oboloo Glossary

Calculating Payroll

oboloo Glossary

Calculating Payroll

Calculating payroll is the process of collecting, organising and processing information about employees’ hours worked as well as any earnings, deductions and taxes so that employees can receive a paycheck. It must be done accurately to ensure that employees are paid correctly and within legal and organisational guidelines. Payroll calculations require attention to detail and an understanding of payroll processes, legislation and taxation. Employers must calculate payroll in an efficient, effective and compliant manner.