Payroll Project
By: Sam

Missouri Association of Osteopathic Physicians and Surgeons

Has hourly and salary paid employees

When employees are paid hourly, they are trusted to keep track of their own time.

To qualify for overtime, hourly employees have to work 40 hours or more per week--this is paid in time-and-a-half (1.5 times normal hourly rate). Salary employees do not get paid overtime. Salary workers do not have the option of getting paid overtime.

A normal time card looks about like this one:

How employees are paid

Taxes, Healthcare, etc. are determined based on gross income for the month, and net pay is taken from a zero balance banking account and deposited electronically into the employee's bank account, or employees have the option of receiving a check. This account now has a negative balance, so money is paid out of a checking account into the zero balance account. The zero balance account starts the pay period at zero.

This is much like the book's procedure, except in the book the checking account would  pay into the zero balance account first. Then when the employee's are paid, the zero balance account returns to zero. The book also pays by check while MAOPS usually pays electronically hello class!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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