is a list of employees and the payments due to each employee for a specific pay period

is the amount of time over which an employee is paid

responsible for preparing the payroll

the total amount of money an employee earns in a pay period

is a fixed amount of money paid to an employee for each pay period

is an amount of money paid to an employee at a specified rate per hour worked

is a record of the times an employee arrives at work and leaves each day

electronic badge readers

computer technology to track employee arrival and departure times

is an amount paid to an employee based on a percentage of the employee's sales

manufacturing companies pay employees a specific amount of money for each item the employee produces

set by Fair Labor Standards Act of 1938 is 1.5 times the employees's regular hourly pay rate

an amount subtracted from gross earning

withholding allowance

reduces the amount of income tax to be withheld

is a popular voluntary payroll deduction - employee doesn't pay income tax on earnings contributed to the plan until the money is withdrawn from it, usually after age 59 1/2

is a form that summarizes info about employee's earnings for each pay period

is the amount left after total deductions have been subtracted from gross earnings

is the net pay electronically in the employee's personal bank account

employee's earnings record

contains all of the payroll info related to an employee

are the employee's year-to-date gross earnings

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Chapter 12

Term	Definition
payroll	is a list of employees and the payments due to each employee for a specific pay period
pay period	is the amount of time over which an employee is paid
payroll clerk	responsible for preparing the payroll
gross earnings	the total amount of money an employee earns in a pay period
salary	is a fixed amount of money paid to an employee for each pay period
wage	is an amount of money paid to an employee at a specified rate per hour worked
time card	is a record of the times an employee arrives at work and leaves each day
electronic badge readers	computer technology to track employee arrival and departure times
commission	is an amount paid to an employee based on a percentage of the employee's sales
piece rate	manufacturing companies pay employees a specific amount of money for each item the employee produces
overtime rate	set by Fair Labor Standards Act of 1938 is 1.5 times the employees's regular hourly pay rate
deduction	an amount subtracted from gross earning
withholding allowance	reduces the amount of income tax to be withheld
401(k) plan	is a popular voluntary payroll deduction - employee doesn't pay income tax on earnings contributed to the plan until the money is withdrawn from it, usually after age 59 1/2
payroll register	is a form that summarizes info about employee's earnings for each pay period
net pay	is the amount left after total deductions have been subtracted from gross earnings
direct deposit	is the net pay electronically in the employee's personal bank account
employee's earnings record	contains all of the payroll info related to an employee
accumulated earning	are the employee's year-to-date gross earnings

Created by: justinjurado

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