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Reflect upon the importance of having Financial Literacy in the role of a payroll accountant. Explain...

Reflect upon the importance of having Financial Literacy in the role of a payroll accountant. Explain how it impacts you and your clients.

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Financial literacy is a must for every person especially those who relate to accounting field.Having financial literacy for a payroll accountant helps in timely payment of salaries for the employees and keeping them in accounts and paying the employees only for their work along with it timely payment of Statutory dues like EPF,ESI etc to avoid additional fines etc is what an payroll accountant must stay aware of and it is financial literacy for him.

Staying in financial literate as an payroll accountant helps him in finding a better conduct which helps in finding new clients and also for client it avoids avoids unnecessaary pressures and financial losses which may be in form of strikes from employees for late payments,government regulation etc.

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