general ledger and monthly bank statements, maintaining accountability to budgeted margins, and identifying any concerns as necessary. Recording and processing federal and state payroll tax deposits, assisting in the preparation of financial statements and records for auditors, and supporting corrections to financial records are also key responsibilities. Acting as a subject matter expert, the Payroll Specialist will effectively communicate payroll data with supporting tools to diverse audiences and identify and suggest updates to payroll accounting software, systems, and procedures to enhance accuracy, efficiency, compliance, and cost-effectiveness. Adherence to federal, state, and local payroll, wage, and hour laws and best practices is essential, along with exhibiting ownership, integrity, and meticulous attention to detail in payroll completion. The role may also involve performing other related duties and tasks as assigned by management.

Responsibilities

• Inputting and maintaining precise data within the payroll system.
• Executing payroll processing and generating necessary reports in accordance with established policies, seeking assistance when necessary.
• Monitoring payroll processing and accounting systems to guarantee the prompt and accurate execution of payroll transactions, including wages, benefits, paid time off, leaves, garnishments, taxes, and other deductions, escalating any issues as needed.
• Ensuring compliance related to tip pooling, regularly auditing and addressing any discrepancies.
• Preparing and maintaining accurate records and reports of payroll transactions.
• Issuing or reissuing physical checks or direct deposits as required.
• Reviewing the budget and general ledger for assigned departments, ensuring funds are available and expenditures are accurately allocated.
• Reconciling payroll with the general ledger and monthly bank statements.
• Maintaining accountability to budgeted margins and identifying any concerns as necessary.
• Recording and processing federal and state payroll tax deposits.
• Assisting in the preparation of financial statements and records for auditors and similar personnel.
• Supporting corrections to financial records and assisting in the preparation of annual financial reports and budgets as needed.
• Acting as a subject matter expert, effectively communicating payroll data with supporting tools to diverse audiences.
• Identifying and suggesting updates to payroll accounting software, systems, and procedures to enhance accuracy, efficiency, compliance, and cost-effectiveness.
• Ensuring adherence to federal, state, and local payroll, wage, and hour laws and best practices.
• Exhibiting ownership, integrity, and meticulous attention to detail in payroll completion.
• Promptly escalating any areas of concern or uncertainty to management.
• Complying with company standards as outlined in the Employee Handbook.
• Performing other related duties and tasks as assigned by management.

Requirements

• Proficient in written and spoken English.
• Ability to convey complex information effectively and efficiently.
• Must be reachable via email and able to communicate via phone.
• Ability to provide professional feedback to team members and collaborate effectively.
• Exceptional organizational skills and attention to detail.
• Strong analytical skills along with proficiency in Microsoft Word, PowerPoint, and Excel.
• In-depth knowledge of payroll functions, including preparation, balancing, internal controls, and payroll taxes.
• Familiarity with payroll software preferred.
• Bachelor's degree in Accounting, Finance, or a related field preferred.
• A minimum of three years of payroll experience required; experience in the hospitality sector preferred.
• Ability to sit for extended periods while working on a computer.
• Must be able to lift up to 15 pounds occasionally.

Nice-to-haves

• Experience in the hospitality sector preferred.
• Familiarity with payroll software preferred.