What is payroll, and why is it important for an organization/business?
submitted by aphiwe

Wehl Then

Payroll is the list of people who get paid to work at a company. It's important because people don't like to work for free. Get your payroll done and keep your employees happy and productive.

Milly Wakee

Payroll is the process of calculating and paying employees' paychecks. It's important because it ensures staff are paid accurately and on time. It helps you keep track of taxes as well.

alittlebit

Payroll is the amount a company pays to its employees. This includes hourly wages, salaries, commissions, bonuses, and deductions.

I'd say it's crucial because it directly affects employee satisfaction Also helps with legal compliance.

mustbehomeworktime

Payroll is the way you manage employee compensation, whether that's wages, taxes, or other benefits.

Proper payroll management helps you avoid legal penalties. It keeps your employees motivated.

tobefair

From an accounting standpoint, payroll is the gross wages expense on the company's income statement. You need it to calculate net income, since that amount needs to be subtracted from gross income to get an accurate picture of profitability.

razmatazz

In simple terms, payroll is how a business pays its workers. Without payroll, ain't nobody working. That's why it's important, but it's also essential for complying with tax laws.