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In this video, the creator shows how to create an annual payroll and holiday calendar using Microsoft Excel. The calendar will display pay dates, company-paid holidays, and special events for new hires and employees. A template for this calendar is available for purchase, with links provided in the description. The video demonstrates both a static and a dynamic version, which includes automatic conditional formatting. This formatting will highlight pay dates and holidays based on the bi-weekly payroll schedule provided. Viewers can customize the calendar according to their specific payroll timelines.