At the end of each pay period (end of the month for salaries, end of the week for weekly wages, and at the end of a fortnight for fortnightly wages, a paysheet should be handed to each employee.

- A paysheet should contain at least the basic information regarding the employees earnings (basic salary or wage and any allowances, if any) the gross pay, the deductions from his / her salary, and the net amount payable or paid to the employee.

Additional information may also be reflected on a paysheet such as the Year to Date figures, Employers contributions, Accumulated leave, etc. Paysheets may be in different sizes, colours, etc. depending on the businesses systems and stationery they are using.

An example of paysheets for salaried staff is as follows:

The paysheets are usually summarised into a payroll report or summarised paysheet. It does not matter which system you are using, the payroll report should reflect the following basic information.

The following is an example of a summary of paysheets completed in a Spreadsheet:

The details for each employee are listed in a row on the spreadsheet. The last row (after all the employees details are entered) is totalled, and finally, the employer’s contributions are calculated for the deductions and levies.

The paysheets are entered in the spreadsheet as follows:

1. Earnings - column C and D
2. Gross Pay - column E
3. Deductions - column F to I
4. Gross Deductions (Total Deductions) - column J
5. Net Pay - column K - This is the Gross Salary or Wage minus the Total Deductions (or Gross Deductions).

This information needs to be entered in a Journal (General Journal or a Payroll Journal) in TurboCASH to record the expenses (salaries / wages and employer’s contributions) and the creditors (deductions and net salaries / wages).

If you pay the deductions (deducted from salaries / wages) and the Net salaries / wages to the employees, you need to enter these transactions in the Payments Journal (batch) for the bank account out of which you are making payments (cheques / bank transfers, etc.).

— digidan 2006/11/02 17:41