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Meaning of payroll and how is it calculated in payroll?

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Answer:

A payroll is, in layman's terms, the out goings a company has to spend on its staff or human resources. These are often very complicated and difficult to figure out due to factors such as staff illness, holiday pay and leaves of absence. It is important to make sure your pay roll is correctly administered as payroll's are used to help figure out company and personal taxes. Inability to keep these records properly can lead to big fines.

First answer by KJCasey. Last edit by KJCasey. Contributor trust: 0 [recommend contributor ]. Question popularity: 4 [recommend question].

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