Payroll Journal

A payroll journal is a financial record that documents all employee-related expenses for a specific period. It details wages, salaries, taxes, and deductions, ensuring that everything paid to employees is accurately recorded. This journal helps businesses track their payroll expenses, ensure compliance with tax laws, and maintain organized financial data. Think of it as a detailed ledger that captures all transactions related to employee compensation, making it easier to review, report, and manage payroll costs within the company's overall financial system.