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Intreasury management, apayrollis the list of employees of some company that is entitled to receive payments as well as other work benefits and the amounts that each should receive.[1]Along with the amounts that each employee should receive for time worked or tasks performed, payroll can also refer to a company's records of payments that were previously made to employees, includingsalariesandwages,bonuses, andwithheld taxes,[2]or the company's department that deals with compensation. One way that payroll can be handled is in-house, meaning that a company handles all aspects of the payroll process on its own, including timesheets, calculating wages, producing paychecks, sending the ACH (Automated Clearing House), for any direct deposits, and remitting any tax payments necessary[citation needed]. Payroll can also be outsourced to a full-service payroll processing company. When a company chooses to outsource their payroll, timesheets, wage calculations, creating paychecks, direct deposits, and tax payments can be handled all, or in part, by the payroll company[citation needed].
Payroll plays a major role in the internal operations of a business for several reasons. From the perspective ofaccounting, payroll and payroll taxes are subject to laws and regulations. Payroll in the U.S. is subject to federal, state, and local regulations includingemployee exemptions,record keeping, andtax requirements.[3]Payroll also plays a large role from thehuman resourcespoint of view. Payroll errors, such as late or incorrect paychecks, are a sensitive topic that can cause tension between employees and their employers. One requirement to maintaining highemployee moraleis that payroll must be paid accurately and promptly because employees are very sensitive to any payroll errors.[4]
Kidderminster is a large market and historic minster town and civil parish in Worcestershire, England, 17 miles (27 km) south-west of Birmingham and 15 miles (24 km) north of Worcester. Located north of the River Stour and east of the River Severn, in the 2011 census, it had a population of 55,530.[1] The town is twinned with Husum, Germany.
Situated in the far north of Worcestershire (and with its northern suburbs only 3 and 4 miles from the Staffordshire and Shropshire borders respectively), the town is the main administration centre for the wider Wyre Forest District, which includes the towns of Stourport-on-Severn and Bewdley, along with other outlying settlements.