As payroll is designated the payment relationship where a company collects the financial records of its employees. It comes from the Latin nomĭna, plural of nomen, nomĭnis, which means ‘name’. It contains details of the legal and contractual allocations, deductions and withholdings that the worker receives in his salary, and that correspond to a given period of time.
A payroll, in this sense, is an administrative accounting tool that allows the payment of workers in a legal and organized manner, as well as providing useful accounting information for the worker, the company and the body in charge of regulating labor relations. .
The payroll can be settled monthly, fortnightly or weekly, depending on the period of time established between the worker and the company for payment, and it can be recorded manually or electronically, using accounting software.