9780072982435

Payroll Records and Procedures

by ;
  • ISBN13:

    9780072982435

  • ISBN10:

    0072982438

  • Edition: 5th
  • Format: Paperback
  • Copyright: 2005-04-26
  • Publisher: McGraw-Hill Education

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Supplemental Materials

What is included with this book?

Summary

Payroll Records and Procedures, 5e, by Haddock/Cohen consists of a student text-workbook, and practice set. The program presents payroll activities and related materials as a single unit and includes a comprehensive practice set that is available separately or shrink-wrapped with the text-workbook. The easy-to-read presentation of topics helps students develop efficient working procedures. Numerous illustrations and examples using federal and state forms support content.

Table of Contents

Payroll Laws and Regulations
1(16)
Federal Income Tax Laws
1(1)
State and Local Income Tax Laws
2(1)
Social Security Laws
2(2)
Required Payroll Records
4(1)
Federal Unemployment Tax Act and State Unemployment Tax Acts
4(1)
The Fair Labor Standards Act
5(1)
State Minimum Wage Laws
6(1)
Other Laws Affecting Wages
7(1)
Workers' Compensation Insurance
7(1)
State Disability Benefit Laws
8(1)
Fair Employment Laws
8(1)
Pension Security Laws
9(1)
The Immigration Reform Act
9(1)
New Hire Reporting
9(1)
Summary
10(1)
Study Questions
10(1)
Discussion Questions
11(2)
Learning Through Practice Exercises
13(2)
Alternate Learning Through Practice Exercises
15(2)
New Employee Records
17(37)
Ingram Heating and Cooling
17(1)
A New Employee Joins the Company
18(4)
The Personnel File
22(1)
The Social Security Number
22(2)
Employment Eligibility Verification
24(3)
The Withholding Allowance Certificate
27(3)
New Hire Reporting to the States
30(1)
The Employee Earnings Record
31(1)
Confidentiality
32(1)
Summary
33(1)
Study Questions
33(1)
Discussion Questions
33(1)
Review Exercises
34(1)
Learning Through Practice Exercises
35(10)
Alternate Learning Through Practice Exercises
45(9)
Time and Work Records
54(24)
Payroll Periods
54(1)
The Need for Time Records
55(1)
Timekeeping Devices and Systems
56(1)
Time Clocks and Time Cards
56(1)
Computing Time Worked
57(3)
Time Sheets
58(2)
Filing Time Records
60(1)
Dealing with Lateness to Work
60(2)
Finding a Solution
61(1)
Work-at-Home Arrangements
61(1)
Flextime Systems
61(1)
Work Records
62(2)
Production Records
62(1)
Sales Records
62(1)
Labor Distribution
62(2)
Other Kinds of Workers
64(2)
Temporary Workers
64(1)
Contract Workers
65(1)
Summary
66(1)
Study Questions
66(1)
Review Exercises
67(4)
Learning Through Practice Exercises
71(4)
Alternate Learning Through Practice Exercises
75(3)
Determining Gross Earnings
78(22)
Computing Gross Earnings
78(1)
The Hourly Rate Plan
79(1)
Handling Overtime Payments
79(2)
Night Bonus
81(1)
Meal Break
82(1)
The Salary Plan
82(2)
Adjusting the Pay of Salaried Employees
82(1)
Biweekly, Semimonthly, and Monthly Salaries
83(1)
The Piece-Rate Plan
84(1)
Meeting FLSA Minimum Wage Requirements
85(1)
The Commission Plan
86(1)
The Salary-Plus-Commission Plan
87(1)
Bonuses and Profit-Sharing Payments
88(1)
Bonuses
88(1)
Profit-Sharing Payments
88(1)
Tips
89(1)
Accuracy in Payroll Work
89(1)
Summary
90(1)
Study Questions
90(1)
Review Exercises
91(1)
Problems
91(2)
Learning Through Practice Exercises
93(4)
Alternate Learning Through Practice Exercises
97(3)
Determining Payroll Deductions
100(27)
Determining Federal Income Tax
101(2)
The Wage-Bracket Method
101(2)
Other Systems for Determining Withholding Tax
