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- A payroll example is a document or a record that shows how an employee’s pay is calculated and paid12.A payroll example may include12:
- Employee details such as name, ID number, department, designation, and Tax Identification Number (TIN)
- Company name, address, and sometimes a logo
- The period covered by the pay
- Gross pay, which is the total earnings before any deductions
- Deductions from contributions to government-mandated benefits, taxes, loans, and any other deductions specified in the employee’s contract
- Net pay, which is the amount the employee receives after deductions
- A journal entry that shows the employee’s gross wages, deductions, and net pay, as well as the taxes the business owes and pays for that employee.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Typically, a payslip would contain the following information:
- Employee details such as name, ID number, department, designation, and Tax Identification Number (TIN)
- Company name, address, and sometimes a logo
www.eezi.com/philippine-payroll-sample/Here’s a journal entry example: Journal 1 shows the employee’s gross wages ($1,200 for the week). After subtracting some of the most common payroll taxes, the employee’s wages payable or “take-home” pay is $925. The second journal entry shows your business paying all those federal taxes, plus the taxes the business owes, for that employee.quickbooks.intuit.com/r/payroll/guide-to-payroll-acc… 15 Free Payroll Templates - Smartsheet
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