Payroll helps you record hours worked by employees, calculate employee compensation, produce the necessary checks, and update your general ledger with all the information accumulated and generated using TRAVERSE Accounting Software. It also uses the information you collect to produce the reports and forms required by federal and state laws. Use the Payroll application to automatically figure employee wages; federal, state, and local withholdings; and deductions. The Payroll system also tracks bonus pay and sick and vacation time and accumulates information for tax reporting. The Payroll system also produces paychecks, reports, and employee W-2 forms.