What do we call the amount of an individual's wages which are not included in a paycheck?

The amount of an individual's wages that is not included in a paycheck is referred to as withholdings. Withholdings are deductions taken from gross wages by an employer before an employee receives their paycheck. These deductions can include various taxes (such as federal and state income tax, Social Security, and Medicare), as well as other amounts like contributions to retirement plans or health insurance premiums.

Understanding withholdings is crucial for individuals to manage their personal finances effectively, as these deductions impact the amount of net pay that ultimately is received. The other terms, such as gross wage and net pay, refer to different aspects of income. Gross wages are the total earnings before any deductions, while net pay is the amount received after all withholdings have been taken out. Debits, on the other hand, generally refer to financial transactions affecting accounts rather than wages.