Feed: Squidoo: What Is Payroll Accounting? - AggScore: 13.1

What Is Payroll Accounting? updated Tue Aug 3 2010 3:56 pm EDT

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Payroll Accounting is a type of accounting that mainly focus on recording payroll transactions which every employer should be knowledgeable of. All companies have people that work for them; thus, these people get paid for rendering service to the company. Generally, payroll is defined as the amount of money that employers need to pay their workers set a certain period of time Aside from salary or wages, payroll accounting is concerned with fringe benefits and taxes. Payroll accounts are reflected in the report of the incomes statement since payroll is considered a cost.