Payroll

bi monthly basis payment date

cut-off period 15-30 7-22 1st cut off Release date
5-20 April 23-May 7 May-15
10-25 May 8-22 May-31

Who computes payroll?

HR department
>> payroll processor

1 Attendance
2 Payroll processing

Gross salary xx
Less: Deductions xx
Net take home pay xx

Mandatory/Statutory benefits
1 SSS benefits Benefits xx
2 Philhealth benefits Expenses Premium contributions payablexx
3 Pag-ibig benefits of ER

Remittances to gov't agencies

> remit both ER and EE share

what composed total premium payables?

> ER and EE share
Payroll Register EFPS
Pay Date: 4/30/2024
Pay Coverage: 04/08/2024 - 04/22/2024
EMPLOYEE INFO INFO STATUTORY DEDUCTIONS TOTAL EMPLOYER CONTRIBUTIONS

Employee Code Gross pay HDMFEE PHICEE SSSEE SSSEE WTAX Gross Deductions Net Pay HDMFER PHICER SSSEC SSSER SSSER
(WISP) (WISP)
003000101 17,000.00 200.00 425.00 765.00 - - 8,500.00 1,390.00 7,110.00 200.00 425.00 30.00 1,615.00 - 850.00 425.00
003000099 16,000.00 200.00 400.00 720.00 - - 8,000.00 1,320.00 6,680.00 200.00 400.00 30.00 1,520.00 -
003000095 28,547.75 200.00 713.69 900.00 382.50 240.21 15,343.77 2,436.40 12,907.37 200.00 713.70 30.00 1,900.00 807.50
003000096 18,747.71 200.00 468.69 832.50 - - 9,328.94 1,501.19 7,827.75 200.00 468.70 30.00 1,757.50 -
003000106 27,300.17 200.00 682.50 900.00 337.50 166.96 13,650.09 2,286.96 11,363.13 200.00 682.51 30.00 1,900.00 712.50
003000102 14,007.00 200.00 350.17 630.00 - - 8,077.52 1,180.17 6,897.35 200.00 350.18 10.00 1,330.00 -
003000014 15,407.70 200.00 385.19 697.50 - - 8,294.56 1,282.69 7,011.87 200.00 385.20 30.00 1,472.50 -
003000098 19,500.13 200.00 487.50 877.50 - - 11,245.29 1,565.00 9,680.29 200.00 487.51 30.00 1,852.50 -
003000105 18,000.00 200.00 450.00 810.00 - - 10,380.19 1,460.00 8,920.19 200.00 450.00 30.00 1,710.00 -
003000051 15,407.70 200.00 385.19 697.50 - - 8,885.27 1,282.69 7,602.58 200.00 385.20 30.00 1,472.50 -
003000100 42,000.00 200.00 1,050.00 900.00 450.00 1,928.19 24,220.45 4,528.19 19,692.26 200.00 1,050.00 30.00 1,900.00 950.00
003000104 22,493.48 200.00 562.33 900.00 112.50 - 12,026.47 1,774.83 10,251.64 200.00 562.34 30.00 1,900.00 237.50
003000094 83,136.61 200.00 2,078.41 900.00 450.00 5,369.30 42,484.99 8,997.71 33,487.28 200.00 2,078.42 30.00 1,900.00 950.00
003000087 92,781.68 200.00 2,319.54 900.00 450.00 7,457.06 51,077.13 11,326.60 39,750.53 200.00 2,319.54 30.00 1,900.00 950.00
14 430,329.93 2,800.00 10,758.21 11,430.00 2,182.50 15,161.72 231,514.67 42,332.43 189,182.24 2,800.00 10,758.30 400.00 24,130.00 4,607.50
Checking or current account checkbook Deposit slip Earns interest
Savings account no checkbook Deposit slip Earns interest

Bank transfer Maker

Verifier
Approver
Petty Cash fund funds used for petty expenses
current assets

How to establish petty cash?

