Put simply, payroll is the process by which your employees receive their wages. But it’s also much more than that: It’s how you demonstrate your commitment to your people, fulfill your obligations to the government and keep your financial records in order, providing the peace of mind you need to grow your business.
Whether you decide to outsource the job, hire a full-time bookkeeper or simply do it yourself, there are some basic aspects of payroll you should familiarize yourself with before getting started.
1. Total Workforce Management 2013: The State of Time and Attendance, Aberdeen Group, July 2013.