Payroll Register in Excel

Microsoft Excel

Taxes are required by law Employees can choose to have other

deductions taken out of pay checks◦ Medical insurance◦ Life insurance◦ Union dues◦ Savings bonds or savings account◦ Friend of the Court◦ Garnishment◦ United Way or other Contributions

A company maintains a record for each employee that shows total earnings, total deductions, net pay, and accumulated earnings

Net pay is the amount the employee “takes home”, the amount a paycheck is written for

Accumulated Earnings is the total amount an employee has made year-to-date

A Payroll Register is a summary record of all employees for a pay period, their amount of total earnings, total deductions, and net pay

Each employee is entered individually, but totals for all employees is calculated at the bottom

Verifying the Payroll Register is correctTotal Earnings – Total Deductions = Total Net Pay

Payroll Register can have problems in Excel because of rounding

Increase/Decrease decimal buttons allows us to change the “look” of a number; it does NOT change the number

For example: Excel displays 10.77; number is really 10.76987

When totaling, Excel will use 10.76987 Sometimes causes totals to be off by a few

pennies

Workaround for rounding errors◦ =round(calculation,

number of decimals)◦ =round(G7*6.2%,2)

Whenever calculating with percentages, it is a good idea to use the Round formula