Office of the Controller

Office of the Controller

Compensation Accounting

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
    • Form 1042
    • Individual forms W–2, 1042S, 1099, 1099R
    • Corrected forms
    • Liaison between Payroll Department and University Tax Office
  • Payroll deduction (voluntary & involuntary) remittance
  • Support system upgrades

Last Updated: October 23, 2009 (jp).