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

highly compensated employee (HCE)

Accounting; Payroll

In the context of certain fringe benefit plans, an employee who is an owner or officer of a business or whose salary exceeds a certain amount (for example, receives compensation in the top 20 percent ...

discrimination

Accounting; Payroll

In the context of employee benefits, favorable treatment of highly compensated employees under an employer’s plan.

key employee

Accounting; Payroll

In the context of fringe benefit plans, an officer or owner (of all or a significant part) of a business whose annual pay exceeds a certain amount. Many benefits offered by employers do not qualify ...

resident alien

Accounting; Payroll

In the context of payroll, an individual who passes either the “green card” or “substantial presence” test for determining resident status in the U.S. Resident aliens are generally subject to ...

application service provider (ASP)

Accounting; Payroll

Outsourcing arrangement where the outsourcing company hosts each application at its location and the client gains access through the Internet.

compensatory time

Accounting; Payroll

Paid time off granted to an employee for working extra hours. The Federal Wage-Hour law places severe restrictions on the use of compensatory time to avoid paying overtime, although special ...

time-and-a-half

Accounting; Payroll

Payment of 1½ times an employee’s regular rate of pay for hours worked over 40 in a workweek, as required by the Federal Wage-Hour Law (for non-exempt employees only).