How to: Generate a payslip in Excel

The above is an actual payslip on my computer, which has two additional worksheets, namely Salary Register and Computation of Salary Income. All the information that Is required to be shown in this form comes from one of these two worksheets. If you take a look at vbacoder1962 blogger April 2022 post, you will find that I have already talked about the Salary Register in quite some detail. However, the picture shared in that post has changed somewhat, to get rid of data redundancy (unnecessary duplication of similar details).

To generate the Payslip, however, for the larger part, only the Salary Register would be required. Once the details for all 12 months and the required investment details of the employee are fed into the salary sheet, the Computation of Salary Income comes into the picture in a bigger way.

Notice, however, that on the top right hand side there is actually a drop down box that allows you to select the month for which you want to view the Payslip. However, the 12 months of data for payslips are not the only things required to prepare the computation of Salary Income. If you are wanting to ask why that is so, then this post will not be explaining that, as it would be the subject matter of another post of mine.

Cheers !!

CA Vikram Shankar Mathur

14-Apr-2022 | 02:36 Hour IST 

 Payslip | Salary Register | Salary Computation

These are some screenshots of an excel workbook that I have created which I believe will be very useful to all employees who wish to keep track of their own salary and the income-tax that will be applicable to them, maybe in order to plan their investments etc. In the first screen you see below, you will see what is clearly a #SalaryRegister. You just have to fill the details that are available to you and then enter the forecasted income for the rest of the months to work our the income tax, for example.

In the following three screens you will find the salary computation with the resulting income-tax thereon,  also arrived at by a formula that works whatever your income level may be. As yet, it tackles only the old tax regime, because I wanted to keep it simple for demonstration purposes. Obviously it would not be a great deal to take into consideration the new regime as well.

Finally in the screen below, on the far right there is a drop-down box in which you can select the month for which you wish to see the payslip (and print it if you want, for any reason). The values fed into the salary register get automatically picked up in the payslip, using only formula's - amazing, is it not?

Note: The pictures shown in this blog are not the actual pictures of the package that may be received by the person viewing them, they are "representational images".  

Cheers !

CA Vikram Shankar Mathur

14-Apr-2022 01:27 Hours IST