A payroll calculator template is a professional document which is used for calculating the eligible payable salary amount to be paid to an employee. It helps employees to confirm actual deductions in their salary, since for them, it serves as an official statement of earnings. Being a useful tool, it is used for calculating the total amount of money which a company pays to those employees which are included on their payroll. A payroll calculator has great value in the accounting field because it helps to identify the amount which is referred to an employee for a specific time frame, usually a month. Generally, this document includes the company name, date and time, description of the company, different blocks for creating details about the amount as well the deductions, calculations and associated information, along with the signature of the authorized person.

Importance of Payroll Calculator:

A professional payroll calculator template is a widely used tool that calculates the net amount of salary. To do so, you will need to make all deductions using other accounts, like tax account, provident fund account, advance loan account and installment account. Moreover, a payroll calculator plays an important role in accounting or calculating the amount paid to the employees or labor for their work during the specific time period. Furthermore, if you wish to prepare a payroll calculator, then it is essential to use quality templates to create a professional payroll calculator template.