When Payroll processes are handled professionally and efficiently, salaries and wages can be paid on time and void of any mistakes. Sometimes handling payroll processes in-house can become a mammoth task that takes key-role staff members away from essential/core tasks and responsibilities.
By definition, payroll processing is the administration of all employee’s financial records. The process includes calculating, monitoring, and paying out of salaries, wages, deductions, and bonuses. It also includes ensuring that employee tax is accurately calculated paid over to SARS.