Payroll Accounting / Terminology

In this topic, we will be discussing the accounting methods and terms used in reference to your employees.
Employer tax expenses are that several payroll taxes are levied by both state and federal government. Some of these taxes will be paid by the employees and are known as employee tax withholdings.
Employee’s benefits is an employer-provided compensation received by employees in addition to wages or salary. It is also known as fringe benefits which meant to increase the economic security of employees.