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The payroll module automates the pay process by gathering data on employee time and attendance, calculating various deductions and taxes, and generating periodic pay cheques and employee tax reports. Data is generally fed from human resources and timekeeping modules to calculate automatic deposit and manual cheque writing capabilities.
Handling payroll typically involves sending out payslips to employees.. A payroll is a list of employees of a company who are entitled to receive compensation as well as other work benefits, as well as the amounts that each should obtain. [1]
Calculation resources. Brian K. Boonstra: Model For Pricing ESOs (Excel spreadsheet and VBA code) Joseph A. D’Urso: Valuing Employee Stock Options (Excel spreadsheet)
Statistics: Specifies whether the product supports calculation and presentation of various statistics on a specific field (e.g., for the values of a numeric field such as a total number of positive numbers, total number negative numbers, average value (balance), etc.)
It is an example of the second type of payroll tax, but unlike in other jurisdictions, it is paid directly by employees rather than employers. Unlike the first type of payroll tax as it is applied in Canada, though, there is no basic personal exemption below which employees are not required to pay the tax. [8]
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