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ACCTG 320 Key-Terms
Chapter 13
9
Accounting
Undergraduate 3
06/01/2011

Additional Accounting Flashcards

 


 

Cards

Term
Deduction Register
Definition
A report listing the miscellaneous voluntary deductions for each employee.
Term
Earnings Statement
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.
Term
Flexible Benefit Plans
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.
Term
Human Resources Management (HRM)/Payroll Cycle
Definition
The recurring set of business activities and related data processing operations associated with effectively managing the employee workforce.
Term
Payroll Clearing Account
Definition
A general ledger account used to check the accuracy and completeness of recording payroll costs and their subsequent allocation to appropriate cost centers.
Term
Payroll Register
Definition
A listing of payroll data for each employee for a payroll period.
Term
Payroll Service Bureau
Definition
An organization that maintains the payroll master file for each of its clients and performs their payroll processing activities for a fee.
Term
Professional Employer Organization (PEO)
Definition
An organization that processes payroll and also provides human resource management services such as employee benefit design and administration.
Term
Time Card
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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