What is Payroll?

Accounting.
Payroll in the sense of “money paid to employees” plays a major role in a company for several reasons.

From an accounting perspective, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and because they are subject to laws and regulations.

From a human resources viewpoint, the payroll department is critical because employees are sensitive to payroll errors and irregularities: Good employee morale requires payroll to be paid timely and accurately.

The primary mission of the payroll department is to ensure that all employees are paid accurately and timely with the correct with holdings and deductions, and that the with holdings and deductions are remitted in a timely manner. This includes salary payments, tax with holdings, and deductions from paychecks.

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