Payroll Accounting 2019, 29th Edition

Description

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