CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 2 LESSON 12-1 ANALYZING A PAYROLL TIME CARD page 341

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON Add the Hours column. CALCULATING EMPLOYEE HOURS WORKED page Add Hours Reg and Hours OT columns and enter the totals. 2.Calculate the number of overtime hours and enter the amounts. 1.Calculate the number of regular hours for each day and enter the amounts.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON 12-1 CALCULATING EMPLOYEE TOTAL EARNINGS page Enter the rate for regular time in the Rate column. 2.Calculate the regular earnings. Enter the amount. 3.Enter the rate for overtime. 4.Calculate the overtime earnings. Enter the amount. 5.Add the Amount column to calculate total earnings. Enter the amount of total earnings.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-2 Determining Payroll Tax Withholding

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 6 LESSON 12-2 EMPLOYEE’S WITHHOLDING ALLOWANCE CERTIFICATE page Write the employee’s name and address 2.Write the employee’s social security number. 3.Check the appropriate marital status block. 4.Write the total number of withholding allowances claimed. 5.The employee signs and dates the form.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 7 LESSON 12-2 EMPLOYEE’S INCOME TAX WITHHOLDING – MARRIED PERSONS page Select the appropriate table. 2.Locate the employee’s total earnings. 3.Intersection of wages and number of allowances column.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-3 Preparing Payroll Records

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 9 LESSON 12-3 PAYROLL REGISTER page Health insurance premium deductions 2. Payment date 3. Employee personal data 9. Other employee payroll deductions 4. Earnings 10. Total deductions 5. Federal income tax withheld 11. Net pay 6. Social security tax withheld 12. Total, prove, and rule 7. Medicare tax withheld 13. Check number 1. Pay period date

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 10 LESSON 12-3 EMPLOYEE EARNINGS RECORDS page Total and prove 5.Earnings, deductions, net pay 2.Employee personal data 1 1.Last day of quarter 4.Pay period 3.Beginning accumulated earnings 6. Updated accumulated earnings

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-4 Preparing Payroll Checks

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 12 LESSON 12-4 PAYROLL BANK ACCOUNT 1.Prepare the check stub. page Prepare the check. 12

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 13 LESSON 12-4 EMPLOYEE’S PAYROLL CHECK page Prepare the check stub of each employee’s payroll check. 2.Prepare each employee’s payroll check. 21