At the end of each pay period (end of the month for salaries,
end of the week for weekly wages, and at the end of a fortnight for fortnightly
wages, a paysheet should be handed to each employee. A paysheet should contain
at least the basic information regarding the employees earnings (basic salary or
wage and any allowances, if any) the gross pay, the deductions from his / her
salary, and the net amount payable or paid to the employee. Additional
information may also be reflected on a paysheet, such as the Year to Date
figures, Employers contributions, Accumulated leave, etc. Paysheets may be in
different sizes, colours, etc. depending on the businesses systems and
stationery they are using. An example of paysheets for salaried staff is as
follows:
The paysheets are usually summarised into a payroll report or summarised paysheet. It does not matter which system you are using, the payroll report should reflect the following basic information. The following is an example of a summary of paysheets done in the Lotus 123 Spreadsheet.
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The paysheets are usually summarised into a payroll report or summarised paysheet. It does not matter which system you are using, the payroll report should reflect the following basic information. The following is an example of a summary of paysheets done in the Lotus 123 Spreadsheet.
The details for each employee are listed in a row on the spreadsheet. The last row (after all the employees details are entered, is totalled. And finally the employer's contributions are calculated for the deductions and levies. The paysheets are entered in the spreadsheet as follows:
- Earnings - column C and D
- Gross Pay - column E
- Deductions - column F to I
- Gross Deductions (Total Deductions) - column J
- Net Pay - column K - This is the Gross Salary or Wage minus the Total Deductions (or Gross Deductions).
