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Payroll M&A Checklist
| Payroll Disbursement Bank Accounts |
|
Coordinate with HR to identify payroll strategy for each country (e.g. Firm A payroll, outsource payroll vendors beginning Day 1) |
| Coordinate with Legal and HR to identify where payroll disbursement accounts will be needed by country |
| Create plan in conjunction with Treasury to open any new payroll disbursement accounts by Day 1 in conjunction with legal entity strategy and setup |
| Identify all Firm B payroll disbursement accounts by country |
| Create plan to close Firm B payroll disbursement accounts or transfer to Firm A legal entities and change bank signatory names by Day 1 |
| Payroll and Expense Disbursements |
| Identify Firm B payroll, time and expense systems and processes for all countries |
| Identify countries where Firm B reimburses employees via payroll vs. the payroll process |
| Coordinate with HR to understand timeline for migrating Firm B employees to Firm A HR/payroll systems |
| Coordinate with HR to understand timeline for migrating Firm B employees to Firm A Time and Expense systems and processes. Make sure migration considers any interfaces needed between T&E and invoicing (e.g. for consulting services). Finalize in process expense reimbursements. |
| Identify whether payroll vendor contracts for Firm B payroll will need to continue post Day 1 for payroll and/or employee expense reimbursement until full migration for each country... |
| Assume contracts, or negotiate new ones with payroll vendors as needed for Day 1 in any country where full migration to Firm A systems and payroll vendors cannot occur |
| Create process aligned with legal and HR to remove employees from Firm B payroll software applications and payroll provider records, and to add employees to Firm A payroll software applications and payroll provider records ... |
Download file to see complete checklist.
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