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DIRECT DEPOSIT AUTHORIZATION MARICOPA COUNTY SCHOOL SUPERINTENDENT OSBORN ELEMENTARY SCHOOL DISTRICT # 8 ___ Name (Please Print) ___ Last 4 digits of Social ___ Circle One:START Surname of Financial
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How to fill out payroll and accounts payable
How to fill out payroll and accounts payable
01
Gather all necessary employee information such as hours worked, wages, and deductions.
02
Calculate gross wages for each employee based on the hours worked and their hourly rate.
03
Deduct any applicable taxes, retirement contributions, and other deductions from the gross wages to determine the net pay.
04
Generate pay stubs for each employee detailing their gross wages, deductions, and net pay.
05
Update the accounting software with the payroll information and create journal entries to record the transactions.
Who needs payroll and accounts payable?
01
Businesses of all sizes that have employees and need to pay them on a regular basis.
02
Organizations that need to keep track of their expenses and payments to suppliers and vendors.
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What is payroll and accounts payable?
Payroll refers to the process of paying employees, while accounts payable refers to the money a company owes to its suppliers or vendors.
Who is required to file payroll and accounts payable?
Businesses that have employees are required to file payroll, while businesses that have invoices from suppliers or vendors are required to file accounts payable.
How to fill out payroll and accounts payable?
Payroll can be filled out by calculating employee wages, deductions, and taxes, while accounts payable can be filled out by recording and paying invoices from suppliers or vendors.
What is the purpose of payroll and accounts payable?
The purpose of payroll is to ensure employees are paid accurately and on time, while the purpose of accounts payable is to manage and track the money owed to suppliers or vendors.
What information must be reported on payroll and accounts payable?
Payroll information includes employee wages, taxes, and deductions, while accounts payable information includes supplier or vendor invoices, payment terms, and amounts owed.
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