It’s a really simple process that involves three basic steps.
1. First, you’ve got to collect all the payroll information correctly. This means you have to take the days each employee worked during the pay period with the help of a scheduling, or timekeeping system. Some businesses use a combination of two or three of these.
2. In the second step, the earnings and deductions must be calculated. Input the data collected into the payroll system
. This can be uploaded electronically. The exact steps in the computation procedure vary from software to software.
3. Finally, pay your employees their salary by means of your chosen method of payment. Salaries are paid by the payroll cheque, direct deposit, and even in cash, as per company policy.