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

validity edit

Accounting; Payroll

shows whether or not data entered meet the requirements set forth by a company.

Warning or alert built into computer software; a system edit checks for errors and either corrects them or notifies the operator that something may be wrong; system edits generally check for values ...

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 ...

base period

Accounting; Payroll

When dealing with unemployment compensation, it generally consists of the first 4 of the last 5 quarters immediately preceding the claimant’s benefit year.

exempt employee

Accounting; Payroll

While this term can refer to anyone not covered as an employee under a certain law, it generally means those employees who are exempt from the minimum wage, overtime pay, and certain recordkeeping ...

temporary help agency employees

Accounting; Payroll

Workers hired through temporary help agencies who are screened and trained by the agency to provide services for client firms. They are employees of the agency, rather than the client firm.