What is
a
Payroll Budget Template
? A Payroll Budget Template is an essential component of an annual budget model used by HR and budget managers to plan salary expenses and hiring goals. This type of budget template offers various features, such as generating departmental employee budgets and calculating employee-related taxes and benefits. The template allows users to enter or adjust annual salaries for salaried staff and hourly rates for hourly employees. An example of a Payroll Budget Template is provided below.
You can find hundreds of additional examples
here.
Who Uses This Type of
Budget Template
? The typical users of this type of budget template are: Human Resources (HR) and budget managers.
Other
Budget Template
s Often Used in Conjunction with
Payroll Budget Forms Progressive Financial Planning & Analysis (FP&A) and HR Departments sometimes use several different Payroll Budget Forms, along with budget templates for sales, capital expenses, profit & loss and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others. In analyses where budgets or forecasts are used, the data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
Purpose of
Payroll Budget Forms
Payroll Budget Forms are used by companies and organizations to create a detailed bottom-up annual salary, tax, and benefit budget securely and quickly. By incorporating these forms as a part of Financial Planning & Analysis (FP&A) and HR Departments' best practices, companies can enhance their cost and hiring decisions related to workforce planning. The use of Payroll Budget Forms can also minimize the risk of missing employee expense targets that may adversely affect profitability.
Benefits to Users A well-designed Payroll Budget Template provides numerous benefits to business users. By streamlining the payroll budgeting process, users can save valuable time and reduce errors associated with manual data entry. This, in turn, enables HR and budget managers to focus on other critical tasks, such as identifying opportunities to improve workforce planning or reducing operational expenses. Additionally, using a standardized template ensures consistency in the budgeting process across departments, reducing the potential for discrepancies and miscommunication. By providing accurate and reliable data, the Payroll Budget Template can also enable users to make informed decisions regarding employee compensation and hiring plans, leading to better resource allocation and increased profitability. Overall, the Payroll Budget Template can help business users become more efficient in their jobs and make better decisions.
Payroll Budget Form
Example Here is an example of a departmental Payroll Budget form that calculates salaries, taxes and benefits.
Payroll Budget Template Example from Solver
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Technology Solutions and More Examples
- View 100’s of reporting, consolidations, planning, budgeting, forecasting and dashboard examples here
- Discover how the Solver CPM solution delivers financial and operational reporting
- Discover how the Solver CPM solution delivers planning, budgeting and forecasting
- Watch demo videos of reporting, planning and dashboards
May 4, 2023
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