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Payroll Function - Coggle Diagram
Payroll Function
Accounts affected
Statement of Comprehensive Income
Gross salaries
Wages
Commissions
Bonuses
Manufacturing wages
Directors’ emoluments
Employer contributions
Statement of Financial Position
Employees for remuneration accrued;
Accounts payable
Accounts payable
Various bank accounts
timekeeping function;
Documentation
Blank clock cards
Hours recorded on clock
Batch control sheet and batch register.
payroll preparation function
Documentation
Clock cards;
Payroll (wage journal);
Updated list of employees;
Week to week reconciliation
payment preparation and pay-out function
Documentation
Authorised payroll;
Payroll
Payslips
Pay-packets
Unclaimed wages register
human resources (HR) function;
deductions: payments and recording function.