103(1)
Reading the Wage-Bracket Tables Properly
103(3)
The Zero Allowance Column
103(2)
The Wage-Bracket Lines
105(1)
Using a Guide to Read the Wage-Bracket Lines
105(1)
Determining Social Security Tax
106(1)
Computing Social Security Tax
106(1)
Maximum Social Security Tax
107(1)
Determining Medicare Tax
107(1)
Earnings Not Subject to Social Security and Medicare Taxes
108(1)
State and Local Income Taxes
108(2)
Computing State Withholding Tax
108(1)
State Disability Insurance Tax
109(1)
State Unemployment Compensation Tax
110(1)
Garnishments
110(1)
Treatment of Tips for Federal Withholding Taxes
110(1)
Deductions Required by Union Contracts
110(2)
Voluntary Deductions
112(2)
Insurance
113(1)
Pension Plans
113(1)
Savings Plans
114(1)
Charitable Contributions
114(1)
Computing Net Pay
114(1)
Summary
115(1)
Study Questions
116(1)
Review Exercises
116(2)
Problems
118(5)
Learning Through Practice Exercises
123(2)
Alternate Learning Through Practice Exercises
125(2)
The Payroll Register
127(28)
Using the Percentage Method with the Wage-Bracket Tables
127(3)
Computing California Income Tax when Earnings Exceed the Wage Brackets
130(1)
Format of the Payroll Register
130(7)
Making Entries in the Payroll Register
130(1)
Recording Hours Worked
131(2)
Entering Employee Earnings
133(1)
Dealing With Different Payroll Needs
133(1)
Payroll Deductions
134(1)
Computing and Recording Net Pay
135(1)
Totaling and Proving the Payroll Register
135(1)
Proving the Payroll Register
135(2)
Checking Payroll Computations for Accuracy
137(1)
Reading the Payroll Register
137(1)
Using the Payroll Register
138(1)
Summary
139(1)
Study Questions
139(1)
Review Exercises
140(1)
Problems
141(6)
Learning Through Practice Exercises
147(4)
Alternate Learning Through Practice Exercises
151(4)
Employee Earnings Records
155(17)
The Format of the Employee Earnings Record
156(2)
Making Entries in the Employee Earnings Records
158(1)
Nearing Maximum Taxes
159(1)
Care in Making Entries
159(1)
Totaling the Employee Earnings Records
159(2)
Using Employee Earnings Records
161(1)
Internal Control of Payroll Records
161(1)
Retention of Payroll Records
162(1)
Summary
162(1)
Study Questions
162(1)
Discussion Questions
162(1)
Review Exercises
163(1)
Problems
164(3)
Learning Through Practice Exercises
167(2)
Alternate Learning Through Practice Exercises
169(3)
Paying Employees
172(22)
Paying in Cash
172(2)
Employee Receipts
173(1)
The Risks of Paying in Cash
174(1)
Paying by Check
174(2)
The Use of a Special Payroll Account
176(1)
Preparing Payroll Checks
176(1)
Writing Checks by Hand
176(1)
Typing Checks
176(1)
Voiding Checks
176(1)
Verifying the Accuracy of Checks
177(1)
Paying by Direct Deposit in Employee Checking Accounts
177(1)
Employee Pay Statements
177(1)
Payroll Processing by Service Bureaus
177(2)
A Service Bureau Client
178(1)
Computerized Payroll Procedures
179(1)
A Computerized Payroll System in a Small Business
179(2)
Computerized Payroll Accounting
181(1)
Internal Control
182(1)
Summary
183(1)
Study Questions
183(1)
Discussion Questions
183(1)
Review Exercises
184(1)
Problems
185(2)
Learning Through Practice Exercises
187(4)
Alternate Learning Through Practice Exercises
191(3)
Federal Payroll Taxes and Tax Returns
194(40)
The Employer's Share of Social Security and Medicare Taxes
195(1)
Computing the Tax
195(1)
Social Security and Medicare Taxes on Tips
196(1)
Depositing Social Security and Medicare Taxes and Federal Income Taxes
196(1)
When to Deposit
196(1)
The Lookback Period
