Payroll Accounting
/ˈpeɪˌroʊl əˈkaʊntɪŋ/
Definitions
- (n.) The process of recording, analyzing, and reporting employee compensation, tax withholdings, and deductions to ensure legal compliance and accurate financial records.
Payroll accounting ensures that all employee wages and related taxes are accurately documented and reported.
Forms
- payroll accounting
Related terms
See also
Commentary
Payroll accounting is fundamental in legal contexts for compliance with tax laws and labor regulations; precise record-keeping reduces legal risks.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.