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101 Cards in this Set
- Front
- Back
- 3rd side (hint)
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application form
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personnel record which gives the applicant an opportunity to provide complete information as to personal qualifications, training, and experience.
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CH 1: The Need for Payroll and Personnel Records
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change in payroll rate form
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document that notifies the proper departments of a change in the employee’s rate of remuneration.
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CH 1: The Need for Payroll and Personnel Records
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disability benefits
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payments to employees who are absent from their jobs because of illness, accident, or disease not arising out of their employment.
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CH 1: The Need for Payroll and Personnel Records
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employee history record
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continuous record of the relationship between the employer and the employee.
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CH 1: The Need for Payroll and Personnel Records
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employee’s earnings record
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payroll record for each employee that is used to provide complete information about the accumulated earnings of each employee.
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CH 1: The Need for Payroll and Personnel Records
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executive orders
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regulations issued by the federal government that ban, in employment on government contracts, discrimination based on race, color, religion, sex, or national origin.
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CH 1: The Need for Payroll and Personnel Records
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fair employment practices
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laws that deal with discrimination on the basis of age, race, color, religion, gender, or national origin as a condition of employment.
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CH 1: The Need for Payroll and Personnel Records
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Form I-9, Employment Eligibility Verification
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form that lists the documents an employee must furnish to the employer; they identify the employee and, if an alien, verify authorization to work in the United States.
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CH 1: The Need for Payroll and Personnel Records
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Form W-2, Wage and Tax Statement
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form used by the employer to report the amount of wages paid each worker in the course of the trade or business of the employer.
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CH 1: The Need for Payroll and Personnel Records
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hiring notice
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form that is sent to the payroll department so that new employees are properly added to the payroll.
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CH 1: The Need for Payroll and Personnel Records
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human resources system
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those procedures and methods related to recruiting, selecting, orienting, training, and terminating personnel.
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CH 1: The Need for Payroll and Personnel Records
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income tax
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levy on the earnings of most employees that is deducted from their gross pay.
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CH 1: The Need for Payroll and Personnel Records
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investigative consumer report
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study done by a consumer reporting agency on a job applicant or current employee concerning the individual’s character, general reputation, and mode of living.
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CH 1: The Need for Payroll and Personnel Records
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payroll accounting system
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those procedures and methods related to the disbursement of pay to employees.
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CH 1: The Need for Payroll and Personnel Records
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payroll register
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multicolumn form used to assemble and summarize the data needed at the end of each payroll period. It lists all employees who earned remuneration, the amount of remuneration, the deductions, and the net amount paid.
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CH 1: The Need for Payroll and Personnel Records
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prehire inquiries
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questions asked in the employment interview and on application forms, resume’s of experience or education required of an applicant, and any kind of written testing.
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CH 1: The Need for Payroll and Personnel Records
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reference inquiry form
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document used by the employer to investigate the references given on the application blank by the job applicant.
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CH 1: The Need for Payroll and Personnel Records
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requisition for personnel
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document submitted by a department head to the Human Resources Department asking for additional or replacement employees.
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CH 1: The Need for Payroll and Personnel Records
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vesting
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the process of conveying to employees the right to share in a retirement fund in the event they are terminated before the normal retirement age.
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CH 1: The Need for Payroll and Personnel Records
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workers’ compensation insurance
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protection provided to employees and their dependents against losses due to injury or death incurred during employment.
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CH 1: The Need for Payroll and Personnel Records
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biweekly
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every two weeks.
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CH 2: Computing Wages and Salaries
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commission
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stated percentage of revenue paid an employee who transacts a piece of business or performs a service.
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CH 2: Computing Wages and Salaries
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common-law relationship
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the state existing when the employer has the right to control both what work will be done and how it will be done.
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CH 2: Computing Wages and Salaries
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continental system
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method of recording time on time cards in which the day is divided into one 24-hour period, with time running from 12 midnight to 12 midnight.
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CH 2: Computing Wages and Salaries
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discretionary bonus
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a bonus not agreed on, announced, or promised before payment.
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CH 2: Computing Wages and Salaries
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domestic service
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services of a household nature performed in or about a private home of the person who employs the domestic.
