PAYROLL OVERPAYMENT REPORT
Prepared by: [Your Name], Payroll Department
I. Employee Information
Employee Name | Employee ID | Department |
|---|
John Doe | 12345 | Finance |
Jane Smith | 67890 | Sales |
Michael Johnson | 54321 | Marketing |
Emily Brown | 98765 | Operations |
II. Overpayment Details
Overpayment Date | Amount Overpaid ($) | Reason for Overpayment |
|---|
2055-06-15 | 500 | Calculation error in overtime hours |
2055-06-30 | 300 | Mistake in bonus calculation |
2055-07-05 | 200 | Incorrect commission adjustment |
2055-07-10 | 400 | Double payment for vacation leave |
III. Recovery Plan
A. Deduction from Future Payments
Plan: Deduct overpaid amount from upcoming payroll cycles.
Start Date: Effective from the next payroll processing.
Amount: $50 per pay period until fully recovered.
B. Lump Sum Repayment
Plan: Request employees to repay the full overpayment amount in a single lump sum.
Deadline: Within 30 days of notification.
Confirmation: Signed agreement by employees acknowledging the repayment.
C. Other Arrangements
Plan: Customize repayment schedules based on individual employee circumstances.
Approval: Requires approval from HR and Finance departments.
Terms: Monthly installments over 6 months, starting August 2055.
IV. Approval and Review
Reviewed By | Date | Approved By | Date |
|---|
Payroll Administrator | 2055-07-05 | Payroll Manager | 2055-07-06 |
V. Notes or Comments
A. Context for Overpayment
Note: The overpayments stemmed from various administrative errors, including miscalculations in overtime, bonuses, commission adjustments, and vacation leave.
B. Actions Taken
Note: Employees have been individually notified about the overpayments and the chosen repayment method as per company policy.
C. Follow-Up
Note: Monitor payroll deductions closely to ensure accurate recovery of overpaid amounts within the stipulated timelines, maintaining transparency and fairness in payroll practices.
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