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Payroll

oboloo Glossary

Payroll

Payroll is the sum of all financial transactions related to the payment of a company’s employees, including compensation in wages and salaries, bonuses, and deductions. It encompasses a wide range of activities, such as calculating wages and withholding taxes, creating paychecks, administering benefits programs, keeping track of vacation days and sick leave, monitoring hours worked, and ensuring that payroll expenses are accurately reported for legal and tax purposes. Payroll isn’t just about numbers—it’s also about managing relationships and ensuring everyone in the organization is taken care of.

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