Purpose
This sheet helps you calculate monthly payroll for your employees and automatically prepare the Journal Voucher (JV) for accounting records.
1. What You Need to Fill In
You are only required to fill the following cells:
A. Fixed Monthly Income
Column | Description |
Basic Salary | Enter each employee’s fixed monthly salary. |
Allowances | Enter monthly allowances (e.g., transport, housing, etc.). |
B. Variable Income
Column | Description |
Overtime | Enter overtime or any additional variable income (if applicable). |
C. Variable Deductibles
Column | Description |
Other | Enter other deductions (if any) such as salary advances, unpaid leaves, or penalties. |
2. What the Sheet Calculates Automatically
All other cells are auto-calculated — do not edit them manually.
These include:
Total Salary
Income Tax (from the tax calculation sheet)
Social Security Employee Share
National Contribution (if applicable)
Total Deductions
Net Monthly Salary (Net Pay)
JV Totals and Entries
3. Journal Voucher (JV) Recording
After filling the payroll sheet, the JV section below is automatically ready for posting in your accounting system.
Debit Entries
Account | Description | Source |
Payroll – Salary & Wages | Basic Salary, Allowances, Overtime | Payroll Sheet |
Payroll – Social Security | Employer’s share | Social Security Sheet |
Credit Entries
Account | Description | Source |
Personnel Payroll Dues | Total Net Salaries Payable | Payroll Sheet |
Social Security Corporation | Employee + Employer Shares | Social Security Sheet |
Employee Income Tax | Tax Withheld | Tax Calculation Sheet |
National Contribution | Government share (if applicable) | Tax Calculation Sheet |
Other Deductions | Salary advance or other deduction | Payroll Sheet |
4. Important Notes
Employee Account Option
You can replace “Personnel Payroll Dues” with individual employee accounts if you want to track each balance separately.Other Deductions Handling
If the deduction reduces salary (e.g., absence penalty), credit Payroll – Salary & Wages.
If the deduction is an advance or loan, credit the Employee Account.
✅ Summary
Fill: Basic Salary, Allowances, Overtime, and Other Deductions.
Review: The sheet auto-calculates all totals.
Post: Use the JV Transaction to record payroll in your account.
Attchments