LESSON 12-1 Preparing Payroll Time Cards

Slides:

Advertisements

Similar presentations

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

Advertisements

LESSON 12-1 Preparing Payroll Time Cards Did you know… Payroll is one of the largest expenses to a business?

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Thursday, May 3, 2012 Good morning Moment of silence/Pledge/Announcements Bell Ringer Chapter.

Preparing Payroll Records

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

Preparing Payroll Records

Chapter 13 Preparing Payroll Records. Salary The money paid for employee services.

Chapter 13 – Preparing Payroll Records

Preparing Payroll Records

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

Chapter 12 Preparing Payroll Time Cards. 2 L 12-1 Paying Employees page 341 Money paid for employee services is called a salary. The period covered by.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

Preparing Payroll Records Preparing Payroll Time Cards Salary – money paid for employee services Pay period – period covered by a salary payment.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions Modified by D. Burns West Johnston.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

PAYROLL ACCOUNTING. WHAT IS PAYROLL?  Payroll – total amount earned by all employees for a pay period.  Pay Period – an amount of time over which an.

LESSON 12-1 Preparing Payroll Time Cards

LESSON 12-1 Preparing Payroll Time Cards

LESSON 12-1 Preparing Payroll Time Cards Payroll, What is it? Think about a business and how they may handle how they pay employees. From an accounting.

CENTURY 21 ACCOUNTING © Thomson/South-Western 1 LESSON 12-1 CHAPTER 12 OBJECTIVES PREPARING PAYROLL RECORDS DEFINE TERMS RELATED TO PAYROLL RECORDS COMPLETE.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards  Paying employees  Analyzing a payroll time card.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

Warm-Up Calculate the total hours worked for the week AM PM DayIn OutIn Out Mon7:30 12:401:30 5:50 Tues5:45 10:1511:15 2:00 Wed6:00 11:2012:15 7:45 Thurs8:30.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 12-1 Preparing Payroll Time Cards.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Completing Payroll Records for Employee Earnings and Deductions.

Gross Earnings, Wages and Salaries Chapter 6: Payroll Section 6.1.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-1 Preparing Payroll Time Cards Original created by M.C. McLaughlin, Thomson/South-Western Modified.

ANALYZING A PAYROLL TIME CARD Lesson 13-1, page 312 Omni uses a time clock – provides “internal control”

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Chapter 3 Objectives 1.I can define accounting terms related to a departmental payroll system.

Chapter 3 Departmental Payroll. After the payroll register has been prepared, a check is written to transfer the total net pay amount from the regular.

Preparing Payroll Time Cards Lesson Paying Employees Salary: money paid for employee services Salary: money paid for employee services Weekly Weekly.

Processing Payroll Review. Lesson 12-1 Calculate regular hours. 1 1 Calculate overtime hours. 2 2 Calculate total hours. 3 3.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Happy Tuesday!! Check your test grades!! Vocab quiz tomorrow!! Please have all vocab completed.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-1 Preparing Payroll Time Cards How often do people get paid? What’s the difference between Gross.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Today’s Target! Wed., March 2 nd  Students will ledger Subsidiary Accounts and post to General.

© 2014 Cengage Learning. All Rights Reserved.

LESSON 12-1 Preparing Payroll Time Cards

Preparing Payroll Records

How much should I get for working??…

Payroll Accounting $ $ $ $ Making Accounting Relevant Chapter 12

© 2014 Cengage Learning. All Rights Reserved.

Hosted by Ms. Appel.

© 2014 Cengage Learning. All Rights Reserved.

© 2015 Cengage Learning. All Rights Reserved.

Chapter 20 THE PAYROLL.

Welcome Back Glencoe Accounting.

PAYROLL REGISTER 1. Pay Period Date 8. Health Insurance

LESSON 12-3 Preparing Payroll Records

LESSON 12-3 Preparing Payroll Records

BENEFITS AUTHORIZATION

LESSON 12-4 Preparing Payroll Checks

LESSON 12-1 Preparing Payroll Time Cards

ANALYZING A PAYROLL TIME CARD

LESSON 12-1 Preparing Payroll Time Cards

Preparing Payroll Records

© 2014 Cengage Learning. All Rights Reserved.

LESSON 12-1 Preparing Payroll Time Cards

Preparing Payroll Records

LESSON 12-3 Preparing Payroll Records

Payroll Accounting $ $ $ $ Making Accounting Relevant Chapter 12

LESSON 12-1 Preparing Payroll Time Cards

© 2014 Cengage Learning. All Rights Reserved.

PAYROLL REGISTER 1. Pay Period Date 8. Health Insurance

ANALYZING A PAYROLL TIME CARD

LESSON 12-3 Preparing Payroll Records

Presentation transcript:

LESSON 12-1 Preparing Payroll Time Cards 5/16/2019 LESSON 12-1 Preparing Payroll Time Cards

Terms to Know… Salary is the money paid for each employees service. A pay period is the time period covered by a salary payment. (ie. 3/22 – 4/11) Payroll is the total amount earned by all employees for a pay period. Total earnings is the total payroll earned for a pay period prior to tax deductions. LESSON 12-1

Calculating Payroll 360.00 67.50 427.50 Overtime rate is calculated by multiplying regular pay rate by 1.5 (time-and-a-half) ie. 9.00 x 1.5 = $13.5 LESSON 12-1

Hours Worked X Regular Rate LESSON 12-1

ANALYZING A PAYROLL TIME CARD page 341 LESSON 12-1

CALCULATING EMPLOYEE HOURS WORKED page 342 1. Calculate the number of regular hours for each day and enter the amounts. 1 2. Calculate the number of overtime hours and enter the amounts. 3. Add Hours Reg and Hours OT columns and enter the totals. 2 4. Add the Hours column. 3 4 LESSON 12-1

CALCULATING EMPLOYEE TOTAL EARNINGS page 343 1. Enter the rate for regular time in the Rate column. 2. Calculate the regular earnings. Enter the amount. 3. Enter the rate for overtime. 4. Calculate the overtime earnings. Enter the amount. 5. Add the Amount column to calculate total earnings. Enter the amount of total earnings. 1 2 4 3 5 LESSON 12-1

LESSON 12-1 5/16/2019 LESSON 12-1

LESSON 12-1