Answered: What is payroll record ? what…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What is payroll record ? what imformation is included on a payroll record?

Expert Solution

Step 1

At the demand of a worker, employers should render payroll documents accessible for review and replication.

Step 2

Payroll records are a category of paperwork that an organization is required to keep with all employees in the workforce. Payroll reports detail the wages paid to workers as well as any cuts made in their salaries. The payroll department needs these reports in order to determine gross and net wages for workers. The information’s are;

Bereavement pay
Bonuses
Deductions
Gross wages
Hours worked
Net wages paid

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