Payroll refers to the total amount a company pays its employees in the form of wages, superannuation and bonuses for a period of time. On payday, employers pay their employees an amount that is determined by the number of hours worked and the rate they agreed on.
For example…
Let’s say Fish R Us, an aquarium and fish supplier pays their employees on the first of each month. This process could be manual or automated through a payroll processing system. Either way, the payroll will ensure all employees get paid their wages and any other entitlements.
