Payroll - Term Overview

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The payroll is the amount of money that workers receive every certain period of time for the services provided to the company. As a general rule, payrolls are usually paid monthly, and are of the same amount, regardless of the days you have in the month (28, 30 or 31).

The concept of payroll is used to refer to the entire workforce that is part of a company, and in accounting it's the sum of all the salaries paid by the company. The word is also used to refer to the document in which all the data regarding the salary of each worker are found, such as salary and non-salary perceptions, withholdings or deductions.

Payroll is very important for workers as it allows them to survive and allow them to maintain their way of life. Therefore, it's also very important that they are paid the relevant amounts and in a precise time.

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