Data Collection Collect information regarding the hours worked by employees, their rate of pay, and any additional earnings or deductions.
Calculation Calculate gross wages, deductions, and net pay. This step often involves the use of [payroll software]() to ensure accuracy and efficiency.
Disbursement Pay employees through direct deposit, checks, or other payment methods. Ensure that pay stubs or statements are provided to employees detailing their earnings and deductions.
Record-Keeping Maintain records of all payroll transactions for future reference and compliance purposes. These records are essential for [auditing]() and resolving any payroll disputes.