What are the activities present in payroll task?
1. Processing Payroll to generate Paycheck and Pay Stubs
2. Generating Tax reports and vouchers using which Taxes are deposited to Govt (Employee Tax).
3. Processing reports that are handed over to Accounting Dept.
4. Ensuring that the Deductions, Benefits, Acruals, Taxes and Salaries are accurate (
5. Posting the Journals to Finance
6. Processing Govt Reports and submitted to Govt
7. Entering interims (may also be done by HR in some Companies)
7. Year End Process to generate W2s