Skip to main content
Return to homepage
  • Free Trial
  • Free Trial
  • Plans
    • Plans for Individuals
    • Plans for Teams
    • Plans for Clients
    • Plans for Enterprise
  • Solutions
    • Self Educators
    • Small Business
    • Industry Associations
    • Accounting Firms
    • Franchise Groups
    • Finance Brokers
    • Corporations
    • Business Schools
  • More
    • About
    • Features
    • Experts
    • Blog
    • Media
    • Press
    • Contact
  • Support
  • Login
    • Watch
    • Admin

Home Definitions

What is a Payroll? Definition or Meaning

Posted by Bizversity

Payroll refers to the total amount a company pays its employees in the form of wages, superannuation and bonuses for a period of time. On payday, employers pay their employees an amount that is determined by the number of hours worked and the rate they agreed on.

For example…

Let’s say Fish R Us, an aquarium and fish supplier pays their employees on the first of each month. This process could be manual or automated through a payroll processing system. Either way, the payroll will ensure all employees get paid their wages and any other entitlements.

Bizversity
Bizversity

  • Facebook
  • YouTube
  • Twitter
  • LinkedIn
  • Instagram

Our Mission is to grow the people that move the world forward. Because business people change things. They learn, they create, they build, they disrupt. And when they do, they influence the people around them and the world becomes a better place. So if you are an entrepreneur, business leader, executive or startup, and you want to grow, welcome to Bizversity.

  • About
  • Blog
  • Features
  • Tutorials
  • Media
  • Press
  • Careers
  • Definitions
  • Questions
  • Support
  • Contact

Copyright © 2023 Bizversity
  • Privacy Policy
  • Disclaimer
  • Terms of Service
  • Website Terms of Use