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Payroll Records
Calculating Gross Earnings
Calculating Gross Earnings
Payroll Deductions
Payroll Records
100
What is the list of the employees and the payments due to each employee for a specific pay period?
Payroll
100
What is A fixed amount of money paid to an employee each pay period?
Salary
100
What is an amount paid to an employee based on sales?
Commission
100
What is the amount subtracted from gross earnings called?
Deductions
100
What is a form which summarizes imformation about an employees' earnings for each pay period?
Payroll Register
200
What is the amount of time over which an employee is played?
Pay Period
200
What is the total amount of money an employee earns in a pay period?
Gross Earnings
200
What is the amount in which an employee is paid for working over forty hours?
Overtime Pay
200
What is a federal government tax payed based on a persons annual income?
Federal Income Tax
200
What is the amount left after total deductions are subtracted from gross earnings?
Net Pay
300
Who is the employee in which a business hires who is responsible for preparing payroll?
Payroll Clerk
300
What is an amount of money paid to an employee at a specific rate per hour worked?
Wage
300
How many times more then normal pay is overtime?
one and a half
300
What is a form in which a personss marital status,allowences claimed by employee, and gross earnings are recorded?
W-4 form
300
What is it called when net pay is deposited straight into an employees personal bank account?
Direct deposit
400
What is the first of two well designed payroll systems goals?
The collection and procession of all the information needed to prepare and issue payroll Clerks.
400
What is a method used where contain employee information in order to transfer information about employees work hours in order to electronically keep track of records?
Electronic Badger readers
400
What is the amount of hours after which you are paid overtime?
Forty
400
What is one of the circumstances in which a person does not have to pay Federal Income Taxes? (Just name one)
a.)Did not have a federal income tax liability the previous year. b.) Expects no tax liability this year. c.)Has an income of $ 700 or less including non wage income such as interest on savings accounts. d.) Cannot be claimed as a dependent on someone else's tax return.
400
What is the employee's year-to-date gross earnings?
Accumulated Gross earnings
500
What is he second of the two goals for a well designed payroll system?
The generation of payroll records needed for accounting purposes and for reporting to government agencies, management and others.
500
What is a card used in order to accurately record worked times of which an employee arrives and leaves work each day?
Time Card
500
What is another way in which employers divide hours to make it easier when employees don't work a full hour?
Quarters of an hour
500
What is the word stamped on an an employees W-4 form so that an employer does not withhold federal income taxes?
Exempt
500
An employer must keep this for each of his employees.
Employee's earning records