Pay Register

Pay register or payroll register is a full-fledged report or summary which gives a detailed view of employee payroll for a specific pay period. Payroll data is generally represented by employee names, identification numbers, hours worked, wages earned, taxes withheld, deductions, net pay, and other relevant payroll data. Payroll registers hold the key to payroll processing, accounting, and compliance, ensuring that organizations are able to keep track of and properly document their payroll expenses.

Example of Pay Register

In a sizable corporation with hundreds of workers, the payroll generates a pay sheet bi-weekly that contains payroll information for each period. The payroll register is then compiled using data from a number of sources, such as time and attendance systems, employee records, and tax withholding forms. Each employee's name, ID number, department, and position are listed on the timecard alongside their hours worked, hourly rates, and total wages. In addition, it will contain various deductions like federal income tax, state income tax, Social Security, Medicare, retirement contributions, and voluntary contributions to health insurance and retirement savings plans. When the payroll is registered, the payroll team verifies if the data is correct and reconciles it with the in house records and external reports. In the reconciliation process, the identified differences or mistakes, if any, are quickly investigated and corrected so that the integrity of the payroll data is maintained.