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What Is Payroll? – Definition and Components – Patriot Software

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What Is Payroll? – Definition and Components

by on November 30, 2015

If your business has employees, you’ll have to do payroll. There’s no way to avoid it, but what is payroll?

Well, payroll can mean a few different things:

  1. Payroll refers to the employees you pay, along with employee information.
  2. Payroll is also the amount you pay employees during each pay period.
  3. Or payroll can refer to the process of actually calculating and distributing wages and taxes.

Let’s dive deeper into the parts of payroll.

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