Payroll

**Payroll** is the sum of all wages, salaries, and other compensation paid to employees by an employer. It includes all payments made to employees, including wages, salaries, bonuses, commissions, tips, and other forms of compensation. Payroll also includes payments made to employees for work-related expenses, such as travel and meal expenses.

**The payroll process** is the process of calculating and paying employees' wages and salaries. The payroll process typically includes the following steps:

1. **Employees submit timesheets or other records of their work hours.**
2. **The employer calculates the employees' wages and salaries based on their hours worked and other factors, such as overtime pay and bonuses.**
3. **The employer withholds taxes and other deductions from the employees' wages and salaries.**
4. **The employer pays the employees their net pay (their wages and salaries after taxes and other deductions have been withheld).**

**Payroll taxes** are taxes that are withheld from employees' wages and salaries by employers. The most common payroll taxes are federal income tax, state income tax, and social security taxes. Employers are also responsible for paying unemployment insurance taxes and workers' compensation insurance premiums.

**Payroll software** can help employers manage the payroll process. Payroll software can help employers calculate wages and salaries, withhold taxes and other deductions, and pay employees their net pay. Payroll software can also help employers with compliance with federal and state payroll laws.

**Payroll is an important part of running a business. By understanding the payroll process and using payroll software, employers can ensure that they are compliant with the law and that their employees are paid on time and accurately.**