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CH 2: Computing Wages and Salaries
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employee
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any individual performing services for an employer in the legal relationship of employer and employee.
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CH 2: Computing Wages and Salaries
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enterprise coverage
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applied to determine if employees of an enterprise are covered under the provisions of the FLSA. The test criteria are at least two employees engaged in interstate commerce and an annual gross sales volume of at least $500,000.
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CH 2: Computing Wages and Salaries
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exempt employees
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workers exempt from some, or all, of the FLSA requirements such as minimum wages, equal pay, and overtime pay.
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CH 2: Computing Wages and Salaries
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gross earnings
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total regular earnings and total overtime earnings, also known as gross pay.
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CH 2: Computing Wages and Salaries
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individual employee coverage
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applied to determine if the FLSA covers an employee. The test is that the employee either engages in interstate commerce or produces goods for such commerce.
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CH 2: Computing Wages and Salaries
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nondiscretionary bonus
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a bonus normally based on hours worked, units produced, production efficiency, or work quality.
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CH 2: Computing Wages and Salaries
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overtime premium
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method of calculating overtime pay by multiplying the total hours worked (including overtime hours) by the regular rate of pay and then multiplying the overtime hours by one-half the regular hourly rate.
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CH 2: Computing Wages and Salaries
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piece-rate system
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compensation plan under which workers are paid according to their output (units or pieces produced).
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CH 2: Computing Wages and Salaries
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principal activities
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those tasks employees must perform for the employer.
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CH 2: Computing Wages and Salaries
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profit-sharing plans
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compensation plans in which employer shares with employees a portion of the profits of the business.
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CH 2: Computing Wages and Salaries
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salary
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remuneration paid on a monthly, biweekly, semimonthly, or yearly basis.
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CH 2: Computing Wages and Salaries
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semimonthly
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twice a month.
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CH 2: Computing Wages and Salaries
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time card
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form on which employee’s time worked is recorded manually by the worker or automatically by a time clock.
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CH 2: Computing Wages and Salaries
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time sheet
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form that indicates an employee’s time of arrival and time of departure.
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CH 2: Computing Wages and Salaries
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tip
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gift or gratuity given by a customer in recognition of service performed for him or her.
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CH 2: Computing Wages and Salaries
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tipped employee
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one engaged in an occupation in which tips of more than $30 a month are customarily and regularly received.
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CH 2: Computing Wages and Salaries
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wages
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remuneration paid on an hourly, weekly, or piece-work basis.
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CH 2: Computing Wages and Salaries
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workweek
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fixed and regularly recurring period of 168 hours—7 consecutive 24-hour periods.
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CH 2: Computing Wages and Salaries
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Consolidated Omnibus Budget Reconciliation Act (COBRA)
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legislation that gives qualified terminated employees the option of continued coverage (up to nine months) under the company’s group health insurance plan.
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CH 3: Social Security Taxes
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educational assistance
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the expenses that an employer pays for an employee’s education, such as tuition, fees, and payments for books, supplies, and equipment.
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CH 3: Social Security Taxes
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employer
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any person or organization who employs one or more individuals for the performance of services, unless such services or employment are specifically excepted by law.
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CH 3: Social Security Taxes
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employment
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any service performed by employees for their employer, regardless of the citizenship or residence of either.
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CH 3: Social Security Taxes
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independent contractors
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persons who follow an independent trade, business, or profession where services are offered to the public.
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CH 3: Social Security Taxes
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lookback period
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the block of time, consisting of four quarters beginning July 1 of the second preceding year and ending June 30 of the prior year, used to determine if an employer is a monthly or a semiweekly depositor.
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CH 3: Social Security Taxes
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monthly depositor
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one who reported employment taxes of $50,000 or less for the four quarters in the lookback period.
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CH 3: Social Security Taxes
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person
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an entity defined by law as an individual, a trust or estate, a partnership, or a corporation.
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CH 3: Social Security Taxes
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safe harbor rule
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rule that determines if an employer has satisfied the deposit obligations by (a) having no shortfall (under deposit) that exceeds the greater of $100 or 2 percent of the amount of employment taxes required to be deposited and (b) having deposited the shortfall on or before the shortfall make-up date.
