What your accounting department does.

One thing they do that’s terribly important to everyone working at your company is Payroll. All the salaries, bonuses etc and taxes earned and paid by every employee every pay day have to be recorded. The payroll department has to ensure that the appropriate federal, state and local taxes are being deducted. The pay stub attached to your paycheck records these taxes. They usually include income tax, social security taxes pluss employment taxes that have to be paid to federal and state government. Other deductions include personal ones, such as for retirement, vacation, sick pay … Read More