How to Calculate Percent Tax in a Payroll in Excel. As a business owner, it is your responsibility to compute the paychecks for your employees and make sure the IRS receives the prescribed payroll ...

Using formulas in Microsoft Excel is a reliable method to calculate payroll for your business. Microsoft Excel contains over 300 built-in formulas to aid in the production of a functional worksheet.

By automating data updates, streamlining calculations, and focusing on significant variances, you can dramatically improve the efficiency and effectiveness of your payroll analysis process.

Excel's PERCENTOF function returns the percentage that a subset of data contributes to a whole dataset, saving you from having to create additional or complex formulas to generate the same outcome.