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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]
Rugby is a market town in Warwickshire, England, close to the River Avon. The town has a population of 70,628 (2011 census[1]) making it the second-largest town in the county. The town is the main settlement within the larger Borough of Rugby which has a population of 100,500 (2011 census).
Rugby is on the eastern edge of Warwickshire, near the borders of Leicestershire and Northamptonshire. It is 83 miles (134 km) north of London, 30 miles (48 km) east-southeast of Birmingham, 11 miles (18 km) east of Coventry, and 19 miles (31 km) south southwest of Leicester.
Rugby was a small rural market town until the mid-19th century, when the siting of a major railway junction at the town spurred the development of manufacturing and engineering industry, and the rapid growth of population.
Rugby School, an independent school situated in the town, is the birthplace of Rugby football, which according to legend, was invented in 1823, by a Rugby schoolboy William Webb Ellis.[2] The school was founded in 1567, and rose to national prominence as a public school in the 18th century.