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this excel template provides a quick and easy way to keep track of your company payroll pay rate benefits deductions and tax filing status can be entered for every employee and work hours are used to automatically calculate wages and tax withholdings in addition to record keeping the workbook also provides a dashboard to summarize how job hours have been used in the current pay period in order to begin using the payroll template select the setup tab at the bottom of the workbook this sheet is where you can enter the workbook pay period and choose the tax rates youd like to be used in payroll calculations if youd like to change the tax filing status options you can either replace an existing filing status or type in the next blank row to add a new entry to the table after personalizing these options select the employee info tab at the bottom of the workbook this sheet is where you can enter wage tax and benefit information for each of your companys empl