Ch 56 Notes Flashcards
(51 cards)
A key written communication tool in the medical office is?
Policy and procedures manual
The basics of hiring a successful employee include?
Discussing policies and procedures early
Money from the petty cash fund can be used for what?
Postage due fees and holiday decorations
The usual amount of money in a petty cash account is?
$50
An employee payroll information sheet should include?
Social Security Number
A pay schedule is?
Shows how often an employee is paid
The number of dependence an employee is claiming is found on the?
Form W-4, employees withholding allowance certificate
A dependent is?
People who are financially dependent on the employee.
A payment of a set amount of money per pay period is what?
Salary
A commission is?
A percentage of the amount an employee earns for the employer.
What position is usually paid by commission?
A sales Person
The total amount of income earned before deductions is referred to as the?
Gross earnings
If an employee earns $8 an hour and works 35 hours per week the employees gross weekly earnings are?
280
The Fair Labor Standards Act primarily affect?
Employees who earned hourly wages
Which of the following is mandated for hourly employees by the Fair Labor Standard Acts?
Time and a half for all hours worked beyond the normal 8 hours in a regular work day
An example of voluntary deduction from an employee’s paycheck is?
Health insurance premium payments
An example of a required deduction from an employee paycheck is?
FICA tax
Employees W4 form should be?
Updated yearly
A payroll register?
Summarizes vital information about all employees and their earnings
How often will you deposit federal employment taxes for the practice?
According to the federal tax deposit schedule
What is the name of the EFT program through which businesses submit federal income taxes and FICA taxes?
TaxLink
Every three months a more complete accounting a federal taxes is required on the?
The employers quarterly federal tax return ,or form 941
Which of the following statements applies to an electronic fund transfer system?
The employee does not have to worry about losing paychecks
An employer must pay the FUTA tax, which is ____up to the first $7000 of the employees income for a year, if employees wage total more than 1500 in any quarter
6.2%