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What is Year-End?

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Payroll and Tax: What is Year-End?

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In Payroll and Tax

Play video Pay Statement Basics

Pay Statement Basics

The pay statement, also known as a pay stub, includes the details of the employee’s pay for that pay period. Pay statement details help employees understand their pay and check for inaccuracies.

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Play video Deductions Overview

Deductions Overview

A deduction is a monetary amount subtracted from an employee’s taxable income that reduces the amount paid on a pay statement.

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Play video Earnings Overview

Earnings Overview

Earnings identify different types of employee compensation for services provided. Earnings can also include specific parameters such as accounting rules, tax laws, and reporting requirements.

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Play video Tax Reporting (United States)

Tax Reporting (United States)

After the proper amount of taxes are withheld for the employee and employer, it needs to be paid to the proper agencies. Federal income and insurance tax payments must be paid electronically through the electronic federal tax payment system.

1:24
Play video Garnishments

Garnishments

An involuntary garnishment, sometimes called a wage attachment, is a legal process in which an amount is collected directly from an employee’s wages to satisfy an unpaid debt.

1:42
Play video General Ledger

General Ledger

A general ledger is a journal containing accounting transactions related to a company’s assets, liabilities, equity, revenue, and expenses.

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