Payroll System

Topics: Mathematics, Salary, Spreadsheet Pages: 5 (1356 words) Published: March 24, 2014

Gross Compensation
Unlimited number of bonuses and earnings
Unlimited number of pay adjustments
Commissions and piece rate computations
Special runs and 13th month computation
Retirement / final pay
Computation of tax, SSS, Philhealth, and hdmf can be turned on/off User specified recurring income

Unlimited number of loan types
Unlimited number of deduction types
Maintains loan amortization and balances
User specified recurring deductions

User editable Philhealth contribtion
User editable SSS contribution
User editable withholding tax
Beginning year to date entries
Configurable Philhealth contribtion
Configurable SSS contribution
Configurable withholding tax
Beginning year to date entries

Diskette Submissions
SSS salary loans diskette
SSS monthly remittance diskette
SSS net monthly contribution list (mcl)
SSS net pre-validation file (pvf) phic rf-1 diskette
hdmf premium remittance diskette
hdmf loan payment diskette
BIR alphalist diskette
bank specific formats of bank notices


Payroll Systems
Companies can use Microsoft Excel to keep pay details. In this activity you will create a company payroll table and pay advice slips for the individual employees. The data for the payroll system has been prepared for you; your task will be to complete the formulas. Loading the Payroll Template

1LoadMicrosoftExcel, orclosethecurrentle. 2 Click on the OPEN icon in the QUICK ACCESS TOOLBAR or in the OFFICEBUTTON. Access the CHAPTER 16 folder of the EXCEL 2007 SUPPORT FILES and load the template: PAYROLLSelecting YES to the READ-ONLY dialogue box. 3 There are two worksheets in the template. Look over the PAYROLL sheetwhich will show the pay details for all employees. Click on the PAY ADVICE sheet. It will display the pay details for an individual employee. The employee would receive the PAY ADVICE printout when they receive their pay. 

4Save the template in your STORAGE folder under the file name: Ch16 EvesalonRemember to turn off the READ-ONLY RECOMMENDED option. Completing the Payroll Worksheet
The first sheets the payroll sheet showing the pay details for all the employees of the company. 1 Ensure that the PAYROLL worksheet is on the screen. 2 Position the cursor At cell G12. We need to calculate the OVERTIME RATE OFPAY. It is 1.5 times the NORMAL PAY RATE. 3. In cell G12 enter the fomula:E*12=1.

4. Auto fill the formula down for the other employees.
5 The GROSS PAY is the total weekly pay earned by the employee before deductions are taken out. We need to multiply the NORMAL HOURS by the NORMAL PAY RATE and the OVERTIME HOURS by the OVERTIME RATE then add the two results together. 6. Move the cursor to cell H12 and enter (D12*E12) + (F12*G12). 7. Auto fill the formula down for the other employees.

NOTE: The brackets in the GROSS PAY formula are not really necessary, but they help to separate the two calculation sections and make the formula easier to understand.

8. The SUPERANNUATION is the amount contributed by employee’s eachweek to a retirement fund. It is usually a percentage of the employee’s Gross Pay. We will use a rate of 5% here. 9 Set the cursor

at cell I12 and enter:= H12 * 5%
the other employees.
The Tax Calculation
Normally the TAX is calculated through a series of lookups which you did in anearlier chapter. This could be done at the right of the payroll and set not to printwhen the payroll is printed. To make things a little easier we will use a base taxrate of 25%. Set the cursor at cell J12 and enter:= H12 * 25%

the other employees.
Calculating the Net Pay
The NET PAY is the GROSS PAY minus the deductions (superannuation and tax), Set the cursor
at cell K12 and enter:= H12 - I12 - J12
the other employees.
Printing the Payroll...
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