What is payroll?
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Payroll is calculated on the basis of the results of each month of service for all team members, up to a specific stated date, according to the stated compensation, bonuses and other benefits the company has agreed to pay.
The company also handles the calculation of taxes and other financial operations made each month as required by law.
Often, organizations use the services of outside accountants or an in-house department that summarizes the necessary compensation, calculates, accounts for, and conducts the necessary payments in the system.