When you run a business, it is crucial that you keep things organized not only for your own workflow and productivity, but also to avoid mistakes. This is particularly true when it comes to payroll – a sensitive subject to and one that can cause ill will if not executed correctly.

In this post, we will explore what we mean by the term ‘payroll’, we will look at some common challenges facing employers, and we will find solutions that can help them to mitigate those challenges.

What is Payroll?

The term payroll specifically refers to the long list of people working for you, who you are going to need to pay. This should be updated regularly, to reflect the number of hours worked.

The payroll system used in your business is what will ensure that employees are rewarded for the amount of time they put into a day’s work. This should be a mutually beneficial system which ensures employees don’t get underpaid and that the company only pays employees for the work done e.g. not paying for unpaid illness days or vacation days.

The Challenges Faced

So that is the payroll. But while it’s very important, it unfortunately also poses a number of unique challenges. Here are some of the challenges faced, and the ways that you can solve them.

1 Keeping Track