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Payroll vs. Contract — What's the Difference?

Payroll vs. Contract — What's the Difference?

Difference Between Payroll and Contract

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Payroll

In treasury management, a payroll is the list of employees of some company that is entitled to receive payments as well as other work benefits and the amounts that each should receive. Along with the amounts that each employee should receive for time worked or tasks performed, payroll can also refer to a company's records of payments that were previously made to employees, including salaries and wages, bonuses, and withheld taxes, or the company's department that deals with compensation.

Contract

A contract is a legally binding document between at least two parties that defines and governs the rights and duties of the parties to an agreement. A contract is legally enforceable because it meets the requirements and approval of the law.

Payroll

A list of a company's employees and the amount of money they are to be paid
There are just three employees on the payroll

Contract

An agreement between two or more parties, especially one that is written and enforceable by law.

Payroll

A list of employees receiving wages or salaries, with the amounts due to each.
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Contract

The writing or document containing such an agreement.

Payroll

The total sum of money to be paid out to employees at a given time.

Contract

The branch of law dealing with formal agreements between parties.

Payroll

A list of employees who receive salary or wages, together with the amounts due to each.

Contract

Marriage as a formal agreement; betrothal.

Payroll

The total sum of money paid to employees.

Contract

The last and highest bid of a suit in one hand in bridge.

Payroll

(accounting) The calculation of salaries and wages and the deduction of taxes etc.; the department in a company responsible for this.

Contract

The number of tricks thus bid.

Payroll

(euphemistic) Bribes paid to people.

Contract

Contract bridge.

Payroll

(transitive) To place on a payroll.

Contract

A paid assignment to murder someone
Put out a contract on the mobster's life.

Payroll

A list of employees and their salaries;
The company had a long payroll

Contract

To enter into by contract; establish or settle by formal agreement
Contract a marriage.

Payroll

The total amount of money paid in wages;
The company had a large payroll

Contract

To acquire or incur
Contract obligations.
Contract a serious illness.

Payroll

The department that determines the amounts of wage or salary due to each employee

Contract

To reduce in size by drawing together; shrink.

Contract

To pull together; wrinkle.

Contract

(Grammar) To shorten (a word or words) by omitting or combining some of the letters or sounds, as do not to don't.

Contract

To enter into or make an agreement
Contract for garbage collection.

Contract

To become reduced in size by or as if by being drawn together
The pupils of the patient's eyes contracted.

Contract

An agreement between two or more parties, to perform a specific job or work order, often temporary or of fixed duration and usually governed by a written agreement.
Marriage is a contract.
Sign a contract
Write up a contract
Read a contract
Countersign a contract
Legally-binding contract
Unwritten contract

Contract

(legal) An agreement which the law will enforce in some way. A legally binding contract must contain at least one promise, i.e., a commitment or offer, by an offeror to and accepted by an offeree to do something in the future. A contract is thus executory rather than executed.

Contract

(legal) The document containing such an agreement.

Contract

(legal) A part of legal studies dealing with laws and jurisdiction related to contracts.

Contract

(informal) An order, usually given to a hired assassin, to kill someone.
The mafia boss put a contract out on the man who betrayed him.

Contract

(bridge) The declarer's undertaking to win the number of tricks bid with a stated suit as trump.

Contract

(obsolete) Contracted; affianced; betrothed.

Contract

(obsolete) Not abstract; concrete.

Contract

(ambitransitive) To draw together or nearer; to shorten, narrow, or lessen.
The snail’s body contracted into its shell.
To contract one’s sphere of action

Contract

(grammar) To shorten by omitting a letter or letters or by reducing two or more vowels or syllables to one.
The word “cannot” is often contracted into “can’t”.

Contract

(transitive) To enter into a contract with. en

Contract

(transitive) To enter into, with mutual obligations; to make a bargain or covenant for.

Contract

(intransitive) To make an agreement or contract; to covenant; to agree; to bargain.
To contract for carrying the mail

Contract

(transitive) To bring on; to incur; to acquire.
She contracted the habit of smoking in her teens.
To contract a debt

Contract

(transitive) To gain or acquire (an illness).

Contract

To draw together so as to wrinkle; to knit.

Contract

To betroth; to affiance.

Contract

To draw together or nearer; to reduce to a less compass; to shorten, narrow, or lessen; as, to contract one's sphere of action.
In all things desuetude doth contract and narrow our faculties.

Contract

To draw together so as to wrinkle; to knit.
Thou didst contract and purse thy brow.

Contract

To bring on; to incur; to acquire; as, to contract a habit; to contract a debt; to contract a disease.
Each from each contract new strength and light.
Such behavior we contract by having much conversed with persons of high station.

Contract

To enter into, with mutual obligations; to make a bargain or covenant for.
We have contracted an inviolable amity, peace, and lague with the aforesaid queen.
Many persons . . . had contracted marriage within the degrees of consanguinity . . . prohibited by law.

Contract

To betroth; to affiance.
The truth is, she and I, long since contracted,Are now so sure, that nothing can dissolve us.

Contract

To shorten by omitting a letter or letters or by reducing two or more vowels or syllables to one.

Contract

To be drawn together so as to be diminished in size or extent; to shrink; to be reduced in compass or in duration; as, iron contracts in cooling; a rope contracts when wet.
Years contracting to a moment.

Contract

To make an agreement; to covenant; to agree; to bargain; as, to contract for carrying the mail.

Contract

Contracted; as, a contract verb.

Contract

Contracted; affianced; betrothed.

Contract

The agreement of two or more persons, upon a sufficient consideration or cause, to do, or to abstain from doing, some act; an agreement in which a party undertakes to do, or not to do, a particular thing; a formal bargain; a compact; an interchange of legal rights.

Contract

A formal writing which contains the agreement of parties, with the terms and conditions, and which serves as a proof of the obligation.

Contract

The act of formally betrothing a man and woman.
This is the the night of the contract.

Contract

A binding agreement between two or more persons that is enforceable by law

Contract

(contract bridge) the highest bid becomes the contract setting the number of tricks that the bidder must make

Contract

A variety of bridge in which the bidder receives points toward game only for the number of tricks he bid

Contract

Enter into a contractual arrangement

Contract

Engage by written agreement;
They signed two new pitchers for the next season

Contract

Squeeze or press together;
She compressed her lips
The spasm contracted the muscle

Contract

Become smaller or draw together;
The fabric shrank
The balloon shrank

Contract

Be stricken by an illness, fall victim to an illness;
He got AIDS
She came down with pneumonia
She took a chill

Contract

Make smaller;
The heat contracted the woollen garment

Contract

Compress or concentrate;
Congress condensed the three-year plan into a six-month plan

Contract

Make or become more narrow or restricted;
The selection was narrowed
The road narrowed

Contract

Reduce in scope while retaining essential elements;
The manuscript must be shortened

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