< Back to Glossary


Payroll refers to the process of paying employees for the work that they have performed. It involves calculating the amount of pay that each employee is entitled to, withholding the appropriate taxes and other deductions, and issuing payment to the employees. Payroll is an important function for a business because it ensures that employees are paid accurately and on time. It is also a compliance-heavy process, as companies are required to comply with various federal, state, and local laws and regulations regarding payroll, such as withholding taxes and providing pay stubs to employees.

Revolutionize Your Accounting with Finanshels
Book Free Consultation
Bader Al Kazemiquote
"If you ever do any financial modeling/forecasting, I seriously can't recommend Finanshels enough. they are a dependable team of professionals who work hard to deliver results."
Bader Al Kazemi
Founder, Optimize App
Restaurants Accounting
The Restaurant Business An Accounting Guide

The Restaurant Business An Accounting Guide

Get Free Guide