Arrears
Arrears, or arrearages is a legal term for the
type of debt accrued after missing an expected
payment. Arrears accrue from the date upon the
first missed payment. The term is often used
to describe being late with rent, royalties
(or other contractual payments), child support,
or other legal financial obligation. The word
is also used to describe entitlements earned,
as in a job wage or salary.
For example:
"As an employee of __________ (Company
Name), you are paid one month in arrears."
When you start work on September 5th, after
one month you would have accumulated a certain
amount of worked hours upto October 4th. However,
your salary for the worked hours during the
payroll period September 5th to October 4th
will not be paid to you until the start of the
next payroll period i.e. October 5th to November
4th.
Therefore, your salary for:
Sep 5th - Oct 4th will be paid at the beginning
of November 5th.
Oct 5th - Nov 4th will be paid at the beginning
of December 5th.
Nov 5th - Dec 4th will be paid at the beginning
of January 5th."
Usually Payroll will have a "cut-off"
date at which your salary will be paid for the
previous month's work. This is usually at the
end of the month or the beginning of the next.
****DISCLAIMER****
Bob Marcy is not the author of the information provided in this article and is providing it to his website visitors for informational purposes only. Bob is a licensed Realtor and not a legal or financial expert. The information contained in this article should not be used to replace the advice of a trained legal or financial expert.
About Bob Marcy & Mountain Living
Now
If you are looking for a lakefront
cabin or a secluded mountain home in North Georgia
, then you will need a partner to help you every
step of the way. Bob Marcy is an experienced
North
Georgia realtor that has the local knowledge
you need and the passion to find your perfect
slice of North Georgia real estate. Bob knows
you have many North Georgia realtors to choose
from and he is committed to providing a level
of customer service that sets him apart from
the crowd. He can help you find North
Georgia lakefront cabins, North
Georgia land for sale, North
Georgia mountain homes, Blue
Ridge real estate, North
Georgia river homes, North
Georgia lake homes and Blue
Ridge cabins.
Bob loves living in Blue Ridge and selling
real estate all across North Georgia, Eastern
Tennessee and Western North Carolina . He has
developed this custom website to help consumers
explore all that this area has to offer. You
can search the entire
North Georgia MLS including all North Georgia
properties and land for sale, even properties
listed by other North Georgia realtors. You
can perform custom North Georgia real estate
searches or take advantage of the time saving
1 click searches he has built into the site
such as North
Georgia cabins under $300,000, North
Georgia lakefront cabins & homes, North
Georgia river homes, North
Georgia land for sale under 1 acre, North
Georgia mountain homes under $300,000 with views
and all
Blue Ridge homes under $300,000.
If you see something you like or if you have
a question about a property or maybe just where
the best place to eat is, give Bob a call at
706-258-7375 or shoot him an
email at bob@mountainlivingnow.com
.
