New Payroll Executive Here: How Do I Set Up Payroll in Excel for My Company?

Hi, can you please tell me the format of payroll in an Excel sheet? I am new to this field and I want all the information about payroll because I will be handling the salaries of the employees. Please help me as I have joined a company as a payroll executive. Thank you.

The significance of Payroll is to generate and manage employee salaries in an organization, which also consists of calculations in other contributions made thereof, tax deductions, etc. Here is a link from CiteHR that explains Payroll & Compensation methods to ensure the basic need to comprehend. https://www.citehr.com/99840-complet...pensation.html

Hi Seetal.mali, here are some of the main points to start. It's late to answer you, but it can help you in the future and others as well.

Create a Payroll Account

The first step is to create a Payroll account. To do this, click on "Payroll" at the top right corner of the screen. Then click on "Create New Payroll Account." You will then be prompted to enter your company name, address, phone number, email address, and tax ID. Once you have entered these details, click on "Next Step."

Set Up Your Employees

After setting up your company, you need to set up each employee. Click on "Add Employee." Enter their full name, social security number, date of birth, gender, and job title. Next, select whether they are active or inactive. If they are inactive, you will not receive any paychecks.

Add Wages & Deductions

You now need to add wages and deductions. Click on "Wage Types." Select "Salary," "Social Security," and "Other Income." Under "Other Income," you can choose between "Dividends," "Interest," and "Rents."