| A | B |
|---|
| Departmental accounting system | An accounting system showing accounting information for two or more departments |
| Merchandising business | A business that purchases and sells goods |
| Contra account | An account that reduces a related account on a financial statement |
| Cash discount | A deduction that a vendor allows on the invoice amount to encourage prompt payment |
| Purchases discount | A cash discount on purchases taken by a customer |
| Sales discount | A cash discount on sales. |
| Salary | The money paid for employee services |
| Pay period | The period covered by a salary payment |
| Payroll | The total amount earned by all employees for a pay period |
| Payroll taxes | Taxes based on the payroll of a business |
| Withholding allowance | A deduction from total earnings for each person legally supported by a taxpayer |
| Tax base | The maximum amount of earnings on which a tax is calculated |
| Payroll register | A business form used to record payroll information |
| Employee earnings record | A business form used to record details affecting payments made to an employee |
