You are viewing the article How to Make Payroll in Excel in USA at Lassho.edu.vn you can quickly access the necessary information in the table of contents of the article below.
This article is co-authored by a team of editors and trained researchers who confirm the accuracy and completeness of the article.
The wikiHow Content Management team carefully monitors the work of editors to ensure that every article is up to a high standard of quality.
This article has been viewed 1,600 times.
This wikiHow teaches you how to calculate payroll for employees in the US using Microsoft Excel. Creating a payroll spreadsheet from scratch is an exhausting process, but luckily Microsoft has a payroll template for Excel on both Windows and Mac computers.
Steps
Create payroll
- This spreadsheet is a free Excel template from Microsoft.
- Depending on your browser, you may need to choose a save location and then click Save first before the file will download.
Enter employee information
- Tax Status – Tax status. This number (usually “1”) is shown on the employee’s W-2.
- Federal Allowance – Federal allowance. This is the number that identifies the employee’s tax bracket and is usually shown on the W-4.
- State Tax (Percentage) – Your state’s taxable percentage.
- Federal Income Tax (Percentage) – The percentage of federal income tax under the employee tax bracket.
- Social Security Tax (Percentage) – Current Social Security tax percentage.
- Medicare Tax (Percentage) – The current U.S. government percentage of Medicare taxes on care for seniors over 65.
- Total Taxes Withheld (Percentage) – Percentage of total tax withheld. This field will be calculated automatically after you fill in other tax fields.
- Insurance Deduction (Dplars) – Insurance deductible. This is the dollar amount you keep for insurance.
- Other Regular Deduction (Dplars) – Other regular deductions or kickbacks of any money you keep.
Payroll calculation
- Overtime pay rates are typically 150 percent higher than the employee’s normal rate (“one and a half times”).
- For example, if the employee took a deduction to purchase equipment, you’ll need to enter the amount here for a one-time payment.
- You can also check pre-tax amounts in the “Gross Pay” column.
- You can check the employee’s payslip in the PAYROLL PAYSTUBS or Individual Paystubs tab at the bottom of the page after the calculation is complete.
Advice
- Once you’ve finished calculating a pay period, it’s a good idea to save the sheet before deleting and creating a new payroll.
Warning
- Do not delete any preformatted cells (such as cells with pre-formulated formulas) as this will cause the payroll spreadsheet to fail.
This article is co-authored by a team of editors and trained researchers who confirm the accuracy and completeness of the article.
The wikiHow Content Management team carefully monitors the work of editors to ensure that every article is up to a high standard of quality.
This article has been viewed 1,600 times.
This wikiHow teaches you how to calculate payroll for employees in the US using Microsoft Excel. Creating a payroll spreadsheet from scratch is an exhausting process, but luckily Microsoft has a payroll template for Excel on both Windows and Mac computers.
Thank you for reading this post How to Make Payroll in Excel in USA at Lassho.edu.vn You can comment, see more related articles below and hope to help you with interesting information.
Related Search: