Payroll management is a process of managing the payment of salary by a company to its employees. This process basically covers aspects like gathering employee time details, managing benefits & deductions, bonuses and issuing employee salary for that time period. Yet, payroll process plays a very vital role in any establishment as it maintains the morale of employees to the financial stability of the company. A good management system can achieve your business competentlyand helps in building company’s reputation and handling administrative tasks.
Moreover, thisPayroll Management process begins with collecting wages and hour information, use that info to calculate gross wages, subtract all pertinent withholdings, print checks and make direct deposit and prepare all employment tax filings.