Accounting All-in-One For Dummies, with Online Practice, 2nd Edition

Chapter 4

Processing Employee Payroll and Benefits

IN THIS CHAPTER

Hiring employees

Collecting and depositing employee taxes

Keeping track of benefits

Preparing and recording payroll

Unless your business has only one employee (you, the owner), you’ll most likely hire employees, and that means you’ll have to pay them, offer benefits, and manage a payroll.

Responsibilities for hiring and paying employees usually are shared among the human resources staff and the bookkeeping staff. As the bookkeeper, you must be sure that all government tax-related forms are completed and handle all payroll responsibilities including paying employees, collecting and paying employee taxes, collecting and managing employee benefit contributions, and paying benefit providers. This chapter examines the various employee staffing issues that bookkeepers need to be able to manage.

Staffing Your Business

After you decide that you want to hire employees for your business, you must be ready to deal with a lot of government paperwork. In addition to paperwork, you face many decisions about how employees will ...