| A | B |
|---|
| Payroll | A list of the employees and the payments due to each employee for a specific pay period |
| Pay Period | The amount of time over which an employee is paid |
| Payroll Clerk | 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 | An amount of money paid to an employee at a specified rate per hour worked |
| Time Card | A record of the time an employee arrives at work, the time the employee leaves, and the total number of hours worked each day |
| Electronic Badge Readers | Employee is issued an identification badge with a magnetic strip that contains employee information. When the employee inserts the identification badge into the badge readerm the magnetic strip is scanned and information is transferred directly to the computer |
| Commission | An amount paid to an employee based on a percentage of the employee's sales |
| Overtime Rate | Employers are required to pay overtime when employees coverd by these laws work more than 40 hours per week |
| Deduction | An amount that is subtracted from an employee's gross earnings |
| Allowance | Reduces the amount of income tax to be withheld |
| 401(k) Plan | An employee contributes a portion of gross earnings to an account in the 401(k) plan and does not pay income tax on the contributed earnings |
| Payroll Register | A form that summarizes information about employee's earnings for each pay period |
| Net Pay | The amount left after total deductions are subtracted from gross earnings |
| Direct Deposit | The depositing of an employee's net pay directly into her or his personal bank account; usually made through electronic funds transfer |
| Employee's Earnings Record | An individual payroll record prepared for each employee; includes data on earnings, deductions, net pay, and accumulated earnings |
| Accumulated Earnings | The employee's year-to-date gross earnings, or the employee's gross earnings from the beginning of the year through the end of each pay period |
