Payroll Specialist

Overview

The client requests proposals for managed services in payroll, absence management, and procurement. They seek an experienced hybrid Subject Matter Expert (SME) with functional and technical expertise in Oracle Time and Labor (OTL), Absence Management, Payroll, and procurement processes. The goal is to support completing critical payroll and financial reporting tasks, ensuring accuracy, efficiency, and compliance with deadlines.

Project Background and Objectives

• The client is addressing several critical payroll and financial reporting processes for the 2024-2025 period.
• Tasks include W2, 1099, and 940 filings, quarterly payroll returns, re-employment processing, and journal entries.
• These tasks require an expert with functional and technical knowledge of payroll and Oracle systems.
• The objective is to ensure timely, accurate completion of payroll and reporting activities, data accuracy, and compliance with regulatory requirements.

Scope of Work

W2 – Annual Payroll Processing

• Process: Initiated by programs in Oracle.
• Action: Collaborate with the HR/payroll team to initiate the W2 process, validate data, and spot-check forms.
• Final Steps: Print, seal, and deliver forms to the post office for mailing.

1099 AP Manual Processing

• Process: Initiated by programs in Oracle.
• Action: Manually initiate the 1099 process, validate data, and spot-check forms.
• Final Steps: Print, seal, and mail forms; upload magnetic file to IRS website.

1120 Financial Reporting

• Process: Clarification needed from finance as Oracle does not handle this systematically.
• Action: Consult with finance to clarify the reporting process and finalize the 1120 report.
• Final Steps: Complete and submit 1120 financial reports.

940 End-of-Year Payroll Processing

• Process: Initiated by programs in Oracle.
• Action: Initiate 940 payroll process, validate data, and spot-check forms.
• Final Steps: Print and deliver forms as required.

Re-employment Processing

• Process: Initiated by programs in Oracle.
• Action: Initiate, validate, and spot-check re-employment data.
• Final Steps: Upload validated re-employment forms.

Journal Entry Dual Authentication (Payroll)

• Process: Dual authentication is required for journal entries; reports generated from Oracle.
• Action: Review process with the business team (formerly managed by BA Paul, halted due to UKG to OTL transition).
• Final Steps: Complete journal entry process and ensure dual authentication is in place.

Quarterly Payroll Returns (941)

• Process: Initiated by programs in Oracle.
• Action: Initiate 941 processes, validate data, and spot check forms.
• Final Steps: Complete and submit quarterly payroll returns.

Required Skillset

The managed service provider must possess both functional and technical expertise in the following areas:

• Oracle Time and Labor (OTL): Expertise in configuring, managing, and troubleshooting OTL for absence management and payroll integration.
• Payroll Expertise: Strong knowledge of payroll processes, including W2, 1099, 940, 941, and re-employment.
• Absence Management: Proficiency in Oracle Absence Management module for validating and managing absence records.
• Procurement Knowledge: Experience with procurement teams, particularly with the 1099 process.
• Technical Proficiency: Ability to generate, validate, and troubleshoot reports from Oracle, including payroll and tax filings.
• Business Analysis: Experience consulting with HR, finance, procurement teams, and external vendors to ensure successful payroll task completion.
• Attention to Detail: Strong focus on data validation, spot-checking forms, and regulatory compliance.

Implementation Requirements

The managed service provider will be responsible for:

• W2 and 1099 Processing: Ensuring accuracy in payroll reporting and timely submission to the IRS and post office.
• Annual and Quarterly Reports: Initiating, validating, and submitting 940, 941, and other required payroll forms.
• Re-employment and Journal Entries: Handling re-employment data uploads and ensuring dual authentication for journal entries.
• Communication and Coordination: Constant coordination with procurement, HR, finance, and other departments to manage processes effectively.

Timeline

• Start Date: ASAP
• End Date: June 30, 2025

Key Deliverables:

• Completion of W2 and 1099 processes.
• Timely and accurately submitting 940, 941 forms, and quarterly payroll returns.
• Successful processing of re-employment forms and journal entries.
• Finalization and submission of 1120 financial report.