Excel Assignment (15%):
TO DEVELOP PAYROLL SYSTEM (3 to 6 month Data)
Payroll consists of a process by which a business pays its employees for work performed during a
specific period. It allows businesses to follow a set series of processes in order to make timely, correct
payments in compliance with Government regulations. You have to design a payroll system for company
ABC (in Excel) following a specific set series of processes/excel worksheet as mentioned below:
General Information: In this first sheet of our payroll system, general information about the employees of
ABC Company, which would most probably be used in the sheets coming up, has been provided. ”NEW”
is written in brackets in front of the names of the new recruits of the company.
Pay Scale: In this sheet, a standard has been set for each grade in accordance with which the company
would pay the employees of those grades.
Allowances and Deductions: In this sheet, different allowances, commissions and bonuses granted to
the employees are mentioned, for all these will be added to the basic salary of the employees. Here the
retroactive pay that is the pay that the company owes its employees from a prior period is zero since the
company does not owe any amount to its employees from any prior period. By adding the basic salary
(for the specific hours an employee worked), all allowances, commissions, bonuses we get the gross
earning for each of the employees.
No of Hours worked: In this sheet, the specific number of hours that each of the employees of ABC
Company worked is mentioned. Since deductions would be made keeping in consideration the working
hours missed, the employees would get their income only for the hours they worked for. Employees who
missed some regular hours of work, deductions would be made from their basic salary while for those
who worked overtime, additions would be made in their basic salary as well.
Monthly Salary Sheet: In this sheet, net salary is calculated which is obtained after applying taxes on the
gross income.
Salary Slips: In this sheet, salary slips for all the employees are designed.
Tax Summary Report: This sheet contains the annual tax details that are applied on the income
of all the employees and the annual basic income as well as the annual tax.
Submitted By
Member names
BBA - 2K18
Section