Preparing Payroll Records
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Preparing Payroll Records. Lesson 12-3. Payroll Register. Payroll Register: Business form used to record payroll information Summarizes the payroll for one pay period Total Earnings Payroll withholdings Net pay of all employees. Payroll Register. Employee Earnings Records.
Preparing Payroll Records
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Presentation Transcript
Preparing Payroll Records Lesson 12-3
Payroll Register • Payroll Register: Business form used to record payroll information • Summarizes the payroll for one pay period • Total Earnings • Payroll withholdings • Net pay of all employees
Employee Earnings Records • Employee Earnings Record: A business form used to record details affecting payments made to an employee • Tracks accumulated earnings - total earnings an employee receives over time • Businesses must send a quarterly report to federal and state governments showing employee taxable earnings and taxes withheld from employee earnings.
4 5 2 Employee Earnings Records 1 3 6 7 • Last Day of Quarter 5. Earnings, Deductions, Net Pay • Employee Personal Data 6. Updated Accumulated Earnings • Beginning Accumulated Earnings 7. Total and Prove • Pay Period
Questions • How is net pay calculated? • What does the payroll register summarize? • Why is it important for payroll records to be accurate?
