Payroll is the amount of a worker’s total payment made by the employer. It may be made at the end of the week or once every month. On the other hand, there are also daily wage workers who receive their payment at the end of each day. Different companies have different rules regarding the total payroll. Generally, the actual amount depends on a particular employee’s position, tax deductions, and other expenses.
In addition, benefits included in the overall pay package are also taken into consideration. Various other parameters may also be important for payroll processing. For instance, a company’s own unique payroll structure plays a significant role. Likewise, there are a number of payroll components which are based on the laws laid down by a specific country or state. The end result of payroll processing is the amount of a worker’s take-home salary. This requires perfect calculation.
Companies often hire proficient accountants for this job. However, a computerized payroll calculator can serve the purpose in a more efficient way. Firstly, human error is eliminated. Secondly, the entire task is accelerated.
The process can be carried out for hundreds of employees in no time. This is particularly important for large organizations. This special calculator can be customized according to the specific payment rules set by individual organizations. Modifications can be made at any time according to the changing conditions, such as increased or decreased tax percentages.
Overall, this type of calculator combines several benefits. Apart from its function of payroll processing, it can also serve as a payroll register as well as an employee information register. In short, these records can be integrated for extended simplicity. The stored information can be extracted easily. This, in turn, comes in handy during regular auditing sessions at organizations.
A payroll calculator template can be found on the internet. Such templates are designed by experts. They can be used to create personalized calculators for various organizations. Small and large businesses can both benefit from the perfect functionality. Companies can get rid of accountant dependency. In a nutshell, this can lead to a reliable system of payroll calculation.
Preview and Details of Template
File:Excel (.xls) 2007+ and iPad
Size 67 Kb | Download
File: OpenOffice (.ods) Spreadsheet [Calc]
Size 22 Kb | Download
License: ENERGY (Personal Use Only)
(Not for resale and distribution) by Kate Elizabeth(CEO)