Payroll processing refers to the task of managing the payment of wages by a company to its employees. The steps involved in payroll processing typically include gathering employee time information for a selected time period, managing benefits & deductions, and distributing employee pay for that time period.
A payroll is a company's list of its employees, but the term is commonly used to refer to: the total .... the costs involved in having payroll trained employees in-house as well as the costs of systems and software needed to process a payroll.