Payroll is the major component of every company because it is the most frequently used piece of paper. It contains complete information about each employee working in the company which is the reason it is a vital document. It contains the details about the payment that every employee working in the company should get. In other words, it is a document that contains the details of the employee regarding his salary, bonus, increment, discounts, deductions, etc. Importance of payroll: From an accounting perspective, a payroll is a document that is used to keep the record and track of all the…
