Payroll position and responsibilities and alignment with pay
I work in payroll, and am coming up on my 4th year in payroll processing, and 3rd year at this company. It’s a very small payroll and tax company, more tax focused than payroll which is obvious.. it brings in more money. I applied for a payroll specialist position, but definitely did a lot of training and learning as I went. Well now I’ve found myself a little burnt out, too burnt out for this early in the career.
I process about 5 weekly, 18 bi-weekly(both weeks), and about 20 2x a months. Some 2x are 5th and 20th, some are 15th and EOM. These are all live payrolls, with a POC reporting hours to me, anywhere from 2 to 20 employees. Also need to mention that all of these payrolls are split between two payroll softwares, I use and am proficient in both.
Some of these payrolls I track PTO polices(hour balances, anniversaries to move up PTO tiers, and of course ensuring compliance with state regs), some I don’t track and just pay VP or SP when they state.
Some I track retirement contributions, and submit them to their respective places. (Some submitted online, some I print a check and send in) I track retirement limits, and in the instance employees max out, I even have to manually calculate the 3% ER match from wages because our payroll platform stops calculating the match once they hit salary deferral limit.
Please keep in mind the many pop up items that come with running payrolls.. final checks, bonuses, favors, paystubs, etc….
Now onto taxes. After each payroll, I submit federal and state taxes both semi weekly and monthly. This part I should clarify, I do not go into EFTPS, but I enter all of these into a spreadsheet, someone else bulk pays them. But once a payroll is out of state, I then take on the responsibility of filing and paying through that specific state website. I do some reconciliation for all payroll taxes each quarter, and then complete the 941s, SUTA(SUI), and FAMLI. In total I do about 50 quarterly taxes. So year end, this means another 50 940s added in, and in total, somewhere around 3-500 W2s I send out. This past year I have felt like giving up every single Jan, Apr, July, and Oct.
Anyway, the stress has been getting to me. I do not have a CPP, although I would like to, I just don’t feel like I have the time. I make about 55k a year. Any insight into my pay, stress, and responsibilities is appreciated!!