Payroll is the total amount of wages paid by a company to its employees and other workers (freelancers and contractors).
Payroll processing is an important function for any business—no matter how small. It’s likely your company’s largest expense, and the most time-consuming HR work performed each month. Payroll can be processed weekly, biweekly, semi-monthly, or monthly, while the most common pay length period is every two weeks.
While the process varies from company to company, payroll is indisputably complicated. It requires an organised system, knowledge of current regulations and taxes, and careful planning.