Payroll refers to the process by which employees receive their salary. It must be processed on a recurring basis and must be accurate each and every time. The payroll department takes care of wage deductions, record keeping and verifying the reliability of pay data. It also delivers payroll checks, maintains compliance with tax laws, records paperwork for new hires and edits existing employee files. Payroll professionals are also responsible for calculating reimbursements, bonuses, overtime and holiday pay.