Payroll Processing
Payroll processing is the administrative task of calculating and distributing employee salaries, wages, bonuses, and deductions, such as taxes, benefits, and retirement contributions. It involves tracking employee work hours, ensuring compliance with labor laws, calculating gross pay, and applying deductions for taxes, insurance, retirement plans, and other withholdings. Once the calculations are complete, payroll processing includes issuing payments to employees (either via check, direct deposit, or another method) and submitting the necessary payroll tax payments to government authorities. Payroll processing is a critical function for organizations to ensure accurate compensation and compliance with tax and labor regulations.
Table of Contents
Related Articles
Wage Deduction Authorization
Wage deduction authorization Wage deduction authorization is a written agreement or consent by an employee, allowing their employer to deduct certain amounts from their paycheck…
Workers’ Compensation
Workers’ Compensation Workers’ compensation is a type of insurance that provides financial and medical benefits to employees who are injured or become ill due to…
Workforce Management
Workforce Management Workforce management refers to the strategies, processes, and tools that organizations use to optimize the productivity and effectiveness of their employees. It includes…
Stay in the loop
Get all the latest Payroll, Scheduling, and Time Tracking tips for your deskless workforce.