Payroll : It is series of accounting transactions dealing with payment of employees for services rendered by them, after processing of various statutory requirements.
It not only just includes salaries but wages, commission, bonus, vacation allowances, sick-leave pay and value of taxable fringe benefits also. It also includes statutory deductions of money from the employees, like provident fund, employees state insurance, professional tax and so on.
The Payroll feature is very useful as it is integrated with accounting to give the user the benefits of simplified Payroll processing and accounting.
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Jun 29, 2010
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1 comments:
Payroll plays a major role in the success of the business. That is why companies which didn't have this feature previously are making an attempt to have one to improve productivity. Being a payroll specialist I'm very well acquainted with its importance.
Regards,
Jimmie Menon
Payroll Providers Guelph
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