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In plain terms, a payroll is a list comprising the names of every employee in an organization and the salaries they receive. This document helps to keep track of the total sum of money paid to employees and taxes paid to the government. The payroll is a document necessary for the proper management of remunerations. Furthermore, it helps in the generation of other employee-related documents as required by law. It also provides a detailed summary of all funds paid by a company to her staff within a specific time frame.