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what is the importance of record keeping in a payroll department good day everyone and Welcome to our video on the importance of record keeping in a payroll department imagine a world where paychecks are given out of random amounts taxes are calculated incorrectly and benefits are not properly distributed sounds chaotic right this is why record keeping is the backbone of a successful payroll department it ensures that every employee is paid fairly on time and with the correct deductions and benefits let us explore the importance of record keeping in the payroll department the importance of understanding this topic is often overlooked but it is crucial for any employer we will discuss why record keeping is crucial for payroll and how it can benefit your business in the long run first and foremost record-keeping ensures compliance with legal and regulatory requirements compliance is crucial to record keeping since failure to comply can lead to penalties and fines by maintaining correct r
