Payroll Vocabulary Review

Front

The total amount paid by a business for an employee's work, earned by a wage, salary, or commission.

Back

Total Earnings

Front

A qualified retirement plan sponsored by an employer.

Back

401(k)

Front

Any amount withheld from a employee's gross earnings.

Back

Payroll Deduction

Front

The payment of an employee's net pay using electronic funds transfer.

Back

Direct Deposit

Front

A fixed annual sum of money divided among equal pay periods.

Back

Salary

Front

A federal tax paid for old-age, survivors, and disability insurance.

Back

Social Security Tax

Front

An accounting form that summarizes the earnings, deductions, and net pay of all employees for one pay period.

Back

Payroll Register

Front

The total amount earned by all employees for a pay period.

Back

Payroll

Front

Taxes based on the payroll of a business.

Back

Payroll Taxes

Front

A device used to record the dates and times of every employee's arrivals and departures.

Back

Time Clock