Payroll is the total of all compensation a business must pay to its employees for a set period of time or on a given date. It is usually managed by the accounting or human resources department of a business. Small-business payroll is run by the owner or an associate.
Payroll processing is usually outsourced to specialized firms.
Payroll can also refer to the list of number of employees of a business and the amount of compensation due to each of them. It is a major expense for most businesses and is almost always deductible. It means that the expense may be deducted from gross income lowering the taxable income of the company.
Payroll and Payroll Solutions can differ from one pay period to another because of overtime, sick pay, and other variables.
