Payroll
Payroll refers to the total amount a company pays its employees, including wages, bonuses, taxes, and benefits. Payroll accounting involves calculating gross pay, withholding taxes, and remitting payments to tax authorities. Accurate payroll ensures compliance, employee satisfaction, and proper recording of compensation expenses in financial reports.
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Purchase Order
A purchase order is a formal document issued by a buyer to a supplier, confirming the purchase of goods or…
Petty Cash
Petty cash is a small fund kept on hand for minor or incidental expenses, such as office supplies or travel…
Provision
A provision is an estimated liability recorded when a business expects a future obligation from a past event but the…
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