Employee Payroll and Benefits
In This Chapter
Planning for your pay structure
Figuring net pay and collecting and depositing employee taxes
Keeping track of benefits
Preparing and recording payroll
Finding new ways to deal with payroll responsibilities
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 between 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.