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OM Unit 4
Office Mgt Unit 4 vocabulary
| Question | Answer |
|---|---|
| Bank reconciliation | bringing into agreement a bank statement with a party’s cash account records |
| Cash | refers both to actual cash (coins and bills), checks, money orders, and funds in checking accounts in a banking institution |
| Deduction | an item that reduces gross pay earned by an employee |
| Deposit | the placement of cash (coins, bills, checks) into an account |
| Electronic Funds Transfer (EFT) | the use of a computer and a telecommunications network to transfer funds from one party to another |
| Employee earnings record | a business form used to record details affecting payments made to an individual employee |
| Gross pay | the salary paid to an employee before any deductions are withheld |
| Hourly wage | the amount of money an employee earns for each hour of work |
| Net pay | the total earnings paid to an employee after payroll taxes and other deductions are withheld |
| Payroll register | a business form used to record payroll information on all employees for a pay period |
| Petty cash record | a form used in a petty cash system to record all disbursements and receipts |
| Petty cash system | a system established by a business that keeps a small amount of cash on hand for making small payments |
| Regular pay | an amount paid to an employee for performing work excluding overtime pay and commission earned |
| Restrictive endorsement | an endorsement found on the back of a check restricting further transfer of a check’s ownership |
| Time card | a card that is required of employees to record their arrival and departure times for payroll purposes |
Created by:
judyshipp
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