What is the main purpose of payroll system?

Essentially, payroll is the process by which an employer pays an employee for the work he or she has performed for the company. There is a need for any business which has employees to implement a payroll management process. The ability to manage payroll efficiently and effectively ensures that employees are paid accurately and consistently and gives the human resource department the chance to focus on more important aspects of their job. Although the payroll process appears to be simple at its core, it becomes more complex as there are a number of deductions that need to be taken into […]

How Payroll Processing Works & Its Three Stages

During payroll processing, necessary taxes and deductions are adjusted in order to arrive at the employees’ net pay. It is imperative that the payroll administrator plans out the payroll process step-by-step in order to ensure that the process is efficient. The payroll process is a complex one that encompasses much more than just salary calculations. This handy guide is designed to guide you through the intricacies of payroll processing.  How does Payroll Processing work? The payroll process consists of adjusting taxes and deductions to arrive at the ‘net pay’ of the employees. Creating a step-by-step payroll management process is essential […]