Excel Payroll Calculator Template Software

Excel Payroll Calculator Template Software is a forthright application intended for small companies, enabling accountants and financial managers to calculate payroll data and save the generated report as an Excel spreadsheet.

Thanks to its straightforward interface, the application shouldn't pose any difficulty at all, considering that your only task is to provide some details regarding the employee. Actually, the GUI is a simple form that you must complete in order to create the template.

The information you have to provide refers to the company name and the period to perform calculations for, the employee ID, name and hourly wage, along with the number of regular hours he or she worked, vacation time period or allowed sick leave, if any. In order to generate an accurate report, the application also takes into consideration overtime hours, which are normally paid at a higher rate.

Excel Payroll Calculator Template Software requires you to enter tax-related data for the selected employee. As such, you have to specify the tax status, the federal allowance, the state tax (in percentages), the social security tax and the medicare tax.

If your employee benefits from insurance deductions or any other types of regular deductions, than you should specify details about this as well.

Once the form is completed, you can start creating the template by pressing the designated button within the main window. Provided Excel is installed on your computer, the application displays a preview of the generated report, which comprises all the details you entered, along with the total amount of taxes and deductions, the gross and the net pay.

An application such as Excel Payroll Calculator Template Software can ease the work of financial managers, but it is not by far as complex as an accounting suite. Since its functionality is limited to calculating the payroll for a single employee, it is not suitable for larger companies.