1. Three Journal Entries to Record a Payroll

2. Total Checks

3. Labor Distribution Columns

4. Total Checks Labor Distribution Columns Payroll Register Columns

5. Total Checks Labor Distribution Columns Payroll Register Columns Employer Paid Taxes

6. Getting The Data

7. Enter =

8. Getting The Data Click on Payroll Register Tab

9. Getting The Data Click on Payroll Register Tab Click on Net Paid Amount Total and Hit Enter

10. Getting The Data

11. Link to Payroll Register cell AK19 Value from Payroll Register cell AK19

12. Getting The Data Type =E5 and hit Enter

13. Getting The Data

14. Type = and click Payroll Register Tab

15. Click on Admin Total and hit Enter

16. Getting The Data

17. Same for the rest of the Labor Distribution Totals

18. Getting The Data Now for the deductions Type = and click on the Payroll Register Tab

19. Click on the OASDI total and hit Enter

20. Getting The Data There it is!

21. Getting The Data Same for the rest of the deductions.

22. Getting The Data Now for the Employer paid payroll taxes

23. Getting The Data Type = and click on the employee’s OASDI tax and hit Enter

24. Getting The Data Type = and click on the employee’s HI tax total and hit Enter

25. Getting The Data Type = and click on the employee’s HI tax total and hit Enter

26. Getting The Data Type =0.8%* and click on the Payroll Register Tab

27. Click on the FUTA Taxable Earnings Total and hit Enter

28. Getting The Data Type =3.5%* and click on the Payroll Register Tab

29. Click on the SUTA Taxable Earnings Total and hit Enter

30. Getting The Data Type =SUM( and click on the first tax

31. Getting The Data Type =SUM( and click on the first tax

32. Getting The Data Type : and click on the last tax

33. Getting The Data Type ) and hit Enter

34. Getting The Data DONE!

35. Getting The Data DONE!

36. Checking Our Work We know the first Journal entry is balanced, the debit and credit are equal We know the last Journal entry is balanced, the formula ensures that. But, the second entry we ought to check…..

37. Checking Our Work In the blank Description field below the last account type =SUM(E8:E20) -SUM(F8:F20) and hit enter to subtract all credits from all debits.

38. Checking Our Work In the blank Description field below the last account type =SUM(E8:E20) -SUM(F8:F20) and hit enter to subtract all credits from all debits.

39. Checking Our Work The 0.00 is what we want to see! (Be sure to delete the check function afterwards)

40. The next step is to post the Journal entries to the General Ledger

41. First, let’s post to Payroll Cash

42. The next step is to post the Journal entries to the General Ledger First, let’s post to Payroll Cash

43. The next step is to post the Journal entries to the General Ledger In the DEBIT column, type = and click on the Journal tab

44. The next step is to post the Journal entries to the General Ledger Click on the debit to Payroll Cash and Hit Enter

45. The next step is to post the Journal entries to the General Ledger There it is!

46. The next step is to post the Journal entries to the General Ledger Going to Cash…

47. The next step is to post the Journal entries to the General Ledger Type = and click on the Journal tab

48. The next step is to post the Journal entries to the General Ledger Click on the Credit amount and hit Enter

49. The next step is to post the Journal entries to the General Ledger What could be easier?

50. The next step is to post the Journal entries to the General Ledger What could be easier? But, what does it do for us?

51. The next step is to post the Journal entries to the General Ledger But, what does it do for us? Click on the Payroll Register tab

52. Let’s give Student 4 hours of Overtime

53. Net Paid changes from 11,297.11 to 11,757.52

54. And, all of these change

55. And, all the way through to the General Ledger!

56. So, there is what you can do with Excel. You can use, or lose; it’s your choice!