- by issuing a check to the petty cash custodian

Pro-forma JE in establishing PCF

Petty cash fund xx
Cash in Bank xx

2 systems in petty cash

1 Imprest fund system maintained at fix amount, unless there is an increase/dec
May-15
Petty cash fund 10,000
Cash in Bank 10,000
May-16 PCV 0001 payment for gasoline 500
- evidence/ supported by petty cash voucher
May-17 PCV0002 payment for office supplies 1,000

upon replenishment of PCF

Expenses 6,500
Cash in Bank 6,500
2 Fluctuating fund system
May-15
Petty cash fund 10,000
Cash in Bank 10,000
May-16 PCV 0001 payment for gasoline 500
- evidence/ supported by petty cash voucher
May-17 PCV0002 payment for office supplies 1,000

upon replenishment
Petty cash 1500
Cash in bank 1500
there is an increase/decrease in the fund

No JE
ash voucher

Gasoline 500
Petty cash 500

Office supp 1,000.00

Petty cash 1,000.00
 Bank reonciliation ###

Reconciling items
Book reconciling items Bank reconciling items ###
- Debit Memo bank charges Deposit in transit +
+ Credit Memo interest Outstanding checks -
+/- Book errors Bank Errors +/-

3 methods in preparation of Bank reconciliation

1 Adjusted balance method
2 Book to bank balance method
3 Bank to book balance method
 ESN Bluebox Corporation
BANK RECONCILIATION
China Bank
Apr-24

Unadjusted Balance
Debit Memo

Credit Memo
Bank interest net of tax

Deposit in transit

Outstanding checks
PCF Replenishment Pagataan: April 22-30, 2024 (2nd)
04/30/2024 CV00115 Roniel M. Neri P23,594.83
PCF Replenishment for FDA: ESN BLUEBOX CORP. - FDA &
Landbank (Product Notification & Bank Charges) 70 variants
04/30/2024 CV00112 Roniel M. Neri period of April 19 to 29, 2024
Backload / Pull out FS Stocks & F21 Module only (From W.
04/30/2024 CV00116 FAST LOGISTICS CORPORATION Davao Ecoland to Malabon) - April 29, 2024
PCF Replenishment CELIA: April 22-27, 2024 (1st
04/30/2024 CV00113 Roniel M. Neri Php6,265.57)
Lequidation for F21 Business travel/store visit of Ms. Irene
Cabase [Watson CDO & RDS Centrio period of April 23-25,
04/30/2024 CV00114 2024]

Book Errors
Unrecorded disbursements
CV0083

Adjusted Balances

Prepared by:

MARJUN C.BABA,CPA,MBA,CMA
ACCTG CONSULTANT
ration
TION

Bank to Book method

Per Book Per Bank Per Bank

1,155,798.88 1,176,163.09 1,176,163.09

59.99 59.99 (59.99)

23,594.82

21,068.00

9,812.83
6,265.57

5,915.00 (66,656.22)
(66,656.22)

46352 (46,352.00)

1,109,506.87 1,109,506.87 1,109,446.88

1,109,446.88 -

Approved by:

EDMON NGO
CEO
Book to Bank

Per book
1,109,446.88

59.99

66,656.22

1,176,163.09
1,176,163.09
 DEDUCTIONS

Employees Gross SSS PHIC HDMF W/tax

Salvador 14,000 630 350 200 -
Dalisay 30,000 1350 750 200 1,030
Robles 35,000 1350 875 200 1,761
79,000 3,330 1,975 600 2,791

Dalisy Salaries and wages

Taxable income 27,700 W/tax payable on compensation
NT 20,833 SSS premium payable
Excess 6,867 PHIC premium payable
Tax due 1,030 HDMF premium payable
Advances to employees
Robles Cash in Bank
TI 32,575 To record payroll for the month of
NT 20833
Taxable 11,742
Tax due 1761.3

Problem 2
1 Petty cash fund 500
Cash in Bank 500

2 Travel and transpo 150

Office supplies 133
Postage and communication 124
Cash in Bank 407

Petty cash fund 500

Cash in Bank 500

Problem 3

Per Book Per Bank

Unadjusted balances 12,200 22,650

Debit Memo
Bank service charge (50)

Credit Memo

Deposit in transit

Outstanding checks
CHK#367552 (2,500)
CHK#367556 (8,000)

Adjusted balances 12,150 12,150

 Employer contributions
Take Home
Cash Advance Total Pay SSS PHIC HDMF
300 1,480 12,520 1340 350 200
500 3,830 26,170 2880 750 200
800 4,986 30,014 2880 875 200
1,600 10,296 68,704 7,100 1,975 600

Salaries and wages 79,000 SSS contribution 7,100

W/tax payable on compensation 2,791 PHIC contribution 1,975
SSS premium payable 3,330 HDMF contribution 600
PHIC premium payable 1,975 SSS premium payable 7,100
HDMF premium payable 600 PHIC premium payable 1,975
Advances to employees 1,600 HDMF premium payable 600
Cash in Bank 68,704 To record ER share in the benefits of employees
To record payroll for the month of April 2024

SSS premium payable 10,430

PHIC premium payable 3,950
HDMF premium payable 1,200
W/tax payable on compens 2,791
Cash in Bank 18,371
its of employees