• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
The Big Book Project

The Big Book Project

Agribusiness Training & Startup Tools

  • About
  • Join
  • eBooks
  • Courses
  • Beginner's Guide to Poultry Farming
    Hit Broiler Growth Targets
    Brooding Best Practice

    Discover the secrets to broiler growth by spending some time on the brooder floor with Dr. Scott Gillingham, Poultry Veterinarian.

    Accurate Egg Estimates
    Calculate Egg Production

    Factor in the right production dependencies for your egg farm to get at accurate estimates. Don't over or undershoot, use this method.

    Forecast Your Feed
    How Many Bags?

    A simple formula for calculating exactly how much feed your flocks will consume. This tells you the actual number of bags needed - handy.

Payroll Statement

January 26, 2021 by Temi Cole

...This was an article preview...

This Article Is For
Paying Subscribers Only

Want to access ALL areas? Sign-up below...

Join 8,861 Subscribers...

“…consists of very useful tips for anyone who is planning to start a project…easy to follow.”

– Dr Bonile Jack-Pama, PhD

Get The #1 Poultry Farming Newsletter

The most in-depth guide to poultry farming anywhere, right now.

“…marvelous and electrifying content. It answers most of the questions I have been looking out for. Thanks a lot.”

– Kwasi Jones

Receive all the 'insider tips' they never speak about to help you:

  • ✔️ Write a plan that actually gets investment
  • ✔️ Decide if poultry will be profitable for you
  • ✔️ Avoid pitfalls like mortality with key procedures
  • ✔️ Understand the hidden benefits of production models

Click button below to subscribe...

You may also be interested in:
« Break Even
« Account Management Balanced Scorecard

Filed Under: Templates

« Previous Post
Next Post »

Primary Sidebar

What is a payroll statement?

A payroll statement is a bookkeeping document detailing the total labour expenses of an organisation or company. It highlights each labour resource, whether employee or contractor, for example, and outlines their overall expense to the business and compensation. As with all statements, the payroll statement is a snapshot. Giving a summary related to a specified window of time.

There are 24 sections of a payroll statement.

  1. Employee ID: unique identifier for each employee. A way of tracking every element of payroll expense to individual labour resources within the business. A highly auditable, traceable record.
  2. Name: the full name of the employee or labour resource.
  3. Hourly wage: the amount of money that the named person is contracted to receive per hour or work, pro-rata.
  4. Regular hours worked: within the time period concerning this statement, the number of hours the person worked in total.
  5. Holiday hours: the number of hours granted as holiday to the employee during the period of the statement.
  6. Sick hours: the number of permitted sick leave hours used up by the employee within the period.
  7. Overtime rate: the amount of money the employee is paid per hour for work that qualifies as ‘overtime’.
  8.  Overtime hours: number of hours worked by the employee as overtime.
  9. Gross pay: the amount of money earned by the employee during the reporting period, gross of any deductions due.
  10. Student loan (%): the percentage of gross pay that is deducted for student loan repayments.
  11. Income tax (%): the percentage of gross pay that is deducted for income tax liability.
  12. National Insurance (%): the percentage of gross pay that is deducted for national insurance contributions, or other state-provided insurance packages.
  13. Medical Insurance (%): the percentage of gross pay that is deducted for medical or dental insurance contributions.
  14. Pension deductions: the amount of money deducted from the gross pay for pension contributions.
  15. Other deductions: the amount of money deducted from the gross pay for any other deductions (miscellaneous).
  16. Tax and deductions: the total amount of money to be paid, within the reporting period, by the employee as tax liability and deductions combined.
  17. Net pay: gross pay minus tax and deduction is the employee’s net pay. This is what they take home with them as earnings.
  18. Total regular worked hours: the total number of hours worked by all employees within the reporting period.
  19. Total holiday hours: the total number of hours taken by employees as paid holiday time within the reporting period.
  20. Total sick hours: the total number of hours claimed by all employees within the reporting period as paid sick leave.
  21. Total overtime hours: the total number of hours worked by all employees within the reporting period that qualifies as overtime.
  22. Total gross pay: the total amount of money received by all employees as gross pay within the reporting period.
  23. Total taxes and deduction: the total amount of money to be paid out by all employees for tax and other deductions during the reporting period.
  24. Total net pay: the total amount of money your business will pay out directly to employees as take-home pay during the reporting period.

Copyright © 2022


Next-level agribusiness training &
startup tools.

Learn


Poultry Learning Center
Knowledgebase
Blog
Poultry Project Reporter 2.0

Company


Start
About
Contact
Subscribe
Purchases
eLogin

Connect


LinkedIn
Twitter
Pinterest


Log in

Join 8,861 Subscribers…

“…consists of very useful tips for anyone who is planning to start a project…easy to follow.”

– Dr Bonile Jack-Pama, PhD

Get The #1 Poultry Farming Newsletter

The most in-depth guide to poultry farming anywhere, right now.

“…marvelous and electrifying content. It answers most of the questions I have been looking out for. Thanks a lot.”

– Kwasi Jones

Receive all the ‘insider tips’ they never speak about to help you:

  • ✔️ Write a plan that actually gets investment
  • ✔️ Decide if poultry will be profitable for you
  • ✔️ Avoid pitfalls like mortality with key procedures
  • ✔️ Understand the hidden benefits of production models

Type in your email below…

This field is for validation purposes and should be left unchanged.