The accounting process of paying employees for services rendered is called payroll processing. Not only that as it withholds payroll taxes, insurance premiums, employee benefits, garnishments and other deductions.
Global Associates understands that the payroll involves the calculation of amounts due the employee, such as hourly wages, a salary consisting of a certain amount per calendar period, or pay to salespersons on commission, as well as reimbursement for employee-paid expenses such as travel (calculated either based on actual amount paid by the employee or utilizing a per diem rate).
Most payments are computed amounts of paid vacation time and accrued sick leave which have been used or are available for use. If an employee benefits vacation pay or sick leave, these amounts are then favored to the amount due the employee to be paid which are collectively referred to as gross pay.