Payroll Processing
Definition:
Payroll processing means compensating employees for their work after calculating earnings, withholding deductions, filing payroll taxes and any other payments.
Calculations are required to be made ahead of time in order to follow the organization’s pay schedule and to also ensure that it is in compliance with state regulations. Payroll processing, can therefore be complicated to conduct as it has so many factors involved, which include: terminations, employee classifications and pay scales.
Part of speech:
noun
Use in a sentence:
Processing payroll may take hours, depending on your number of employees and the tools you use.