Payroll Accounting 2019, 29th Edition

Cover
Title Page
Copyright Page
Preface
As we go to Press
Acknowledgments
About the Authors
Contents
Chapter 1: The Need for Payroll and Personnel Records
	The Payroll Profession
	Fair Labor Standards Act
	Federal Insurance Contributions Act
	Income Tax Withholding Laws
	Unemployment Tax Acts
	Recordkeeping Requirements
	Fair Employment Laws
	Other Federal Laws Affecting the Need for Payroll and Personnel Records
	Other State Laws Affecting the Need for Payroll and Personnel Records
	Human Resources and Payroll Accounting Systems
	Human Resources System
	Recordkeeping System
	Payroll Accounting System
Chapter 2: Computing Wages and Salaries
	The Fair Labor Standards Act
	Determining Employee’s Work Time
	Records Used for Timekeeping
	Methods of Computing Wages and Salaries
Chapter 3: Social Security Taxes
	Coverage Under FICA
	A Self-Employed Person
	Employer Identification Number
	Employee’s Application for Social Security Card (Form SS-5)
	Returns Required for Social Security Purposes
	Preparing Form 941 (Employer’s Quarterly Federal Tax Return)
	Failure-to-Comply Penalties
Chapter 4: Income Tax Withholding
	Coverage Under Federal Income Tax Withholding Laws
	Tax-Deferred Retirement Accounts
	Withholding Allowances
	Federal Income Tax Withholding
	Other Methods of Withholding
	Supplemental Wage Payments
	Wage and Tax Statements
	Returns Employers Must Complete
	Information Returns
	Independent Contractor Payments
	Backup Withholding
	Electronic Filing Form W-2 and Information Returns
	Withholding State Income Tax
Chapter 5: Unemployment Compensation Taxes
	Coverage Under FUTA and SUTA
	Unemployment Compensation Taxes and Credits
	Unemployment Compensation Reports Required of the Employer
Chapter 6: Analyzing and Journalizing Payroll
	The Payroll Register
	The Employee’s Earnings Record
	Recording the Gross Payroll and Withholdings
	Methods of Paying Wages and Salaries
	Recording Payroll Taxes
	Recording Workers’ Compensation Insurance Expense
	Recording the Deposit or Payment of Payroll Taxes
	Recording End-of-Period Adjustments
	Summary of Accounts Used in Recording PayrollTransactions
	Illustrative Case
Chapter 7: Payroll Project
	Books of Account and Payroll Records
	General Information
	Start of Payroll Project
	End-of-Year Activities
	Accounting Records and Reports
	Project Audit Tests
Appendix A: Excel Template Instructions for the Glo-Brite Payroll Project (Chapter 7: Short Version)
	I. Getting to Know Excel
	II. Excel Templates for Payroll Project’s Short Version
	III. Illustrative Case
	IV. Short Payroll Project
	V. End-of-Year Activities
	VI. Project Audit Tests
TAX TABLE A: TABLES FOR PERCENTAGE METHOD OF INCOME TAX WITHHOLDING
TAX TABLE B: WAGE BRACKET METHOD TABLES FOR INCOME TAX WITHHOLDING
CHECK FIGURES
GLOSSARY
INDEX
FEDERAL PAYROLL TAXES CALENDAR