Which of the following correctly lists activities of the Payroll Process in chronological order?
A)Time sheet submitted by employee, time sheet approved, paycheck signed by management, update General Ledger
B)Time sheet submitted by employee, paycheck signed by management, time sheet approved, update General Ledger
C)Time sheet submitted by employee, update General Ledger, paycheck signed by management, time sheet approved
D)Time sheet submitted by employee, update General Ledger, time sheet approved, paycheck signed by management

Question

Quizplus · Accepted Answer

The correct sequence for the payroll process is: Time sheet submitted by employee, time sheet approved (to verify hours worked), paycheck signed by management (after approval, to authorize payment), and then update General Ledger (to reflect the payroll expense). This ensures accurate and authorized payment to employees and proper accounting records.

Which of the Following Correctly Lists Activities of the Payroll