To effectively process payroll in Nigeria is a key responsibility for your business if you have employees. And it is important to do it right. This is because you must make sure payment amounts are correct for employees, and payroll taxes are calculated, reported, and paid to the FIRS and states according to the law.

Unless you want to do your own payroll by hand, you have two options for doing payroll:
• Using payroll accounting software or an online service
• Using an accountant or payroll service provider

In either case, you'll need to know the basics of payroll processing so you can discuss options and deadlines and input the original information.

Here, we discuss in detail the process of paying employees and collecting, reporting, and paying payroll taxes for your employees specifically.

What Does Processing Payroll Include?

Payroll processing, often called "doing payroll" includes:
• Deciding how much to pay employees, how often, and in what way
• Getting withholding information from employees at hire
• Calculating paycheck amounts, including withholding payroll taxes and deductions

To read the full article, click on www.excellentbridge.com/how-to-process-payroll-and-payroll-taxes-in-nigeria