The payroll process has changed much over the years, mainly in the manner in which it is processed. Most companies today prefer computer-based systems or outsourcing to process payroll . For a small company, manual processing may still be an option, although there are numerous cost effective ways to run it electronically. Use the following information to process payroll for your employees. 1. Gather employee wage information. Make sure it includes all wages, tips and compensation in the pay period. If your system is computer-based, you will be able to run a report. If manual, collect all time sheets and other documentation. 2. Check to ensure that you have W-4 information for each employee to determine their marital status and with holdings. This will determine their tax liability for Federal Income Tax. 3. Calculate employee's gross pay from employment agreement or time sheet. Include tips, commission and overtime, if applicable. Tax exempt dedu
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