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Briefly summarize the purpose of the planning phase in SDLC. Explain why it exists and what it contributes to the completion of the system.
Salaries Payable
An account on the balance sheet that represents the amount of unpaid wages owed to employees at the end of a reporting period.
Payroll Register
A payroll register is a detailed document that records all employees' payroll activities, including wages, salaries, deductions, and net pay for a specific period.
Net Pay
The amount of an employee's earnings remaining after deductions, such as taxes and social security contributions, have been made.
Withholding Table
A chart that helps employers determine the amount of taxes to withhold from employees' paychecks based on their earnings and tax status.
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