Meaning & Definition of word "Payroll"

Payroll

/ˈpeɪˌroʊl/

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.

●The term 'payroll' originated in the early 20th century, combining 'pay' and 'roll', referring to a roll or list of employees that received pay.

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.

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.

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.