Payroll Worksheet

495 Words2 Pages
Payroll plays a starring role in your business when you have employees you have to pay. If you’re relinquishing the payroll reins to an employee or hiring someone to take over payroll responsibilities, writing down the payroll procedures can shorten the learning curve. Writing payroll procedures also ensures the same outcome each time the payroll is processed—accurate and timely employee paychecks. Step 1 Describe how employees document and submit time. According to the U.S. Department of Labor, an employer can use any timekeeping system it wishes--be it a timesheet, computer time tracking system or something else. Write down how employees submit the time worked for the payroll period and how often payroll checks are cut. For example, if hard copy timesheets are submitted to the human resources manager, then list this in the procedure so the person…show more content…
Describe the procedures the employee needs to take to make adjustments to the wages paid to the employees. For example, if an employee takes an unpaid vacation day, describe how the payroll adjustment is made to deduct the workday wage from the employee’s check. Step 5 List payment schedule. Include a description of the frequency payroll checks are cut (weekly, biweekly or monthly). Step 6 Describe how to print checks or submit payroll information to the payroll servicer. After the employee enters the payroll information into the computer software or time tracking system, describe how to print the payroll checks or submit the payroll records to the payroll service that prints the checks for the business. Step 7 Maintain the records. The Internal Revenue Service suggests maintaining employee payment records, such as W-2s, timecards, tax statements and other payroll records for at least three years. Describe where these records are stored and how the employee should handle filing these records or saving these records (electronically and/or in hard copy form). Step
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