ACO 1806 Payroll Accounting Chapter 1 – Flashcards

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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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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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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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Employee History Record
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continuous record of the relationship between the employer and the employee.
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Employees 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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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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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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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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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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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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Human Resources System
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those procedures and methods related to recruiting, selecting, orienting, training, and terminating personnel.
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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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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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Payroll Accounting System
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those procedures and methods related to the disbursement of pay to employees.
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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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Pre-Hire Inquiries
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questions asked in the employment interview and on application forms, resumes of experience or education required of an applicant, and any kind of written testing.
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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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Requisition for Personnell
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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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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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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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Payroll System
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The business operation that is almost completely governed by State and Federal laws is
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The Federal Insurance Contributions Act (FICA)
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sets a tax on both employees and employers.
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The Fair Labor Standards Act (FLSA) deals with
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the minimum wage.
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The American Payroll Association
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offers membership to anyone interested in Payroll.
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Title VII of the Civil Rights Act of 1964
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prohibits discrimination based on race, religion, gender or national origin.
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The Americans with Disabilities Act (ADA)
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prohibits discrimination against qualified people who are disabled.
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The Davis-Bacon Act of 1931
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the law requiring a minimum wage be set by the Secretary of Labor
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The Employment Retirement Income Security Act of 1974 (ERISA)
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was designed to ensure employees covered by pension plans receive benefits.
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The Family Leave and Medical Leave Act of 1993 (FMLA)
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grants unpaid leave for a family or medical emergency.
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Workers' Compensation
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provides benefits to employees due to job related injuries.
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The Affordable Care Act of 2010
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provides a tax credit to small employers who offer health coverage to employees.
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The Immigration Reform and Control Act of 1986 (IRCA)
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prohibits employers from hiring aliens unauthorized to work in the United States.
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E-Verify
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allows employers to check employment eligibility.
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Outsourcing payroll
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may be an affordable option for small businesses.
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The Payroll Register
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provides information for preparing federal, state and local reports.
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