| A | B |
|---|
| Benefits | additional employee compensation which may be monetary or non-monetary in nature |
| Employee Earnings Records | record which displays the history of an employee's payroll reflecting earnings deductions and employee personal data; assists employees in providing evidence to support their employment claims when needed |
| Employee Net Pay | amount a person is paid after subtracting all taxes mandatory deductions and voluntary deductions |
| Employee Register | document or file used to store information about payroll disbursals for each pay period including all deductions and totals needed for general journal entries |
| Employee Withholdings | amount of employee wages not included in the employee’s paycheck because of tax withholdings court-ordered and other mandated withholdings and voluntary deductions such as retirement plans and insurance |
| Employer Payroll Taxes | payroll taxes which must be remitted by the employer such as FICA taxes state unemployment taxes and federal unemployment taxes |
| Gross Earnings – Companies | profits left over after subtracting cost of goods sold administrative and other expenses from net sales |
| Gross Earnings – Individuals | total income earned in a year before any tax deductions or adjustments |
| I-9 Form | mandatory employer form which must be completed to document the legal employment eligibility of each employee |
| Overtime | time worked in excess of 40 hours per week |
| Payroll | financial records which include the earnings and withholdings of employees |
| Salary | regular fixed amount paid to an employee |
| Salary Expense | income statement expense item which reports gross salaries earned by employees |
| Time Card | document which records the amount of hours worked by an employee in a specific time period |
| Wages | regular payments to an employee which are made by an employer based on the number of hours worked and an agreed-upon hourly rate |
| W-2 Form | federal income tax form which employers file for each employee providing information on annual wages earned taxable income taxes withheld and certain employee benefits associated with employee payroll |
| W-4 Form | federal tax form completed by employees which determines the number of withholding allowances and other federal withholding tax situations for each employee during a calendar year |
