Payroll Software
A digital solution that automates the process of paying employees, including calculating wages, withholding taxes, processing direct deposits, generating pay stubs, and filing tax reports.
Examples
- Automating bi-weekly payroll runs
- Calculating federal, state, and local tax withholdings
- Processing direct deposits and generating pay stubs
- Filing W-2s and 1099s at year-end
Related Terms
The total amount of money an employee earns before any deductions such as taxes, insurance premiums, retirement contributions, and other withholdings are applied.
The amount of money an employee takes home after all deductions — including federal and state taxes, Social Security, health insurance, and retirement contributions — are subtracted from gross pay.
An integrated software solution that combines HR processes and information technology to manage employee data, streamline HR operations, and provide analytics for strategic decision-making.
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