The payroll processing process involves a series of tasks to ensure employees are paid accurately and on time. It includes gathering timekeeping data, verifying hours worked, calculating gross and net pay, applying deductions, and ensuring tax compliance. Employers must also deposit payroll taxes, submit reports to tax authorities, and issue payslips or direct deposits. The process must be repeated every pay period, whether weekly, biweekly, or monthly. Many companies use payroll software or outsource to payroll service providers to increase efficiency and reduce errors.