Chapter 3 Flashcards
Gross pay
The amount of wages paid to employee based on work performed, prior to any deductions for mandatory or voluntary deductions.
The amount of wages paid to employee based on work performed, prior to any deductions for mandatory or voluntary deductions.
Gross Pay
Net Pay
An employees wages or salary less all mandatory and voluntary deductions
An employees wages or salary less all mandatory and voluntary deductions
Net Pay
Piece rate
Employee compensation based on production of unit or completion of an action during a specified time period.
Employee compensation based on production of unit or completion of an action during a specified time period
Piece rate
2 terms in payroll accounting
Gross pay and net pay
Tipped wage
A base wage is paid to employees who earn the majority of their wage from costumer tips
A base wage is paid to employees who earn the majority of their wage from costumer tips
Tipped wage
Tipped credit
The difference between tipped employees minimum wage and federal minimum wage
The difference between tipped employees minimum wage and federal minimum wage
Tipped credit
IRS form 4070
Is due monthly for tipped employees record earned tips exceeding over $20 a month
Time cards
A record of the time worked during a period for an individual employee
A record of the time worked during a period for an individual employee
Time cards
