Payroll

Part of speech: noun

Pronunciation: /ˈpeɪˌɹəʊl/

Definitions

1. A structured framework for tracking employee compensation and any relevant tax deductions
2. An organized method for managing wages disbursement and the calculation of mandatory tax withholdings
3. A systematic approach to recording employee earnings along with applicable tax deductions and benefits management

Etymology: A payroll is, quite literally, a roll of paper. The "roll" in the word comes from the Old French "rolle," a sheet or list, from Latin "rotulus," a small wheel or scroll, and for centuries a roll was an actual rolled-up document on which names and sums were written. Long before the word meant a company's wage bill, a roll was simply a register of people, and employers kept such lists to record who was owed what. Joined to "pay," the compound describes the list of those to be paid and the money owed them. The word is a plain combination of two common English words, so there is no hidden foreign history here, only the older physical sense of "roll" still visible inside it. The modern sense, the total of wages an organisation pays out, is an extension of that ledger meaning rather than a separate invention.

Synonyms: salary, wages, compensation, pay, remuneration