Tech Glossary
What is Payroll?
Payroll is a process in business finance that deals with managing and calculating employee salaries. It includes registering working hours, calculating taxes and benefits, and paying the wages to the employees. There are various programs and systems that can facilitate the handling of salary payments and tax calculations. Examples of popular Payroll systems are ADP, Gusto and QuickBooks Payroll. These systems help companies automate and streamline payroll processing, saving time and reducing the risk of incorrect payments. Using a Payroll system can be beneficial for companies of all sizes, as it can contribute to increased accuracy, efficiency and compliance with laws and regulations regarding payroll management. It is important to choose a system that fits the needs and size of the company in order to maximize the benefits of automated payroll processing.