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Preparing Payroll Records

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.

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Preparing Payroll Records

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  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. 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

  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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