One of the most important business activities employees are mainly concerned about is payroll. Payroll is important due to the fact that employees await the compensation they deserve after the work they rendered for the company. For a small business, you may not have the number of employees large companies do, but you are still obliged to generate payroll.
Creating a sheet for your payroll will be helpful since the computations needed for the employees’ pay is already available in a payroll sheet. The following payroll sheet template samples provided on this website illustrates the format you can follow for this specific document.
New Employee Payroll Sheet
Weekly Payroll Timesheet
Payroll Summary Sheet
How to Create a Payroll Sheet Template in Excel
Having a payroll sheet template prepared beforehand would be less difficult for the accounting staff to generate the needed employee payroll for the start up business. The following are the steps to creating a payroll sheet template in Excel format:
- Type in Payroll Column Headings in bold letters. The following elements of a basic payroll must be indicated as payroll sheet column headings:
- Employee’s Name
- Basic and Overtime Rates
- Regular and Overtime Work Hours
- Gross and Net Pay
- Income Tax
- Other Deductions
- Insert the appropriate formulas for each employee row. The computations needed for your payroll should be set with the use of the Excel formula functions. Other than the names, rates and work hours which is manually inputted, gross and net pay, income tax and relevant other deductions needs to computed.
- Edit the spreadsheet to your company’s specifications. Add the name of your company, your logo, and your preferred design for the payroll sheet template.
Other than the payroll sheet template in Excel, you can also use and follow the payroll sheet examples in Word format and payroll sheet examples in PDF format as provided on this website.
Free Payroll Sheet
Employee Payroll Information
Payroll Log Sheet
Tips on Payroll for Small Businesses
Payroll is an important part of a small business as it involves computation of the pay for the employees working in small-scale business. With this, there are tips you can follow:
- Set payroll regulations for your business with clarity. Your employees must be able to understand the payroll policies you follow like overtime regulations and implementation of deductions. Just like the training sheet templates of this website, clear instructions entail less hassle in making the payroll.
- Make use of appropriate and convenient payroll systems. There are various payroll systems you can use for the payroll of your business. Some of these systems are convenient ones, like payroll sample sheet in Excel format provided on this website and is available for your usage.
Preparing a payroll sheet for computing the payroll for your employees ensures the accuracy of the pay you give to the employees. A payroll sheet is essential for small business, like the one you are probably involved in, with simple payroll procedures. Be sure to follow your business’s payroll policies and try looking into the downloadable payroll template samples provided on this website for your perusal.