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BusinessThe payroll process
By renplus
Category: Business. Viewed 405 times. Created March 2014.     Disclaimer.   
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Does your company have employees?
Is it payday?
Do you know how much each employee should be paid?
Do you have managerial approval for all employee pay for the period?
Have you computed their payroll taxes properly?









Do you know what pay method each employee needs?
Have you obtained approval for all employee pay for the period?
Have you completed the payroll register?
Have you included other employees' mandatory deductions?
Have you computed their voluntary deductions?









Have you issued the employees' pay?
Did you journalize and post the employee payroll transactions?
Did you update the employees' earnings records?
Have you computed the employer's share of the payroll taxes?
Did you journalize and post the employer's share transactions?









Did you transmit the remittances for employee mandatory and voluntary deductions
Are all outgoing remittances double-checked and approved?
Did you prepare remittances for employees' mandatory and voluntary deductions?
Did you deposit the payroll taxes?
Did you prepare tax deposits and have them checked for accuracy?









Have you prepared the appropriate tax returns?
Did you have the returns checked for accuracy?
Are the tax returns and any remittances approved and signed by the appropriate parties
Did you transmit the tax returns and remittances?
Have you prepared the financial statements and managerial reports?