Payroll

Payroll

Of or relating to the financial record of employees' salaries, wages, bonuses, net pay, and deductions.

Industry: Accounting

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Payroll

Arrears

Accounting; Payroll

What happens when there is not enough net pay to cover all of an employee’s deductions, e.g., pay is docked; gross pay is lower than normal and cannot cover all deductions. Not all deductions are ...

Annual wage reporting (AWR)

Accounting; Payroll

Social Security Administration’s system of recording wages reported annually by employers on Form W-2.

Special groups of workers who may qualify as common law employees but are treated under the law as independent contractors (e.g., qualified real estate agents and direct sellers) whose compensation ...

Taxpayer identification number (TIN)

Accounting; Payroll

Social security number or employer identification number, which serves as the taxpayer’s account number with the IRS.

Wage orders

Accounting; Payroll

State agency directives that set wage and hour standards, usually for specific industries.

Paycard

Accounting; Payroll

Stored-value debit cards funded by employers with employees' pay. Workers can access their pay by using the cards to withdraw cash or make purchases.

Withholding

Accounting; Payroll

Subtracting amounts from an employee’s wages for taxes, garnishments or levies, and other deductions (e.g., medical insurance premiums, union dues). These amounts are then paid over to the ...