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The Town OnStar Valley Ranch, Wyoming TOWN MEETING DRAFTProposed Agenda May 9, 2023 7:00 PM1. Call to Order, Roll Call of Councilmen, Statement of Quorum 2. Pledge of Allegiance 3. Reconvene Regular

How to fill out accounts payable and payroll

How to fill out accounts payable and payroll

1. Accounts Payable:
2. - Gather all invoices and bills received from vendors
3. - Enter the invoice details into the accounting software
4. - Match the invoice to the purchase order and receiving report
5. - Review and approve the invoices for payment
6. - Process the payment to the vendors either by check, electronic payment or wire transfer
7. - Reconcile accounts payable ledger to ensure accuracy
8. Payroll:
9. - Collect timesheets or employee work hours
10. - Enter the hours worked by each employee into the payroll system
11. - Calculate gross wages including any overtime or bonuses
12. - Deduct taxes and other withholdings from employee paychecks
13. - Process the payroll for direct deposit or issue paper checks
14. - File payroll taxes and issue W-2 forms at the end of the year

Who needs accounts payable and payroll?

1. Small and large businesses that have employees and need to pay vendors for goods or services rendered.

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What is accounts payable and payroll?

Accounts payable is the amount a company owes to suppliers for goods or services purchased on credit. Payroll is the total amount a company pays to its employees for services they provided during a certain period of time.

Who is required to file accounts payable and payroll?

All businesses that have accounts payable and employees are required to file accounts payable and payroll.

How to fill out accounts payable and payroll?

Accounts payable is filled out by recording all invoices and payments to suppliers. Payroll is filled out by tracking hours worked and calculating wages for employees.

What is the purpose of accounts payable and payroll?

The purpose of accounts payable is to track and manage the money a company owes to suppliers. The purpose of payroll is to accurately compensate employees for their work.

What information must be reported on accounts payable and payroll?

Accounts payable must include invoices, payment dates, and amounts owed. Payroll must include employee hours worked, wages, and deductions.