What does the Statistical Summary Detail provide?

The Statistical Summary Detail offers crucial insights into the financial aspects of payroll by presenting information on both net pay liability and tax liabilities. This summary is essential for payroll processing as it allows businesses to have a clear understanding of the total payroll liabilities they will need to account for during each pay period.

Having a breakdown of net pay liability aids in determining what the company is obligated to pay employees after all deductions, while insight into tax liabilities helps ensure that the correct amounts are withheld and submitted to governmental authorities.

Understanding these components helps businesses manage their payroll budget, comply with tax regulations, and prepare for financial reporting. Other options focus on different aspects of payroll data but do not encapsulate the comprehensive nature of net pay and tax liabilities that the Statistical Summary Detail provides.