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CH 3: Social Security Taxes
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self-employment income
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the net earnings derived by individuals from a business or profession carried on as a sole proprietorship or as a partnership.
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CH 3: Social Security Taxes
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semiweekly depositor
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one who reported employment taxes of more than $50,000 for the four quarters in the lookback period.
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CH 3: Social Security Taxes
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shortfall
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the excess of the amount of employment taxes required to be deposited over the amount deposited on or before the last date prescribed for the deposit.
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CH 3: Social Security Taxes
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sick pay
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any payment made to individuals because of their personal injury or sickness that does not constitute wages.
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CH 3: Social Security Taxes
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taxable wage base
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the maximum amount of wages during a calendar year that is subject to a particular tax, such as FICA.
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CH 3: Social Security Taxes
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annualizing wages
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method of determining amount of income taxes to be withheld by multiplying the wages for one payroll period by the number of periods in the year, determining the annual amount of withholding required on the total wages, and dividing the annual withholding by the number of payroll periods.
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CH 4: Income Tax Withholding
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Backup withholding
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amount of income tax withheld by payers of taxable interest, dividends, and certain other payments made to payees who have failed to furnish the payers with correct identification numbers.
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CH 4: Income Tax Withholding
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de minimis fringe benefit
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any property or service the value of which is so small that accounting for it would be unreasonable or impractical.
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CH 4: Income Tax Withholding
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defined contribution plan
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a retirement plan that provides future benefits based solely on the amount paid by each employee and employer into the account, plus investment gains.
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CH 4: Income Tax Withholding
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gross-up supplementals
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gross-up amount of payment so that after the appropriate payroll taxes are withheld, the net amount left is equal to the original intended payment.
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CH 4: Income Tax Withholding
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information returns
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forms upon which an employer reports compensation paid to individuals who are not employees.
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CH 4: Income Tax Withholding
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part-year employment
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another method of calculating the withholding of federal income tax from an employee’s pay.
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CH 4: Income Tax Withholding
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percentage method
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method of determining amount of income taxes to be withheld using Table of Allowance Values and Percentage Method Withholding Table.
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CH 4: Income Tax Withholding
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personal allowance
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a deduction allowed in computing taxable income; also known as a personal exemption.
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CH 4: Income Tax Withholding
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quarterly averaging
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method of determining the amount of income taxes to be withheld by estimating the employee’s average wages for the calendar quarter, computing an average payment, and withholding an amount based on the average payment.
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CH 4: Income Tax Withholding
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reciprocal agreement
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arrangement entered into by two or more states whereby the resident of one state working in another state will not be subject to the withholding of income taxes by the state in which the person is employed if that state has entered into a similar agreement with the employee’s resident state.
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CH 4: Income Tax Withholding
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special withholding allowance
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allowance claimed by employees so that wages which are below the level subject to the income tax will not be subject to withholding.
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CH 4: Income Tax Withholding
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standard deduction
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an amount of money used to reduce an individual’s adjusted gross income in computing taxable income.
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CH 4: Income Tax Withholding
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supplemental wage payments
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additional compensation such as vacation pay, bonuses, and commissions paid to employees.
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CH 4: Income Tax Withholding
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wage and tax statements
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statements furnished by employers to their employees informing them of the wages paid during the calendar year and the amount of taxes withheld from those wages.
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CH 4: Income Tax Withholding
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wage-bracket method
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method of determining amount of income taxes to be withheld by reading amount from tables provided by the IRS, which take into consideration length of payroll period, gross earnings, marital status, and number of withholding allowances claimed.
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CH 4: Income Tax Withholding
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wages
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for withholding purposes, includes the total compensation paid to employees for services.
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CH 4: Income Tax Withholding
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constructively paid
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remunerations that are credited to the account of, or set apart for, an employee so that they may be drawn upon at any time, even though they are not actually possessed by the employee.
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CH 5: Unemployment Compensation Taxes
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contribution report
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quarterly tax return filed with the state by the employer that provides a summary of the wages paid during the period and shows the computation of the tax or contribution.
