What Is Payroll?
Payroll is the process of a business paying employees. It means a list of all employees within a company, employee wages and the process of making a record of the amount of money an employee has made over time.
Managing payroll entails of calculating employee wages and factoring payroll taxes. Payroll can also refer to a company’s financial records of employees and the distribution of employee payslips.
Payroll is an essential and very important part in any business in which people are employed to work. It is required to:
Calculate how much your employees need to be paid and to pay your employees.
Calculate how much tax and National Insurance you need to deduct from an employee’s gross pay. In addition to all other aspects such as calculations required to create a payslip and this includes: Pay as You Earn (PAYE), Tax and National Insurance (NI), Pensions, Occupational Maternity Pay (OMP), Statutory Sick Pay (SSP), Occupational Sick Pay (OSP), Statutory Maternity Pay (SMP) and Statutory Adoption Pay (SAP).
Report employee pay details to HMRC.
Alphapay can help you professionally manage your payroll and assist in saving time and costs.
Please contact one of our sales team for further assistance.