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Employee payroll is a section of HR (Human Resource) services that encompasses maintaining a record of the salary/wages of the company’s employees, assessing the salary based on employees’ attendance and processing the payments accordingly.
Many big/small organizations that don’t have the required time or manpower to do the employee payroll job and decide to outsource the same from a more suited and experienced organization. These services are called Payroll Services.
o They are automated, so less risks of human error.
o They are cost-effective.
o Can do automatic calculations of salary based on employees’ leaves, etc.
o Saves manpower
o Saves time
PEO_Services
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Who is the primary actor in a payroll system employee or the payroll officer?
admin and employee
What is payroll?
A Wage or monetary compensation paid to an employee for the service rendered by him is called PAYROLL
Where do you deduct payroll taxes on form 1120?
Payroll withholding is NOT an expense to the Company...it is part of payroll that you send to the IRS/State rather than give to the employee...although the cost of it is his salary. Other payroll costs are recorded as what they are..insurance, employee benefits, etc.
What is payroll journal?
A payroll journal is a listng of all payroll transactions, payments, adjustments, reversals and changes made to employee payroll records during a pay period.
Which of the following is not deducted from an employee's payroll?
Property taxes
Who is the primary actor in a payroll system employee or the payroll officer?
admin and employee
Employers usually prepare which types of payroll records?
payroll register, employee earnings record, and payroll check
What is payroll?
A Wage or monetary compensation paid to an employee for the service rendered by him is called PAYROLL
Where do you deduct payroll taxes on form 1120?
Payroll withholding is NOT an expense to the Company...it is part of payroll that you send to the IRS/State rather than give to the employee...although the cost of it is his salary. Other payroll costs are recorded as what they are..insurance, employee benefits, etc.
What is payroll journal?
A payroll journal is a listng of all payroll transactions, payments, adjustments, reversals and changes made to employee payroll records during a pay period.
Which of the following is not deducted from an employee's payroll?
Property taxes
What is payroll expense?
A payroll expense is an expense for an employee of a business. It is what is used to pay the workers in a company or organization.
What is expected of the employee with a sage payroll?
The Sage payroll card is basically the same thing as a direct deposit account. An employer, rather than depositing an employee's paycheck in a bank account, can deposit the money into a Sage payroll card. The employee will just have to complete an authorization form to begin this service.
When an employee goes on Family Medical Leave is there a waiting period in order for the employee to receive a paycheck?
An employee on FMLA leave is EMPLOYED and on the payroll. The leave may ne paid or unpaid, as the employee wishes, and paychecks come as often as other payroll employees.
How does a previous KBR employee obtain a copy of W2 or payroll records for 2008?
By contacting the KBR payroll department.
What electronically carries the balance of the employee's net pay?
payroll
Disadvantages of payroll?
The biggest disadvantage of a payroll system is that the employees will have to pay taxes on the income. The company will have to send the employee a tax document for the year so that the employee can accurately file their taxes.
