Term
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Definition
| A report listing the miscellaneous voluntary deductions for each employee. |
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Term
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Definition
| A report listing the amount of gross pay, deductions, and net pay for the current period; the report also lists year-to-date totals for each category. |
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Term
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Definition
| A plan under which each employee receives some minimum coverage in medical insurance and pension contributions, plus additional benefit "credits" that can be used to acquire extra vacation time or additional health insurance. These plans are sometimes called cafeteria-style benefit plans because they offer a menu of options. |
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Term
| Human Resources Management (HRM)/Payroll Cycle |
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Definition
| The recurring set of business activities and related data processing operations associated with effectively managing the employee workforce. |
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Term
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Definition
| A general ledger account used to check the accuracy and completeness of recording payroll costs and their subsequent allocation to appropriate cost centers. |
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Term
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Definition
| A listing of payroll data for each employee for a payroll period. |
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Term
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Definition
| An organization that maintains the payroll master file for each of its clients and performs their payroll processing activities for a fee. |
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Term
| Professional Employer Organization (PEO) |
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Definition
| An organization that processes payroll and also provides human resource management services such as employee benefit design and administration. |
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Term
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Definition
| A document that records the employee's arrival and departure times for each work shift. The time card records the total hours worked by an employee during a pay period. |
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