2 Terms
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Payroll
Of or relating to the financial record of employees' salaries, wages, bonuses, net pay, and deductions.
Industry: Accounting
Add a new termContributors in Payroll
Payroll
Circular e
Accounting; Payroll
IRS Publication 15, Employer’s Tax Guide. Contains the basic rules, guidelines, and instructions for withholding, depositing, reporting, and paying federal employment taxes.
Internal revenue bulletin (IRB)
Accounting; Payroll
Issued regularly (weekly except during the summer) by the IRS, the IRB contains recently issued regulations, revenue procedures, and other agency announcements.
Matching principle
Accounting; Payroll
Matching revenue earned during an accounting period with the expenses incurred in generating the revenue.
Taxable wage base
Accounting; Payroll
Maximum amount of employee compensation subject to Social Security and unemployment taxes.
Internal control
Accounting; Payroll
Measures used by a company to safeguard company assets by preventing errors, waste, embezzlement, and fraud.
Online wage reporting service (OWRS)
Accounting; Payroll
Method for reporting Form W-2 information electronically to the Social Security Administration.
