1. LESSON 12-1 Preparing Payroll Time Cards
2/23/2019
LESSON 12-1
Preparing Payroll Time Cards

2. Vocabulary Salary Pay period Payroll Total Earnings Payroll Taxes
Withholding Allowance
Social Security Tax
Medicare Tax
Tax base
Net Pay
Payroll Register
Employee Earnings Record

3. Preparing Payroll Timecards
Read Paying Employees – p. 340
Payroll = one of largest expenses for businesses
Salary– money paid for services
Pay Period – period covered by salary payments
Weekly, Bi-weekly, Semimonthly, Monthly
Payroll- total amount earned by all employees
Read FYI p. 340

4. Keeping Time Records Discussion:
What different ways can businesses keep time records?
What types of systems due your employers use?
What happens if you are late to the job? (few minutes)
How do they record overtime?
Do you have to record time away from job – break?

5. ANALYZING A PAYROLL TIME CARD
page 341
LESSON 12-1

6. 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

7. 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

8. TERMS REVIEW salary pay period payroll total earnings page 344
LESSON 12-1