Payroll is one of the most important functions in any organization because it ensures that employees are paid accurately and on time. It includes all financial records related to employee compensation, such as basic salary, allowances, bonuses, deductions, overtime, and other adjustments. Since payroll directly affects employee satisfaction and legal compliance, even a small error can create confusion or disputes. For this reason, companies maintain proper payroll systems and correction procedures. Importance of Payroll From an accounting perspective, payroll is a critical financial record used to track employee compensation across departments. It plays a key role in financial reporting, budgeting,…