Skip to content
How Can We Help?
< All Topics

What are some important payroll words to understand?

  1. Wages withdrawn from an employee’s salary to pay taxes, benefits, and other mandatory items or voluntary contributions 
  2. Gross salary: Before taxes and deductions, total pay
  3. Gross pay: After taxes and deductions are deducted from wages, take-home pay is calculated.
  4. All monetary and non-monetary payments, including the value of benefits, received by an employee are referred to as compensation.
  5. Paycheck stub: A summary document that shows the factors that were used to compute an employee’s pay for a specific period of time, such as the number of hours worked, the rates paid for those hours, tax and benefit deductions, and so on.