!Payroll Terminology \\ %%center %%small GO TO ||[A|1] [B|2] [C|3] [D|4] [E|5] [F|6] [G|7] [H|8] [I|9] [J|10] [K|11] [L|12] [M|13] [N|14] [O|15] [P|16] [Q|17] [R|18] [S|19] [T|20] [U|21] [V|22] [W|23] [X|24] [Y|25] [Z|26] %% %% !![A|#1] ---- ;Allocation: A means to determine benefit costs (employer contributions/portions). This can be done through one of two methods, either ‘Burden’ or ‘Fringe’. !![B|#2] ---- ;Burden: Refers to estimate percentages (e.g. 10% or 20%) for the ‘fringe’ costs against labor costs. If an interface file is to be created then the G/L file format must be defined in the Interface Formats ([IDIF]) form. !![C|#3] ---- ;Calendars: Schedules that define the periods of time, needed to plan and manage human resource activities such as monthly benefits administration, as well as financial information such as general ledger periods. !![D|#4] ---- ''No Terminology''\\ !![E|#5] ---- ''No Terminology''\\ !![F|#6] ---- ;Fair Labor Standards Act (FLSA):Establishes a federal minimum hourly wage that requires the payment of overtime compensation at one-and-half times an employee’s “regular rate” for all hours worked in excess of 40 per week. ;Fringe Allocation :Refers to the process of splitting ‘fringe’ costs (e.g. payroll employer tax and/or benefit expenses) to the cost centers in the same proportion that the earnings or time are being expensed. !![G|#7] ---- ;G/L Accounts: Short names or abbreviations that point to a more detailed account or account mask. ;General Ledger Company: The entity legally responsible for the accounting of the organization and that reports the organization in its general ledger and accounting journals. !![H|#8] ---- ''No Terminology''\\ !![I|#9] ---- ''No Terminology''\\ !![J|#10] ---- ''No Terminology''\\ !![K|#11] ---- ''No Terminology''\\ !![L|#12] ;Labor G/L: See Pre Payroll Distribution ;Load Pay Lines: The function that provides a means to import transactions into the system via an external data source. !![M|#13] ---- ''No Terminology''\\ !![N|#14] ---- ''No Terminology''\\ !![O|#15] ---- ''No Terminology''\\ !![P|#16] ---- ;Pay Components: Any identifiable components of a pay, or any item that needs to be stored or totaled. ;Pay Disbursement Process: Takes the results of one or more pay runs and creates the necessary tables that will be used in the check/deposit form printing, direct deposit interface file creation, processes, and related reporting. ;Pay Lines: Individual pay transactions of a pay header. ;Post Payroll Distribution: The costing of employee earnings, employee deductions, employer contributions, and employee net pays that have been calculated, and approved, for a pay run or several pay runs. (AKA - A Payroll G/L) ;Posting Date Method: Controls the accounting period to which general ledger entries are to be attributed, and by default, entries for a pay period are allocated based on the type of payment ;Pre Payroll Distribution: Used if it is necessary to account for labor costs prior to the processing of the payroll cycle, perhaps on a daily or weekly basis, and is usually needed to support a separate costing system or High Line’s Financial Cost Control application. (AKA Labor G/L) !![Q|#17] ---- ''No Terminology''\\ !![R|#18] ---- ''No Terminology''\\ !![S|#19] ---- ''No Terminology''\\ !![T|#20] ---- ''No Terminology''\\ !![U|#21] ---- ''No Terminology''\\ !![V|#22] ---- ''No Terminology''\\ !![W|#23] ---- ;Worker’s Compensation Authority: Collects money based on the payrolls of the employers in each state/province, the money collected goes into an ‘Accident Fund’, WC then pays compensation costs out from this fund. !![X|#24] ---- ''No Terminology''\\ !![Y|#25] ---- ''No Terminology''\\ !![Z|#26] ---- ''No Terminology''\\