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term 102 unit 2
payroll
| Question | Answer |
|---|---|
| Gross Earning | The total amount earned for work provided |
| Federal Depository | Money withheld from the employee's salary and deposited to the employers tax account |
| Net Earning | Compensation for services minus any deductions |
| FICA | Social Security Tax |
| Endorser | Person transferring ownership of the check by signature |
| Payroll deductions | Amounts for taxes and social security which are withheld from every emplyee's pay |
| Bank statement | Statement sent by then bank to customer showing the status of the account. |
| Salary | Compensation for the services or work provided for a specific period of time |
| Reconciliation | Balancing of a checkbook with a bank statement |
| Fair debt collection act | The threat to take action that cannot be taken legally |
| Safe deposit box | A locked fire proof box used to hold valuable |
| Third party checks | made out by an unknown individual to the patient |
| Blank Endorsement | check made payable to the bearer, the payee signs their own name |
| Special Endorsement | words specifying the person to whom the check is payable |
| Accounts Receivable ratio | measures how fast outstanding account are paid |
| W4 | Form filled out by an employee authoring payroll deductions |
| Cashier's Check | a bank signed by the bank for an amount drawn against the persons own account |
| Statement | notice of amount owed |
| Money order | purchased at a store for the face value, plus a fee used like a check |
| NSF | Non Sufficient Funds (not enough money in the bank to cover the check) |
Created by:
nataliecapel
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