Time and Work Records

Upon completion of this unit, you should be able to:

1. Define and explain the common payroll periods: weekly, biweekly, semimonthly, and monthly.

2. Explain why time records are kept by businesses.

3. Explain the use and value of time cards and time clocks.

4. Explain how time sheets are used in recording hours worked.

5. Explain, in general terms, how electronic time-recording systems work.

6. Explain how the quarter-hour system works.

7. Explain what flextime is and how it is used.

8. Explain, in general terms, the advantages workers have when they work full-time at home.

9. Name the federal law that requires businesses to keep, for three years, records of dates of work, rates of pay, and earnings of all employees.

10. Explain the piece-work system used by some firms to pay their employees.

11. Explain how the commission basis is used in paying some employees.

12. Explain how payment of salary plus commission works.

13. Explain what labor distribution is and how it is used.

14. Explain how temporary workers are paid.

15. Explain how contract workers are paid.

16. Explain the difference between temporary and contract workers.

17. Know how Forms 1099 and 1096 are used.