What Is Payroll Reconciliation and Why Is It Important?

Payroll reconciliation is the process of verifying payroll records to ensure that employee wages, taxes, and deductions are accurately calculated and reported. This crucial financial practice helps businesses prevent errors, avoid compliance issues, and ensure that employees receive the correct compensation. By regularly reconciling payroll, companies can maintain financial transparency, reduce the risk of penalties, and enhance employee trust. Learn more about the importance of payroll reconciliation and best practices to streamline the process.