Payslip vs. Payroll — What's the Difference?

A payslip is a written statement provided by the employer to the employee detailing pay and deductions.

Payroll is the process through which companies pay their employees.

A payslip is a summary of an individual's salary details, showing gross income and any deductions.

Payroll refers to the list of employees and their corresponding salaries.

A payslip is a document outlining an employee's earnings and deductions for a specified period.

Payroll is the total sum of all compensation a business must pay to its employees for a set period.

A payslip represents proof of income for employees, often used for verification purposes.

Payroll encompasses the tasks of calculating, distributing, and documenting employee wages.

A small document, included with an employee's wage or salary, giving details of money earned and tax and insurance paid.

A list of a company's employees and the amount of money they are to be paid

A slip of paper included with a person's salary payment, that records how much money the person has earned and how much tax or insurance etc. has been taken out.

A list of employees receiving wages or salaries, with the amounts due to each.

A payslip is an official acknowledgment from the employer about the payment made to the employee.

(euphemistic) Bribes paid to people.

A note given to an employee when they have been paid, detailing the amount of pay given, and the tax and insurance deducted.

In treasury management, a payroll is 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. 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, including salaries and wages, bonuses, and withheld taxes, or the company's department that deals with compensation.

A slip of paper included with your pay that records how much money you have earned and how much tax or insurance etc. has been taken out

The total sum of money to be paid out to employees at a given time.

A list of employees who receive salary or wages, together with the amounts due to each.

(accounting) The calculation of salaries and wages and the deduction of taxes etc.; the department in a company responsible for this.

The total sum of money paid to employees.

(transitive) To place on a payroll.

A list of employees and their salaries;

The total amount of money paid in wages;

The department that determines the amounts of wage or salary due to each employee

Payroll is an employer's record of its employees' salaries, wages, bonuses, and withheld taxes.

A payslip is a document provided to an employee that details their earnings, benefits, and deductions for a given period.

A payslip is vital as it offers transparency to employees about their earnings, deductions, and ensures clarity in case of payment discrepancies.

Payroll refers to the comprehensive system or process through which businesses manage, calculate, and distribute employee wages and salaries.

Payroll is a significant expense for businesses, affecting cash flow and is subject to regulations and taxes, making its accurate management crucial.

A payslip typically shows both gross pay (before deductions) and net pay (the amount the employee takes home).

While a payslip provides individual payment details to an employee, payroll encompasses the broader process of managing and distributing wages for all employees.

Yes, employees have a right to a payslip, and in many places, employers are legally obligated to provide them regularly.

Yes, incorrect payroll can lead to financial penalties, employee dissatisfaction, and possible legal consequences for businesses.

No, payslips vary as they detail individual earnings, deductions, and benefits, which can differ among employees.

Typically, the HR or finance department manages payroll, often with the help of software or external services.