Payroll Basic
Refers to total earnings before deductions
What is Gross pay?
Tax supporting Social Security & Medicare?
What is FICA?
Minimum years payroll records must be kept.
What is three years?
Employees with the same frequency of pay periods, and the same due date for approving and committing payroll
What is a pay group?
Tax on money earned at work
What are INCOME TAXES?
U.S DB payroll frequency.
What is Semi-Monthly?
Determines income tax withholding.
What is W-4?
Laws governing employee classification.
What is Fair Labor Standards Act?
The combination of a specific pay group and pay period in Dayforce
What is pay run?
What is the purpose of Form W-2?
Used by employers to report an employee's wages, withheld taxes, and other information to employees, the IRS, and the Social Security Administration each year.
Annual form for reporting wages and taxes?
What is a W2?
Type of deduction that reduces taxable income.
What are pre-tax deductions?
Section of the Internal Revenue Code Regulating Cafeteria Plans
What is section 125?
There are 4 main steps of payroll processing -Calculate, Validate and Commit What is the missing step?
What is Lock?
What is the difference between exempt and non-exempt employees?
Exempt employees are not entitled to overtime pay if they meet certain criteria; non-exempt employees must be paid overtime for hours worked over 40 in a week.
Standard U.S. overtime payrate?
What is 1.5 Times the regular rate?
What is Gross + Imputed Income - Pre tax/deferred Deductions?
A legal process where an employer, is instructed to withhold a portion of an employee's income to pay off unpaid debts.
What is a garnishment?
Used to add one-time earnings or deductions, and to modify earnings, deductions, or taxes that were incorrect or missing in the pay run.
What is Quick Entry?
The amount of money you actually receive (after tax withholding and other deductions are taken out of your paycheck) is called your
What is net income?
Agency responsible for wage laws?
What is the Department of Labor?
Social Security wage limit reset every?
What is calendar year?
California employee terminated in the middle of pay period when is final paycheck due?
What is on last day worked?
Employee Compensation, Original Hire Date, Termination Date and Pay type data can be found here in Dayforce.
What is Employment Menu?
The number of pay checks received by someone who gets paid semi-monthly.
What is 24 ?