Payroll records are documents that a company maintains to track the payroll information of its employees. They include details such as the employee's name, pay rate, hours worked, and any taxes or deductions that have been withheld from the employee's pay. Payroll records are important for a company because they provide a record of the pay that has been issued to employees and the taxes and deductions that have been withheld. They are used to prepare a company's payroll tax returns and to provide employees with pay stubs and other documents.
