Payroll

Payroll

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

Contributors in Payroll

Payroll

An application that gives and employee access to personal and company data and allows the employee to review, print out, and/or update certain portions of that data. It can be accomplished by phone, ...

Web-enabled applications

Accounting; Payroll

An application that use the Internet as another means of accessing an organization’s data and the HRMS logic itself.

Fluctuating workweek

Accounting; Payroll

An arrangement between an employer and a nonexempt employee to pay the employee a fixed weekly salary even though the employee’s hours may vary from week to week.

Flexible spending account (FSA)

Accounting; Payroll

An arrangement that allows an employee to have pretax dollars deducted from wages and put into an account to pay for health insurance deductibles and co-payments and dependent care assistance (there ...

Medical savings accounts (MSA)

Accounting; Payroll

An arrangement through which an employer or an employee (but not both) can put tax-preferred contributions into an account for the payment of health care deductibles under a high deductible health ...

Cash or deferred arrangement (CODA)

Accounting; Payroll

An arrangement under a retirement plan that allows employers to either receive cash or have the employer contribute an equivalent amount to the plan.

Split-dollar life insurance

Accounting; Payroll

An arrangement where an employer pays that part of an annual life insurance premium representing the increase in the cash surrender value of the policy during the year, while the employee pays the ...