A payroll ledger is a document used by businesses to track how much the business spends on payroll. This document also tracks how much the company pays in taxes and benefits, such as retirement matching or health insurance premiums.
Businesses that have accounting software likely already have a payroll ledger option available. The information uploads automatically once payroll for the pay period is complete. Business owners that do not have accounting software have the option to create their own payroll ledger, however this can be time consuming as a worker needs to individually enter each item into a spreadsheet document.