Wages vs. Payroll — What's the Difference?

Compensation based on hours worked.

Taxes that employers must withhold and pay on behalf of employees.

Additional pay for working beyond standard hours.

Payroll after all deductions have been applied.

An estimate of the wage needed to cover basic living costs.

The interval at which employees are paid.

Pay based on the number of units produced.

Total employee earnings before deductions.

The lowest legal wage that can be paid to workers.

Software or methods used to manage all aspects of paying employees.

A regular payment, usually on an hourly, daily, or weekly basis, made by an employer to an employee, especially for manual or unskilled work.

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.

Wages The price of labor in an economy.

A list of a company's employees and the amount of money they are to be paid

Often wages (used with a sing. or pl. verb) A fitting return; a recompense

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

To engage in (a war or campaign, for example).

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

Plural of wage. It may take a singular verb. E.g. 'the wages of sin is death' (Romans 6:23 KJV)

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

One's total income for a time period

The total sum of money paid to employees.

The share of the annual product or national dividend which goes as a reward to labor, as distinct from the remuneration received by capital in its various forms. This economic or technical sense of the word wages is broader than the current sense, and includes not only amounts actually paid to laborers, but the remuneration obtained by those who sell the products of their own work, and the wages of superintendence or management, which are earned by skill in directing the work of others.

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

A recompense for worthy acts or retribution for wrongdoing;

(euphemistic) Bribes paid to people.

(transitive) To place on a payroll.

A list of employees and their salaries;

The total amount of money paid in wages;

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

Wages refer to payments to individuals for their labor, while payroll includes total employee earnings and associated costs.

It involves handling the sum of all compensations including deductions, taxes, and benefits.

Typically, overtime wages are calculated at 1.5 times the regular hourly wage.

Payroll includes bonuses, benefits, and tax withholdings, which are not part of direct wages.

Yes, wages can vary based on hours worked or productivity.

It ensures compliance with tax laws and manages employee satisfaction.

Piecework wage is based on output, while hourly wage is based on time worked.

Payroll software and systems help streamline calculations and tax reporting.

They set the baseline salary businesses must pay, impacting overall payroll costs.

It determines how often employees receive their earnings.

It can face legal penalties and damage employee relations.

By deducting taxes, benefits, and other withholdings from gross payroll.

Yes, since payroll is often one of the largest expenses for a company.

It reduces errors and saves time in managing employee payments.

Yes, payroll management must comply with tax and employment laws.