197(1)
Monthly Deposit Example
197(1)
Semiweekly Deposit Examples
198(1)
Deposits Made by Electronic Funds Transfer and by Check
198(2)
IRS Ruling Reduces Number of Deposits by Small Businesses
200(1)
Reporting Social Security, Medicare, and Federal Income Taxes
200(5)
Schedule B of Form 941, Employer's Record of Federal Tax Liability
200(1)
Form 941, Employer's Quarterly Federal Tax Return
200(4)
Form 941-V, Payment Voucher
204(1)
Form 8109, Federal Tax Deposit Coupon
204(1)
Completing Form 8109
205(1)
Deposit Exceptions
205(1)
Deposits on Banking Days
205(1)
Authorized Depositaries
205(1)
Forms W-2 and W-3
206(4)
Form W-2, Wage and Tax Statement
206(2)
Form W-3, Transmittal of Wage and Tax Statements
208(2)
Federal Unemployment Compensation Tax
210(5)
The Unemployment Insurance System
210(1)
Computing the FUTA Tax
210(1)
Depositing the FUTA Tax
211(1)
Reporting the FUTA Tax
211(1)
Completing Form 940-EZ, Employer's Annual Federal Unemployment (FUTA) Tax Return
212(3)
Summary
215(1)
Study Questions
215(1)
Review Exercises
216(1)
Problems
217(2)
Learning Through Practice Exercises
219(8)
Alternate Learning Through Practice Exercises
227(7)
State Payroll Taxes and Tax Reports
234(29)
Reporting Newly Hired Employees
234(1)
State Unemployment Compensation Tax
235(3)
Computing the SUTA Tax
235(2)
Responding to Unemployment Benefit Claims
237(1)
State Disability Insurance Tax
237(1)
Workers' Compensation Insurance
238(1)
An Example of Workers' Compensation Insurance
238(1)
Special State Payroll Taxes
239(1)
State Income Tax
239(3)
Obtaining Information About State Income Tax
239(1)
Depositing and Reporting State Withholding and Payroll Taxes
240(1)
Due Dates for Depositing State Withholding and Payroll Taxes
241(1)
Quarterly Wage and Withholding Report
242(1)
Annual Reconciliation Statement
242(1)
Wage and Tax Statements
242(1)
Local Income Tax
243(2)
Setting Up a Payroll Calendar
245(2)
Summary
247(1)
Study Questions
247(1)
Discussion Questions
247(1)
Review Exercises
248(1)
Problems
249(2)
Learning Through Practice Exercises
251(6)
Alternate Learning Through Practice Exercises
257(6)
Accounting for Payroll
263(36)
The Subsidiary Payroll Module Within the Accounting System
263(1)
Accounting Records for Payroll
264(1)
Double-Entry Accounting
264(2)
Chart of Accounts
266(1)
Understanding the Ledger Accounts
267(3)
Salaries and Wages
268(1)
Amounts Withheld from Salaries and Wages
268(2)
The Employer's Payroll Taxes
270(1)
Journalizing and Posting Entries for Payroll
270(5)
Recording Employee Earnings and Deductions
271(1)
Computing the Employer's Payroll Taxes
271(1)
Social Security and Medicare Taxes
271(1)
Federal and State Unemployment Taxes
272(2)
Other Employer Taxes
274(1)
Recording the Employer's Payroll Taxes
274(1)
Journalizing and Posting Payment of the Payroll
275(1)
Journalizing and Posting Deposits of Payroll Taxes
276(3)
Frequency of Tax Deposits
276(1)
Remitting Federal Withholding Taxes
276(1)
Remitting State Withholding Taxes
277(1)
Remitting Federal Unemployment Tax
277(1)
Remitting State Unemployment Tax and ETT Tax
278(1)
Journalizing and Posting Payment of Amounts Withheld for Voluntary Deductions
279(1)
Accounting for Employee Bonus Payments
280(1)
Summary
280(1)
Study Questions
281(1)
Review Exercises
281(1)
Problems
282(5)
Learning Through Practice Exercises
287(6)
Alternate Learning Through Practice Exercises
293(6)
Appendix
299(9)
Tax Tables
Glossary of Payroll Terms 308(3)
Index 311

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