Payroll reports summarize data related to employee earnings, deductions, taxes, and net pay over a specified period, typically aligning with each pay cycle.
These reports are essential for tracking payroll expenses, meeting compliance obligations, and making informed financial decisions.
For example, a monthly payroll report might detail total wages paid, tax withholdings, superannuation contributions, and any deductions for benefits.
This information helps businesses analyze labor costs and ensure they comply with tax regulations.
