| A | B |
|---|
| Social Security Tax Medicare Tax FUTA and SUI | Payroll taxes imposed on the employer |
| QuickBooks Payroll Services | A variety of services offered by QuickBooks Pro; includes automatic processing of payroll and requires a monthly service fee. |
| Payroll Liabilities and Payroll Expenses | Two default general ledger accounts created by QuickBooks Pro when the payroll feature is activated. |
| Social Security Tax | Medicare Tax |
| Payroll Item List | Contains a file for each type of payroll item that affects the payroll computation. |
| Government Agency | Listed on the Vendor Center and included in Payroll Item List; identifies where the employee’s payroll withholdings should be sent. |
| Manual Payroll Calculations | An option that must be activated in order to access the Payroll Item List when a company does not subscribe to QuickBooks Payroll Services. |
| Social Security and Medicare | Payroll item that requires identifying two liabilities accounts and one expense account in the Payroll Item List. |
| Payroll Items | Compensation |
| Payroll | Involves computing each employee’s gross earnings |