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CH 5: Unemployment Compensation Taxes
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dismissal payments
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amounts paid by employers to workers who have been separated from employment; also known as payments in lieu of notice, separation pay, or terminal leave pay.
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CH 5: Unemployment Compensation Taxes
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experience rating
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method by which employer contribution payments may be adjusted because of a favorable employment record; also known as merit rating.
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CH 5: Unemployment Compensation Taxes
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interstate employee
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an individual who works in more than one state.
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CH 5: Unemployment Compensation Taxes
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merit rating
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method by which employer contribution payments may be adjusted because of a favorable employment record; also known as experience rating.
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CH 5: Unemployment Compensation Taxes
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negative-balance employers
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those whose reserve accounts have been charged for more benefits paid out than contributions paid in to the fund.
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CH 5: Unemployment Compensation Taxes
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partial unemployment
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employment by the individual’s regular employer on a reduced scale because of lack of work.
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CH 5: Unemployment Compensation Taxes
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partial unemployment notices
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forms completed by the employer and given to partially unemployed workers so that supplemental unemployment benefits may be obtained.
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CH 5: Unemployment Compensation Taxes
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pooled-fund laws
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unemployment insurance system wherein the cost of unemployment benefits is spread among all employers in a particular state.
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CH 5: Unemployment Compensation Taxes
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positive-balance employers
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those who have built up a balance in their reserve accounts (contributions paid in less benefits charged).
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CH 5: Unemployment Compensation Taxes
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reciprocal arrangements
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agreements between states to provide unemployment insurance coverage and payment of benefits to interstate workers.
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CH 5: Unemployment Compensation Taxes
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reserve-ratio formula
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experience-rating plan used in most states, based on: Contributions less Benefits Paid ÷ Average Payroll.
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CH 5: Unemployment Compensation Taxes
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separation report
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report that provides a wage and employment record of the separated employee and the reason for leaving.
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CH 5: Unemployment Compensation Taxes
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status report
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initial statement filed by new employers with their state unemployment office, which determines their liability to make contributions into the state unemployment compensation fund.
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CH 5: Unemployment Compensation Taxes
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Title XII advances
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funds borrowed from the federal government by states who, due to financial difficulties, cannot pay their unemployment compensation benefits.
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CH 5: Unemployment Compensation Taxes
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voluntary contributions
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payments deliberately made by employers to their state funds in order to qualify for a lower unemployment compensation tax rate.
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CH 5: Unemployment Compensation Taxes
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wage information reports
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statements filed by the employer, usually with the quarterly contribution report, which lists employee names, social security numbers, taxable wages, taxable tips, state in which worker was employed during the reported quarter, and employer’s federal account number.
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CH 5: Unemployment Compensation Taxes
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business expense
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cost of operating a business that is deductible by the employer for federal income tax purposes.
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CH 6: Analyzing and Journalizing Payroll Transactions
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check-off system
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withholding of union dues from employees’ wages by the employer.
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CH 6: Analyzing and Journalizing Payroll Transactions
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disposable earnings
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the earnings remaining after withholding for federal and state income taxes, FICA taxes, state unemployment and disability taxes, and deductions required for state employees’ retirement systems.
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CH 6: Analyzing and Journalizing Payroll Transactions
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electronic funds transfer system (EFTS)
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system whereby the employer transfers employees’ net pays to employees’ bank accounts with electronic equipment rather than issuing paychecks.
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CH 6: Analyzing and Journalizing Payroll Transactions
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electronic paystubs
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paystub information made available through a secured Web site, kiosk, or interactive voice response system.
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CH 6: Analyzing and Journalizing Payroll Transactions
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garnishment
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legal or equitable procedure by means of which a portion of the wages of any person must be withheld for payment of a debt.
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CH 6: Analyzing and Journalizing Payroll Transactions
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group insurance
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life insurance program for employees at a low cost.
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CH 6: Analyzing and Journalizing Payroll Transactions
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journal entries
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transactions recorded in the accounting system of a business.
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CH 6: Analyzing and Journalizing Payroll Transactions
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