Page 1 - Microsoft Word - Things that you need to know to successfully work in Belina Payroll System
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What Is Payroll? – Definition and make sure they are putting in all of their
Components time.
If your business has employees, you’ll have to do Time off
payroll. There’s no way to avoid it, but what is payroll?
You may also want to track the time
Well, payroll can mean a few different things: your employees take off work for
vacation, sick time, and holidays. What
1. Payroll refers to the employees you pay, along with
is sick pay like at your company? This is
employee information.
important if you have a policy that says
2. Payroll is also the amount you pay employees during
how much time employees are allowed
each pay period.
to take off.
3. Or payroll can refer to the process of actually
Salaries and wages
calculating and distributing wages and taxes.
Let’s dive deeper into the parts of payroll. A salary is a fixed amount that you can
pay an employee. Typically, an
What is payroll, and what parts are employee is given a yearly salary, which
included in a payroll program?
is then divided by the number of pay
What is payroll composed of on a micro- periods in the year.
level? In this section, I’ll break down
employee information, hours worked, For example, you give an employee a
salaries and wages, deductions, and net yearly salary of $28,600. You pay the
and gross pay. employee every week, which means the
weekly paycheck will be $550 before
Employee information deductions ($28,600 / 52 weeks).
Before you can begin to create payroll,
you need to collect some information A wage is what you pay an employee
from your employees. This information based on the hours worked. You will set
includes their names, addresses, a specific rate of pay for each hourly
age,gender,bank details and so forth. employee. To calculate an employee’s
Hours worked total wages, you will multiply the rate of
pay by the number of hours the
If you have hourly employees, you have employee works.
to keep track of the hours they work.
This will ensure you pay your employees For example, you pay an employee $12
the proper amount. per hour. The employee worked 34
hours this week. You will owe the
If you have salary employees, you may employee $408 before deductions ($12
want to track the hours they work to x 34 hours).
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