In any type of business, may it be SMEs or corporations, payroll has always played a major role both in the business’ administrative and employees sides.
In the employees’ perspective, payroll is a source of joy for employees. If being paid accurately and timely, it can bring a satisfying compensation of a job well done. Whereas, for business owners, payroll is an essential and crucial accounting matter as it can considerably affect the net income of any business. If payroll accounting is not done accurately and timely for any errors, it can cause businesses to lose money and causes unnecessary upsets to employees.
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