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LESSON 12-1 Preparing Payroll Time Cards

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Presentation on theme: "LESSON 12-1 Preparing Payroll Time Cards"— Presentation transcript:

1 LESSON 12-1 Preparing Payroll Time Cards
5/16/2019 LESSON 12-1 Preparing Payroll Time Cards

2 Terms to Know… Salary is the money paid for each employees service.
A pay period is the time period covered by a salary payment. (ie. 3/22 – 4/11) Payroll is the total amount earned by all employees for a pay period. Total earnings is the total payroll earned for a pay period prior to tax deductions. LESSON 12-1

3 Calculating Payroll 360.00 67.50 427.50 Overtime rate is calculated by multiplying regular pay rate by 1.5 (time-and-a-half) ie x 1.5 = $13.5 LESSON 12-1

4 Hours Worked X Regular Rate
LESSON 12-1

5 ANALYZING A PAYROLL TIME CARD
page 341 LESSON 12-1

6 CALCULATING EMPLOYEE HOURS WORKED
page 342 1. Calculate the number of regular hours for each day and enter the amounts. 1 2. Calculate the number of overtime hours and enter the amounts. 3. Add Hours Reg and Hours OT columns and enter the totals. 2 4. Add the Hours column. 3 4 LESSON 12-1

7 CALCULATING EMPLOYEE TOTAL EARNINGS
page 343 1. 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. 1 2 4 3 5 LESSON 12-1

8 LESSON 12-1 5/16/2019 LESSON 12-1

9 LESSON 12-1

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