Payroll

Payroll

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

Contributors in Payroll

Payroll

Retirement plan that uses a formula (generally based on an employee’s salary and length of service) to calculate an employee’s retirement benefits and is not funded by employee contribution to the ...

defined contribution plan

Accounting; Payroll

Retirement plan with benefits determined by the amount in an employee’s account at the time of retirement; depends on the amount of the contributions as well as the gains or losses on the account. ...

deemed substantiation

Accounting; Payroll

Safe-harbor rules under which IRS requirements regarding the substantiation of amounts spent on employee business expenses are considered to have been met, e.g., per diem allowances.

batch

Accounting; Payroll

Sample or limited amount of all the data being processed.

employee verification service (EVS)

Accounting; Payroll

Service offered by the Social Security Administration allowing employers to verify the accuracy of their employee’ social security numbers by sending in a paper listing, magnetic tape or diskette of ...