• Workday
     
     
     
     
  • Employee - Payroll Terminology


     
     Term  Definition
    Direct Deposit A payment election. You can choose Direct Deposit as a payment type. If this is elected, any payment from the company will go directly to the bank account specified. You can set up your direct deposit to include several accounts, and specify the percentage of payment that you would like to go into each account.
    Pay Rate Type Type of worker pay; whether that's a paid salary or a certain amount per unit of time.
    Ex. Hourly or weekly.
    Payment Elections Designates the payment type (check or direct deposit), account information for direct deposits, payment order, and the distribution of balance for split payments. Controlled for each type of pay that you receive, such as regular payments and bonus payments.
    Payslip An online or printed summary of your gross-to-net earnings. Also referred to as a pay stub. Payslips can be found in the Pay worklet.
    Period Schedule When and how often to process payroll. Defines payment dates and forward accruals, using a Period Start Date, Period End Date, and Payroll Payment Date.
    Subject Wages All of your wages subject to a particular tax, including wages for exempt positions and those that exceed a wage cap.
    Taxable Wages All of your wages subject to a particular tax, excluding wages for exempt positions and those that exceed a wage cap.
    Timesheets Record work hours for submission, approval, and eventual payment through payroll, if enabled. (Often this is enabled via the Time Tracking worklet instead of here.)
    Withholding Elections Income tax withheld from your salary based on a set of criteria. Includes Federal, State, Local elections, and Tax Allocations. From the Pay worklet, view withholding information on the State Elections tab and to View/Modify your Federal Elections.
    Worker Eligibility  The conditions you must meet to be eligible to receive a particular earning or deduction.

    Worker Tax Elections  Your marital status, number of elections, exemption status, and other information required for tax collections.