The office of Compensation Accounting Services is responsible for:

• Managing and reporting accounting activity related to the Oracle Payroll application, including payroll asset and liability accounts
• Reporting Yale payroll tax (State and Federal) through accurate processes, reconciliations and related payments
• Ensuring compliance with requirements through accurate payroll tax processes, tax reconciliations and related payments, and State and Federal Tax reporting
• Processing and accounting for payroll adjustments including overpayments and tax adjustments
• Supporting Financial Reporting & Analysis in the bank reconciliation process for the payroll checking and direct deposit accounts
• Monitoring and maintaining internal controls with respect to payroll processes, payments, and accounting

Compensation Accounting Services is specifically responsible for:

• Payroll asset & liability account reconciliations
• Payroll element maintenance
• Bank reconciliation support
• Tax accounting, payments, reporting and document distribution of:
• Tax withholding account remittance and reconciliation
• Federal & State forms 941& 945
• Form1042
• Individual forms W-2, 1042S, 1099, 1099R
• Corrected forms
• Liaison between Payroll Dept. and University Tax Office
• Payroll deduction (voluntary & involuntary) remittance
• Support system upgrades