Payroll

Payroll refers to the process of managing and processing employee compensation, including wages, salaries, bonuses, deductions, and taxes. It is an essential function within any organization that employs workers. The payroll process involves calculating employee earnings, deducting taxes and other withholdings, and ensuring that employees receive their correct net pay.

Some of the components of payroll are - 

• Gross Pay, also known as gross earnings or gross income, refers to the total amount an employee earns before any deductions or taxes are withheld. It includes all forms of compensation, such as regular wages or salary, overtime pay, bonuses, commissions, and any other income sources related to employment. 
• Deductions, Withholding various taxes (e.g., income tax, Social Security, Medicare) and other deductions (e.g., health insurance premiums, retirement contributions) from employees' gross earnings.
• Reimbursements, Reimbursements refer to payments made by an employer or another entity to cover expenses that an individual has incurred on their behalf. some of them are business travel expenses, office supplies, fuel expenses, equipment or technology etc.,
• Taxes, refer to the various taxes that are withheld from an employee's gross pay to fulfill tax obligations. Both employees and employers have tax responsibilities, and the payroll process is used to facilitate the collection and payment of these taxes. 
• Net Pay, It is the total amount that an employee receives after all required and voluntary deductions are taken out.

The payroll page in the SPARC allows you to view, add(bulk/individual) and delete the payroll process of the employees.

To view the payroll page, Login to SPARC > Menu > Click on Pay roll > payroll.