The document discusses payroll accounting and deductions. It explains that payroll is the compensation paid to employees including wages and salaries. It outlines typical payroll deductions like social security taxes, federal and state income taxes, disability insurance, and voluntary deductions authorized by employees. It also covers calculating employee earnings including hourly, salary, commission, and overtime wages as well as the W-2 form used to report total annual earnings.

1. April 9, 2011Prepared by EmilyAKA Emily LiBKA EMLAMYAccounting for Payroll

2. What Is Payroll? One of the largest expenses of a business

3. Compensation paid to employees for performing services for the business

4. Governmental regulations

5. More to payroll than just take-home payTo Do: Lunch with Shanaynay

6. Make other friends

7. Clean the toilet

8. Meet SpongebobSquarepants

9. Skydive in Lodi♫ F is for friends who do stuff together, U is for you and me. N is for anytime and anywhere at all. Down here in the deep blue sea. ♫

10. Payroll DeductionsGross pay: total earnings of employee for particular payroll periodTake-home pay (net pay): amount of money employee actually takes home Subtract deductions from gross payDeductions consist of various taxes employer is required to withhold from employee’s payCHEM 118B:Cycloaddition reaction: two independent pi-electron systems bond to form new ring of atoms

11. WhyyyyyThe grass is greener on the other side.

12. In order to withhold taxes from employee’s paycheck, employer must know some things.Fill out W-4Form

13. Full name

14. Social security number

15. Home address

16. Marital status