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.
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.
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.
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 Wiki’s Financial Cost Control application. (AKA Labor G/L)
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.
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