Sunday, September 22, 2019
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Payroll, Receivables and Payables

Unit Head
Odunlade Olabisi
B.Sc., MBA


The Payroll, receivables and payables unit is responsible for the book keeping and recording of payroll, account receivables and payables of the organization. The unit provides the financial data used for financial reporting.

Its key functions include:

  • Payroll: Amongst others, it takes care of the organizations' responsibilities to its employees in area of pay-wages/salaries, pay slips, leave obligations, PAYE withholding etc.
  • Receivables: The unit is responsible for invoicing, banking, raising advances for staff, keeping records of aged debtors ledger and unretired advances.
  • Payables – This unit is responsible for all the organizations payment. Its functions include processing suppliers' invoices, printing of cheques, bookkeeping, maintaining an aged debtors' ledger.
  • Funds Management: The unit also plays a very important role in funds management, monitoring and provision of useful information on cash position to management to aid strategic decision making.

Unit contact email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

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