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What is Human Resource?
Human Resource is the management process of an organisation’s workforce, or human resources. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, as well as overseeing organisational leadership and culture and ensuring compliance with employment and labour laws.
What is Payroll?
In a company, payroll accounting is the sum of money paid to employees, e.g. wages, bonuses and deductions, for the services they provided during a certain period of time.
Payroll plays a major role in a company for several reasons. From an accounting point of view, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and they are subject to laws and regulations.
From an ethics-in-business viewpoint, payroll is a critical department as employees are responsive to payroll errors and irregularities: good employee morale requires timely and accurate payroll processing.
If you would like to learn more about how PayrollServe can help, please contact us.