Payroll

 

 

In a company, payroll is the sum of all financial records of salaries, wages, bonuses and deductions. In accounting,payroll refers to the amount paid to employees for services they provided during a certain period of time.Payroll plays a major role in a company for several reasons.

From an accounting point of view, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and they are subject to laws and regulations from ethics in business viewpoint payroll is a critical department as employees are  responsive to payroll  errors and irregularities; good employee morale requires payroll to be paid timely and accurately.

The primary  mission  of the  payroll  department  is  to ensure  that  all employees are paid  accurately and timely with the correct withholdings and deductions, and to ensure the withholdings and deductions are remitted in a timely manner.

This includes  salary payments, tax  withholdings, and  deductions from a paycheck. In Samtek Systems we work for our customers to found out the cost effective Payroll solution not only accounting but for all the application of payroll.