CXC CSEC Principles of Accounts (POA) exam guide: Section 14: Payroll Accounting
CXC CSEC Principles of Accounts Exam Guide
Section 14: PAYROLL ACCOUNTING
The students should be able to:
|1.||Identify basic source documents of the payroll;||Use of time cards, time, electronic clock-in cards. Employee earnings records.
|2.||Transfer information from time cards or sheets to payroll;||Calculation of gross earnings (wages) from employee records.
|3.||Calculate employees' gross earnings;
|Preparation of payroll and wage documents from time cards, computer records.|
|4.||Calculate employees' net pay;
|Calculation of statutory deduction and non-statutory deductions, for example, income tax, social security and mortgage.|
|5.||Distinguish between voluntary and statutory deductions;||Statutory and non-statutory deductions.|
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