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Preparing Payroll Records

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Presentation on theme: "Preparing Payroll Records"— Presentation transcript:

1 Preparing Payroll Records
Lesson 12-3

2 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

3 Payroll Register

4 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.

5 Employee Earnings Records
4 5 1 2 3 6 7 Last Day of Quarter Earnings, Deductions, Net Pay Employee Personal Data 6. Updated Accumulated Earnings Beginning Accumulated Earnings 7. Total and Prove Pay Period

6 Questions How is net pay calculated?
What does the payroll register summarize? Why is it important for payroll records to be accurate?

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