How to read a payroll and know that it is okay

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There are many employees worldwide who have doubts when reading your payroll fundamentalmente las persons que dudan de que los pagos se estén realizando correctamente. Para estar seguro de que verdaderamente te están pagando la cantidad que la compañía debería darte y al mismo tiempo de que el resto de datos be correcto, es esencial que learn to read payroll and know what each of the data it contains corresponds to.

Most people see their payroll as the amount of money to be collected from month to month and to be deposited into the account; Despite that, payroll should look like the total calculation of the things to load and so we are going to show you how to read it.

What precisely is payroll?

The payroll is what is understood as the mandatory document that the company must deliver to the worker at all times and in which the data of the company and the work that said worker is performing must appear. Some extra data that should be included are the period of work that the person has been in the company or the economic amounts that will be given to the worker for each of the things they do within the company.

In this post, we will teach him to read his entire payroll and also to calculate how quantities are obtained what month to month you receive in your bank account.

First data we find in the payroll

Lo primero que encontramos en la nómina son los datos de ambas partes, dicho de otra forma, por una parte, los datos de la compañía y por otra parte, los datos del trabajador. En los datos de la compañía debe figurar el nombre legal de dicha compañía, el domain social y el CIF. Además debería aparecer el código de cotización SS.

On the other hand, your data will appear, which must include the name and ID of the worker. At the same time, the SS quote and the professional category of the person who works in the company should be included. The type of contract you have and how long you have been with the company.
These data do not regularly vary and serve to identify both parties.

Another thing we should pay attention to is that Payroll is an invoice issued by the company. to record that we have been paid month by month. As an invoice, there are some points that should also always be included in it, even though these may vary from one month to another.

The current account of the person who pays and the person who is going to receive the payment is also common to appear at the beginning of this type of contract or any other information that both have agreed that should appear on the payroll.

In the second part of payroll we will comply with accruals. This is an option that must be stated by law at all times, the accruals are those that must be counted as income that we are going to receive from the company as workers. Here must count salary and non-salary accruals.

Salary accruals

For this case, the wage accruals are amounts that are given to the worker to pay compensation for their work in the company and those that are not salary that are those that refer to goods to goods and services.

These things are what are paid for in meal tickets or any other payment such as transportation.

Salary accruals are as follows

Base salary

Base salary is one of the things we know and find at the top of accruals. Here some payrolls specify the gross amount in euros per year, for example if we have a gross amount of euros per year of 12,000 euros, the amount that we will receive per month is 1,000 euros.

Salary supplements

With regard to salary supplements, this affects the different things that the professional can contribute to the company, for example knowledge or languages or basically the fact of having more responsibilities over him.

The increases also count for specialized employees at any of the company's points. These people usually have an increase in their payroll of 10,000 euros per year and are distributed in the twelve monthly payments + 2 extra payments.

Not all payrolls have this section since many companies pay this data separately without being added to their payroll, but the companies that do have all their established data add overtime to their payroll and this is reflected in the hours section Additional features. These hours must be paid either voluntary or mandatory in each company as long as our contract does not appear to the contrary. Regularly, each of the overtime hours that are performed must be paid at 25 euros.

Salaries in kind.

This part is part of their salary but it is a bit complicated to stipulate what is the amount of money that can be given in kind, since they are extra goods and services that the person receives. This also depends on the worker who can say that he wants nothing more than money for his work.

Gasoline expenses or transportation payments are also included in this option.

Non-salary accruals

Compensation or supplies

These two payments are those made in respect of allowances or hours in which the worker had to eat outside of work or make an expense within his work salary.

The Compensation & Benefits What does social security give you?

This refers to any type of transportation, transfer or suspension for some type of dismissal.

In the event that there is a temporary disability or temporary unemployment in this option, the agreed amount must arrive.

The last non-salary accruals do not enter the social security contribution and do not count when deducting personal income tax.

Deductions from personal income tax

Just below, we find the part of the deductions in which are the things that are going to be deducted from the monthly payroll. These amounts are those that are contributed to the personal income tax and the SS.

Personal income tax is different for each of the employees, so we must know what this amount means and fundamentally where we can find it within our payroll.

This amount is the one that will have to be entered in the income statement. If we have a very low personal income tax, the normal thing is that we have to pay more to the Treasury when the return is due. In spite of everything, when it is high, it is normal for you to give it to us to return it.

The sections that the SS makes us

Common contingencies. This is calculated with the 4.7% of salary accruals, despite everything, overtime will not be taken into account here.

Unemployment

This option is accounted for depending on the contract that the person has. In the case of employees who have a general contract, the amount that is counted is up to 1,55%, despite everything, for people who have a full or part-time contract, it will be 1,60%.

For each overtime that is performed, the amount must be subtracted from 2%. All overtime hours will have a low retention that in case the people and the company agree, could be extended by hours.

Some payrolls have concepts in advance or any other deduction.

Total liquid to receive

Here we will see the total amount that we must receive from the company with the accruals and deductions that each point gives us.

This is what we call Net income, what remains after doing the deductions from gross wages.

The amount that appears here is what we will find in our bank account at the end of the month.

These are the steps in which the payroll must be placed and this is how you should read them. Most people only read the total to receive option, without stopping to review the rest of the amounts to see if it really is the amount they are spending on your payroll, the amount you really should receive.

Now that you know the amounts you really should know, check your payroll and see if the amounts really match and you are being paid what you really should be getting based on all the accruals and deductions you have.

It is unlikely that the amount will vary from month to month, so you charge the same amount month after month, despite everything, it is likely that if it changes from year to year.