The Human Resources Management and Payroll Cycle
Learning Objectives
INTRODUCTION
Human Resource Management Process
INTRODUCTION
INTRODUCTION
Payroll Cycle Activities
Update Master Payroll Data
1. Update Master Payroll Data
2. Validate Time and Attendance Data
3. Prepare Payroll
4. Disburse Payroll
5. Disburse Payroll Taxes
OUTSOURCING OPTIONS
Reasons to Outsource Payroll

3. Prepare Payroll

Payroll deductions are summed and subtracted from gross pay to obtain net pay.  There are two types of deductions:Payroll tax withholdingsVoluntary deductionsYear-to-date totals for gross pay, deductions, and net pay are calculated, and the master file is updated.  Cumulative records are important because:Social Security and other deductions cease or decline at certain levels.The information will be needed for tax reports.