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All payroll transactions are recorded and tracked in payroll accounting. Paychecks sent to employees, deductions and taxes withdrawn from employee paychecks, and employers' portion of benefit contributions and taxes are all examples of these transactions.

There are five different types of payroll transactions. They are:

  • The regular payroll transaction
  • The direct deposit transaction
  • The check-in transaction
  • The check-out transaction
  • The automatic withdrawal transaction.

Tally is a tool that can be used in accounting and finance to keep track of transactions, such as payroll. It has the ability to make complex calculations and processes easier for both the company's management and employees.

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