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In a company, payroll is the sum of all financial records of salaries for an employee, wages bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. Payroll plays a major role in a company for several reasons. From an accounting perspective, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and they are subject to laws and regulations (e.g. in the US payroll is subject to federal and state regulations). From an ethics in business viewpoint, payroll is a critical department, as employees are responsive to payroll errors and irregularities. Good employee morale requires payroll to be paid timely and accurately. The primary mission of the payroll department is to ensure that all employees are paid accurately and timely with the correct withholdings and deductions, and to ensure the withholdings and deductions are remitted in a timely manner. This includes salary payments, tax withholdings, and deductions from a paycheck.
We can handle your payroll, so that you are not bogged down by trying to accurately pay your employees, taxes, and health insurance and can focus on growing your business. This is the most important moral factor in your business in meeting the need of your employees.