A Payroll is the sum total of all compensation a business must pay to its employees for a set period of time or on a given date.
It also refers to the list of employees of a business and the amount of compensation due to each of them.
A Payroll can differ from one pay period to another because of overtime, sick pay and other variables. There are three options to run payroll:
- Manual Payroll (payroll by hand)
- Payroll accountant
- Payroll software
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