The Payroll Check form is a document used by employers to disburse wages to their employees. It details the amount earned, any deductions, and the net pay that the employee will receive. Understanding this form is essential for both employers and employees to ensure accurate payment and record-keeping.
EMPLOYEE PAYCHECK, PAYCHECK STUB, AND BANK DEPOSIT SLIP EXAMPLE
To be used with Personal Finance / Task 6: Elements of Your Paycheck and Paycheck Stub, and Depositing Your Paycheck into Your Bank Account
EXAMPLE OF A PAYROLL CHECK AND PAYROLL CHECK STUB
ABC VE Firm
Check #:
123
Payroll Account
Date: November 1, 20XX
Pay to the order of
Ima Student
$1,403.56
One-thousand, four-hundred, three dollars and 56/100 Dollars ————————————————————————-
Memo: PPE October 31, 20XX
Cash Isking
Chief Financial Officer
Detach check above before depositing and save checkstub below for your records.
ABC VE FIRM
Employee: Ima Student
Pay Period: October 16 - 31, 20XX
Current
YTD
Gross Earnings
$1,680.00
$18,480.00
Deductions:
Federal Income Tax
$141.38
Social Security (FICA)
70.56
Medicare
24.36
State (CA) Income Tax
23.34
State Disability Insurance (SDI)
16.80
$276.44
$3,040.84
Net Pay
$15,439.16
BACK OF PAYCHECK
ENDORSE HERE
Recipient’s signature
DO NOT WRITE, STAMP OR SIGN BELOW THIS LINE
List amount of each item that
is being depositing. Checks
BANK DEPOSIT SLIP
are entered separately; do
not combine.
Customer’s name
DEPOSIT SLIP
dollars
cents
Customer’s account #
NAME
CASH
.
Current date
ACCOUNT #
CHECKS
DATE
Customer’s Signature
SIGNATURE:
Sum of items to
Subtotal
be deposited
Less Cash
Cash that you
want back
TOTAL
Total amount being deposited into your account
Understanding payroll check forms is crucial for both employers and employees. However, several misconceptions often arise regarding their use and function. Here are four common misunderstandings:
Being aware of these misconceptions can help individuals better understand the payroll process and make informed decisions regarding their compensation methods.
Here are some important points to keep in mind when filling out and using the Payroll Check form:
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