Successful businesses must stay on top of their accounting. Learn how to use payroll journal entries to track wages and other financial data.

Payroll processing requires an EIN, pay schedule, gross pay calculation, deduction management, and tax withholding. Follow these steps to run payroll.

With challenges such as time, federal and state tax laws, or other complexities, such as worker tips, small business owners may benefit by hiring a payroll services provider. — Getty Images/damircudic ...