BUSINESS HIGH SCHOOL ACCOUNTING I

1
BUSINESSHIGH SCHOOL ACCOUNTING I
Employee Earnings Record
Voluntary Deductions
Federal Income Tax
Social Security Tax
Payroll Records
Payroll Register
Payroll Accounting Chapter 12
Payroll Deductions
State and Local Income Tax
Overtime
Form W4
Computing Gross Pay
Hourly Wage
Content Vocabulary Accumulated
Earnings Commission Deduction Withholding
Allowance
Salary
Commission

• Accounting 1 Learning Expectations-Chapter 12
• Gross Pay is the amount an employee earns before
  deductions.
• Withholdings from gross earnings are called
  deductions.
• Net Pay is the amount of money actually received
  by the employee.
• A Payroll Register summarizes information for all
  employees in a single pay period.
• The Employees Earnings Record contains all
  information for a single employee.