The knowledge employees possess, which can be enhanced.
100
What two elements of the payroll cycle must be updated?
Payroll Master File and Tax Rates and Deductions.
100
Many companies use what to record their arrival and departure time?
time card
100
Where is pay rate information obtained from?
payroll master file
100
Which industry may use cash payment instead of check or direct deposit?
construction
200
What is Intellectual capital?
The knowledge that's been captured and implemented in decision support systems, expert systems, or knowledge databases, so that it can be shared.
200
Changes to the Payroll Master File can be done very late. True or False?
False. Changes must be entered in a timely manner and reflected in the next pay period.
200
What is a way to track time for employees that earn a fixed salary?
supervisors informally monitor their presence
200
What information is listed on an earnings statement?
pay detail, current and year-to-date
200
Most employees are paid how?
check or direct deposit
300
What are the principal outputs of the payroll system?
Checks.
Employees receive individual paychecks.
A payroll check is sent to the bank to transfer funds from the company's regular account to its payroll account.
300
Tax Rates and payroll deductions do not need to be updated. True or False?
False
300
What is a way to motivate management and employees to cut costs and improve service?
give them stock
300
What information are listed on payroll register?
employee's gross pay, deductions, and net pay
300
Should checks be drawn on the company's regular bank account?
no
400
What are the five major sources of input to the payroll system?
HRM department, Employees, Various Departments, Government agencies, Insurance companies
400
Why shouldn't records of terminated employees be deleted immediately?
Because some year-end reports require data on compensation for all employees during the year.
400
What is the purpose of compensation boards?
design compensation plans, rather than having executives create their own.
400
What is listed on a deduction register?
miscellaneous voluntary deductions for each employee
400
Where are the approved disbursement voucher and payroll register sent?
cashier
500
Organizational success depends on what kind of employee?
Skilled and Motivated.
500
What information is provided by the HRM department when creating the Payroll Master File?
Information on new hires, terminations, changes in pay rates, and changes in discretionary withholding.
500
Accountants in compensation board can help by advising on which areas?
financial and tax effects of proposals
500
Labor costs are accumulated based on what?
codes on the job time ticket
500
How does each bank receive a record of the payroll deposits for that bank?