Check Mate
This part of the check is the reason why the check is given.
What is Memo?
This term shows your status before earnings are taken out.
What is gross pay?
A document that employers use to verify their tax liabilities or cross-check financial data.
What is Payroll Report?
What is Local Payroll Report?
This is used to detect errors and fraud.
What is Bank Recon?
This part of the check recognizes the order the check is in within the check book.
What is check number?
Child Support, Alimony, defaulted student loans and credit card debt are all examples of what?
What are Wage Garnishments?
This report show employers how much tax they've withheld from employee wages, how much they've paid government agencies and how much they still owe.
What is Payroll tax liability reports?
Payroll reports are filed by this person.
This is your starting number.
What is the closing balance from the previous month?
Insufficient funds available to fulfill the payment is known as what?
Name two type of tax withholdings.
What are Federal Income Tax, State Income Tax, Medicare, Social Security, Federal Unemployment and State Unemployment?
The most common form for businesses to report their federal payroll taxes.
Wage and Tax Statement, The most common form known to us.
Accountants processes bank statements this many times a month?
What is once?
This agency processes the check after they receive it from the bank.
What is the Federal Reserve?
If you make $75,000 a year, How much do you make monthly?
What is $6,250?
This type of report may vary by location, as do the specific deadlines and types of forms used.
What is State Payroll Reports?
Employer's Annual Federal Unemployment Tax Return
What is Form 940?
During bank recon, these two areas much match.
What bank statements and company records?
The Federal Reserve debits this bank and credits the other bank.
What is debit the issuing bank, credit the receiving bank?
Chris gross pay is $4,689, but he has to payroll deductions including social security at 6.25%, Medicare at 1.25%, 401K at 4.2%, Federal Income Tax at 115, State Income Tax at 70.
What is $3,955.40?
True or False. Businesses generally aren't required to submit payroll reports to a third party
What is true? Exceptions are IRS, Workers compensation or a state agency.
Employers who send out more than one W-2 form to employees must file this type of form.
What is W-3 (Transmittal of Wage and Tax Statements)?
Adding deposits that have not been cleared or currently in transit leads to this.
What is your adjusted cash balance?