Question

3 after setting up a new employees in the employee list. you want to prepare a...

3 after setting up a new employees in the employee list. you want to prepare a paycheck for the empoyee. describe the steps to pay an employee?.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
  1. Step 1: Establish your employer identification number. ...
  2. Step 2: Collect relevant employee tax information. ...
  3. Step 3: Choose a payroll schedule. ...
  4. Step 4: Calculate gross pay. ...
  5. Step 5: Determine each employee's deductions. ...
  6. Step 6: Calculate net pay and pay your employees. ...
  7. Step 7: Keep payroll records and adjust to mistakes.

  8. Step 8: Other considerations

    Keep in mind that you have to file your business's taxes on a quarterly and annual basis. It's important to consult with an accountant to understand how your payroll taxes fit into this aspect of your operations. These are the steps involved inorder to pay an employee...

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
what are some of the things you want to consider before setting up a computerized accounting...
what are some of the things you want to consider before setting up a computerized accounting system? how would you accomplish these steps?
If you were an administrator planning and setting up a brand-new nursing facility, what system would...
If you were an administrator planning and setting up a brand-new nursing facility, what system would you set for evaluating the performance of your employees? Would you include formal performance evaluation meetings between managers and employees? Why or why not? Please respond 500 words. Do not handwrite**
Ali, a new accounting clerk at a firm that had recently terminated several employees due to...
Ali, a new accounting clerk at a firm that had recently terminated several employees due to Budgetary cutbacks, accidentally viewed his supervisor’s biweekly paycheck. Not realizing that The paycheck included an annual bonus; Ali by mistake multiplied the gross pay by 26 to find Annual earnings. Ali was amazed that his supervisor appeared to earn more than twice the local Average for employees in an accounting supervisory position. Ali discussed this situation with a Friend, a recently terminated employee of...
9) In a panel discussion with 3 industry employees, 2 government employees, and 1 association employee,...
9) In a panel discussion with 3 industry employees, 2 government employees, and 1 association employee, how many ways can they be seated along a row… a) …with no restrictions (each person can sit anywhere)? b) …if the 3 industry employees must sit together (in any order) to the right of the others (also in any order)? c) …if, prior to sitting, each of the industry employees is paired up with a partner and these pre-assigned pairs must stay together...
When adding a new employee after the Payroll Setup has been completed, you using ______ a....
When adding a new employee after the Payroll Setup has been completed, you using ______ a. employee Center b. employee Record c. Employee File d. employee record
You want a new SUV. You have picked the one you want and are now negotiating...
You want a new SUV. You have picked the one you want and are now negotiating the price and terms. The vehicle company has given you two options: You can buy the car for $60,000 with 90% financing at an advertised rate of 0% for 36 months, i.e. you will pay $6,000 up front and then $1,500 a month for the following 3 years, beginning next month (a total amount of $60,000). Alternatively, they will give you a $4,000 discount...
Givens: You accept a job as an exempt employee, and will be paid $44,000.00 your first...
Givens: You accept a job as an exempt employee, and will be paid $44,000.00 your first year. You are paid monthly, and receive 10 paid holidays and two weeks of vacation after completing 8 months of working time. Deductions from your paycheck will occur as follows: 18% for federal income taxes; 4% for state income taxes; and 7.65% for FICA (Social Security and Medicare). Questions: A) what is your monthly paycheck after deductions? B) what are your monthly, and annual...
Your organization currently has a defined contribution pension plan with employees contributing up to 3% with...
Your organization currently has a defined contribution pension plan with employees contributing up to 3% with a company match. Effective with the first pay of the new year, new employees will no longer be enrolled in that plan. Instead, they will be enrolled in the new Group Registered Retirement Savings Plan (RRSP) with the same contribution options. In your own words, explain the difference in the T4 information slip reporting for these two groups of employees.
The manager of a new entertainment park is bearing in mind setting up an information desk...
The manager of a new entertainment park is bearing in mind setting up an information desk operated by an employee. The founder believes that a Quantitative Analyst can apply Queuing Theory principles and provides vital information for effective waiting line management. After a couple of days of data collection, the Analyst obtained information and concluded that people will arrive (following a poison distribution) at the desk at the rate of 30 per hour and it takes exactly 4 minutes to...
Assume you want to establish a set of standards for your employees in "the handling a...
Assume you want to establish a set of standards for your employees in "the handling a complaint from the company's customer complaint line".   Outline the important steps you would use in determining what should be considered.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT