Individual employee earnings record
Individual employee earnings record is an accounting document that summarizes the total amount of wages paid and the deductions for the calendar year. It aids in preparing governmental reports. A new record is prepared for each employee each year.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Individual employee earnings record. An accounting document that summarizes the total amount of wages paid and the deductions for the calendar year. It aids in preparing governmental reports. A new record is prepared for each employee each year.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
