What is Payroll?

Jan 25, 2017

Industry News

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payroll

Payroll is the process of providing compensation to employees for their efforts on behalf of a business. The outcome of the payroll process can result in one of the largest periodic cash expenditures of a business.

The payroll function includes:

• Collecting information about hours worked and obtaining approval of those hours
• Calculating amounts payable and deductable
• Creating payments

There is considerable risk of large penalties imposed by the government if payroll taxes and related withholdings are not remitted to the government according to a strict payment schedule. A good way to avoid the risk of missing these tax remittances is to outsource payroll to a third-party payroll processing service, such as our Uphando HR services, which ensures accurate calculations and reports.

Payroll, which can otherwise be a time-consuming process that requires an inordinate amount of staff time & which may result in a large number of errors, can be streamlined with the help of Uphando HR Service, as a Payroll professional will be dedicated to assist you with all your payroll requirements.

#Payroll
#UphandoHR
#SettingTheStandards

 


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