Which financial document provides a record of employee compensation for a specific period?

The payroll records serve as the financial document that provides a detailed account of employee compensation over a specific period. This documentation includes essential information such as hourly wages, salaries, bonuses, and deductions for taxes and benefits, serving as a comprehensive record of what employees are owed for their work. Payroll records are crucial for businesses to ensure accurate payment to employees, comply with tax laws, and maintain clear financial records for audits and reporting purposes.

While profit and loss statements summarize revenues and expenses of a business over a specific time frame, they do not specifically outline individual employee compensation details. Expense reports track the spending incurred by employees on behalf of the company but do not provide a detailed breakdown of employee salaries or wages. Tax ledgers deal with tax records and related transactions, which also do not focus explicitly on employee compensation. Thus, payroll records are the definitive source for documenting employee compensation for a defined period, making them the correct choice in this scenario.