accounting :thumbsUp:
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12 Terms
The money paid for employee services
Salary
The period covered by a salary payment
Pay Period
The total amount earned by all employees for a pay period
Payroll
The total pay due for a pay period before deductions
Total earnings
Taxes based on the payroll of a business
Payroll taxes
A deduction from total earnings for each person legally supported by a tax payer including the employee
Withholding allowance
Federal tax paid for old-age, survivors, and disability insurance
Social Security tax
A federal tax for hospital insurance
Medicare tax
The maximum of earnings on which a tax is calculated
tax base
A business form used to record payroll information
Payroll register
The total earnings paid to an employee after payroll taxes and deductions
Net pay
A business form used to record details affecting payments to an employee
Employee earnings record