Employee salary calculation sheet is an MS Excel worksheet that is used to calculate employee’s monthly salary based on given information. The sheet is also called a payroll calculator.
What is a payroll calculator?
A payroll calculator is a simple tool that people use when they have to calculate the payroll of the month. The payroll calculator calculates the salary on the basis of the information provided to it. This calculator itself collects information as input and then gives the output. It should be remembered that a payroll calculator is used by the employers of the organization when they have to calculate how much they are required to pay to their employees. However, employees also use this tool for corroborating that the payroll they deserve has been calculated accurately.
Why is the payroll calculator important?
Management of the payroll becomes complicated at times. Business owners and managers often have to perform the management of the payroll with care. When the employer cannot do this on his own, he hires accountants and other financial experts who assist him in generating the payroll of each employee. Some people also use different tools just to automate the process of generating payroll. The payroll calculator is one of the best tools that can be used by them.
Calculating salary using payroll calculator
Payroll calculation is not a tedious task. However, as the organization grows in size, the number of employees working in it also increases. The calculation of the payroll of the huge staff becomes difficult and tedious.
People are given the task to calculate the payroll of a lot of people start seeking an automated way in which they can calculate the payroll of so many people. This helps them get away from the hassle of creating the payroll of each employee individually. For such people, a payroll calculator becomes a must.
Whether you want to calculate the payroll of a weekly or a monthly period you can use the payroll calculator.
What are the benefits of using the payroll calculator
- A payroll calculator is a great tool to be used when you want to use it for a time-saving purpose. Since this calculator automates the process of calculation, it becomes a quick and easy way to generate the payroll
- This calculator has pre-defined formulas that ensure that the user gets the accurate results whenever he tries to calculate the payroll.
- There is very little possibility for the payroll calculator to give inaccurate results or results with an error. So, any person using the payroll can rely on this calculator for results
Payroll calculator template
A payroll calculator template is a great tool to be used since it stores the information provided by the user and also organizes it. The calculator provided by the template has the potential to calculate the payroll of people with just a click.
There are three columns in this calculator which calculate the information
- Details of the employee
- Total pay of the employee
- Amount of deductions from the pay
The user can also include the details of his choice by customizing the template and making it more useful for him.