Meaning & Definition of word "Payroll"
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Payroll
/ˈpeɪˌroʊl/
noun:
- 1. The list of a company's employees and the amounts of money they are to be paid.
- Example: The payroll for this month has already been processed and distributed.
- 2. The total amount of money that a company pays to its employees for a given period.
- Example: Due to the increase in staff, our payroll expenses have risen significantly.
- 3. The administrative process of paying employees.
- Example: The company outsourced its payroll to improve efficiency and accuracy.
Etymology
The term 'payroll' originated in the early 20th century, combining 'pay' and 'roll', referring to a roll or list of employees that received pay.
Common Phrases and Expressions
on the payroll:
To be officially employed and receiving salary from a company.
payroll taxes:
Taxes withheld from employee wages by the employer.
payroll department:
The division of a company responsible for processing employee payments.
Related Words
wages:
Payments made to employees for their work, typically on an hourly or daily basis.
salaries:
Fixed regular payments made to employees, typically expressed on an annual basis.
compensation:
The total monetary remuneration or payment given to employees for their work.
Slang Meanings of payroll
Meaning: getting paid
Example Sentence: I'm just waiting for payroll to come in so I can pay my bills.
Meaning: the money flow from work
Example Sentence: Once you hit payroll this week, you'll be in the green again.