How to Make a Professional Employee Payroll Table in Excel скачать в хорошем качестве

How to Make a Professional Employee Payroll Table in Excel

Learn: The Quick & easy way How to Make a Professional Employee Payroll Table in Excel In this video, you will learn: 1. How to Make a Professional Employee Payroll Table in Excel 2. Payroll in Excel While most organizations turn their heads towards software like Tally, ADP, or ERP for payroll, or they give a contract to some outsourcing companies to provide them with payroll services without any fuss. There are several reasons for this approach. However, the core of those is that it is very time-consuming to do all the manual work for payroll and have it set. Apart from that, it consumes manpower engaged as well. With all the ease it makes for them to be considered, some businesses prefer to do payroll work on their own (in-house) and manage it accordingly. It is a time, cost, and manpower-consuming task; it gives you total control over your employee’s payroll and each penny you spend on them simultaneously. To do payroll manually, you need something (definitely a tool) that is powerful, versatile, and easy to handle at the same time. With all these requirements, you can easily guess the tool. Yes, you might have guessed it right! Microsoft Excel. The range of simple formulae and its simple layout make excel stand out for those who do payroll manually for their employee. This video tutorial will show you how you can create a payroll manually from scratch. Payroll in Excel is very simple and easy. Let’s understand how to create the Payroll in Excel with a few steps. In this table, as you can see, the Total Hours Worked and Total Overtime Hours are considered on a monthly basis (because we pay the employee on a monthly basis, right?). Therefore 190 means the total hours worked during the month. The same is the case with total hours of overtime. Also, the Pay/Hour and Overtime/Hour are in Dollars (USD). Therefore, we will Formulate Gross Pay. Gross Pay is the sum of the product of Pay/Hour, Total Worked Hours, and Overtime/Hour, Total Overtime Hours. (Pay/Hour * Total Hours Worked) + (Overtime/Hour * Total Overtime Hours). The payroll sheet can be formulated under cell H3 as =(D3*E3)+(F3+G3). It’s a simple formula, anyway. After using the formula, the answer is shown in the cell H3 Drag the same formula from cell H3 to cell H14. To calculate the Income Tax, you need to check how much percentage of tax your employee pays on the total gross pay. Income Tax is always calculated on Gross Pay. In this case, we will consider 20% of Income-tax on all the Gross Pay. Therefore, the income tax formula becomes =0.20 * Gross Pay. In terms of excel, the payroll sheet can be formulated under cell i3 as =0.20*H3 (Column H contains Gross Pay amount). Drag the same formula in cells i3 to i14. Also, you must mention other deductibles for a particular employee if any. These deductibles may contain the premium of health/life insurance, professional taxes, or if any loan is taken from an organization, etc. add these amount values under column J. If there is no other deductible for a particular employee, you can set the value under column J for that employee to zero. Now, finally, we come towards Net Pay. Net Pay is the amount that gets credited into your employee’s bank account after all the deductions from Gross Pay. Therefore, in this case, we will deduct (subtract) Income Tax (column i) and Other Deductibles (Column j), which can be formulated under cell I2 as =H3-(i3+J3). Income Tax and Other Deductibles are summed up and then subtracted from Gross Pay. Drag the same formula in cell K3 to cell K14. This is how to create the payroll under excel to manage things independently. Add all the employee names working for you in this payroll one by one and set their total worked hours, overtime hours, deductibles, and charges accordingly. Also, add some formatting to the cells and add the total at the end of the sheet. The final Payroll should look like this on my screen. There are more advanced tools available to have your payroll done. However, creating your own in excel gives you security because you are monitoring your own payroll there. • Some more columns might be added, like health insurance premiums, life cover premiums, etc. However, this is a simple layout. ………………………………………………………………………………………………………………………. Share this video:    • How to Make a Professional Employee Payrol...   For more simple and easy to follow How to videos, Click the Link Below to subscribe:    / @learnexcelwitht   Join this channel to get access to the perks:    / @learnexcelwitht   #Payroll spreadsheet #Payroll management #Tax deductions LearnexcelwithT