| A | B |
|---|
| Tax | is the amount levied by the government on individuals and employers. |
| Payroll | is a list of employees and the payments due to each one for a specific pay period. |
| Pay Period | is the amount of time over which an employee is paid, such as weekly, biweekly, etc. |
| Payroll Clerk | is a person who is responsible for preparing the payroll. |
| Gross Earnings | the total amount of money an employee earns in a pay period. |
| Salary | a fixed amount of money paid to an employee for each pay period. |
| Wage | is an amount of money paid to an employee at a specified rate per hour worked |
| Time Card | a record of the times an employee arrives and leaves work each day. |
| Electronic Badge Reader | an identification badge with a magnetic strip that contains employee information used to record starting and ending work hours |
| Commission | is an amount paid to an employee's based on a percentage of the employee's sales. |
| Overtime Rate | 1 1/2 (1.5) times the employee's regular hourly pay rate. |
| Deduction | an amount that is subtracted from gross earnings |
| Form W-4 | an employee's withholding allowance certificate that shows the number of allowances claimed for federal and state income taxes. |
| Tax Table | shows the amount of taxes to be withheld from employees each pay period based on their filing status, such as single, married, etc. |
| Federal Income Tax | is a tax levied by the federal government and withheld from your pay each pay period. |
| State Income Tax | is a tax levied by state government and withheld from your pay each pay period. |
| Social Security Tax (FICA) | These funds are used primarily to fund the old age and disability insurance programs, survivor's benefits program and Medicare program. |
| Medicare Tax | a tax levied by the federal government to fund health insurance benefits for the elderly. |
| 401 K Plan | is a personal employee retirement plan, which is exempted from taxes on earnings. |
| Payroll Register | is a form that summarizes information about employees’ earnings for each pay period. |
| Net Pay | the amount left after total deductions are subtracted from gross earnings. |
| Direct Deposit | is when the employer deposits the employee's check into his or her personal banking account. |
| Employee's Earnings | is a record containing all of the payroll information related to an employee. |
