We provide an all-in-one service specialising in payroll outsourcing services for small & medium-sized businesses and organisations.
Payroll accounting is the process of managing the financial records of employees' salaries, wages, bonuses, net pay, and deductions. It involves:
• Calculating the correct amount owed to employees after deductions like taxes and retirement contributions.
• Recording these payroll transactions in the company's books and financial statements.
• Maintaining detailed records for audit purposes and regulatory compliance.
• Issuing payment to employees in a timely and accurate manner.
This function is essential for ensuring that employees are paid fairly and that the company adheres to all relevant tax laws and regulations. It requires a strong understanding of accounting principles, tax laws, and meticulous attention to detail.
Facing issue in account approval? email us at info@ipt.pw
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