Payroll accounting

Payroll accounting is a specific area of accounting that deals with the administration and processing of compensation for employees in a company. It encompasses all financial aspects of employee compensation, including wages, salaries, bonuses, commissions, benefits and other non-cash benefits.

The main tasks of payroll accounting include

- Payroll processing

- The maintenance of employee data

- The withholding of deductions

- The preparation of wage and salary statements

- Compliance with reporting and payment obligations

Proper execution of payroll is critical to meeting legal requirements, ensuring employee satisfaction and maintaining the financial integrity of the organization.

QVANTUM’s integrated financial planning makes payroll accounting particularly simple and efficient.

Payroll

Payroll Accounting