What is the most common payroll cycle?

The most common payroll cycle is the monthly payroll cycle, at least on a global scale, considering the number of employees receiving the pay. But it would vary between countries and across states within a country.

What are the steps in a payroll cycle?

The steps in a payroll cycle or process are establishing payroll policies, gathering employee information, calculating taxes and other withholdings and then getting the net salary for every employee. Then submit a report on the payroll and see if you need to rerun any steps in the payroll.

Who maintains payroll in a company?

The payroll process in a company is maintained by a dedicated payroll team. In cases where the payroll team is not there, it could be maintained by the accounting or HR teams. Generally, if you cannot rely on an in-house payroll as your company grows, it is preferable to outsource your payroll to a third-party payroll agency.