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Component BASICS

Generate an image of a modern office environment with payroll staff analyzing tax codes and formulas, featuring computer screens showing payroll components, bright colors, and a professional atmosphere.

Payroll Component Basics Quiz

Test your knowledge on payroll components with our interactive quiz! This quiz covers essential concepts and functionalities related to payroll components, designed for both beginners and experienced users.

10 multiple choice questions
Designed to enhance your understanding of payroll management
Immediate feedback on your answers

10 Questions2 MinutesCreated by CalculatingCloud512

To COPY the tax code and the pre-defined formula from an existing component to a new component: What function is clicked?

Edit

Add

Tax Code

Non-statutory components on the payroll components screen can be DELETED if they have not been added to an employee's record?

True

False

Minimum and maximum values assigned to a payroll component can be overwritten on the Recurring Payroll Components Screen?

True

False

When defining an Income Base for extra hours worked. What Source Type should be used in the formula?

Hours per Period

Hourly Rate

Days per Period

A components tax code can be overwritten on the General Ledger parameters screen when editing a component?

True

False

Where do you enable the calculation order number to show on the payroll components screen?

On the Component itself

General Ledger

Company Settings

By default, all components display on the employee's PDF payslip?

True

False

To include a UIF Deduction in the Gross Up calculation for a Gross Up Bonus. This can be enabled under:

Company Settings

Gross Up Bonus Component

Component Income Base

Is there an "extra option" that can be applied on a component to ensure that a Recurring Payroll Component can calculate on the Edit Payslip Screen without Basic Pay being present?

True

False

When copying a component with an Income Base. You can change the Income Base, and this will not affect the Income Base of the original component?

True

False

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