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What is a payroll correction form?

A payroll correction is a payroll run that happens off your regular cycle to fix an error made in a previous payroll. For most payroll mistakes, time is of the essence when it comes to fixing them, which is why employers often opt for correction, or off-cycle, payroll runs in those situations.

What is the purpose of salary adjustment?

Why do companies adjust salaries? Companies adjust salaries to ensure that their pay rates remain competitive in the market, to retain talent, and to address changes in the cost of living or inflation.

What is the meaning of paid adjustment?

Payment Adjustment Definition. A payment adjustment (or pay adjustment) is a change made to the amount you owe or are owed. This change can happen for several reasons, such as a mistake in the original billing, a return of merchandise, or a discount you received after the invoice was issued.

What is a payroll adjustment form?

This form should be used to submit payment adjustments for specific types of earnings that require authorization and/or verification by HR- Payroll. Employee Name. Pay Period.

What does payroll adjustment mean?

A payroll adjustment refers to any change in an employees regular pay. This change can be an increase or a decrease. It can also be a one-time change or a permanent one. A pay raise, for example, is a positive and permanent adjustment because youre increasing your employees pay moving forward.

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