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2- Defining Payroll Systems At the heart of financial management lies Payroll Systems, which is dedicated to the accurate calculation and timely disbursement of employeecompensation. Step 6: Cash Talks Take into account wages in the industry and location and calculate salaries. If it’s outside the normal workday, you pay 1.26
Tax-preferred plans: Health flexible spending accounts, health savings accounts, health reimbursement accounts, transportation accounts, and more. Sometimes benefits are paid for wholly by employers; other times they are paid for by employees, and sometimes the expenses are shared. What percentage of total compensation is benefits?
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Employee Compensation 
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