ELI5: Explain Like I'm 5

Leave and Earnings Statement

A leave and earnings statement is like a report card for grown-ups who have a job. It tells you how much money you made and how many days off you took.

Imagine you have a piggy bank and every time you do something helpful or good, like cleaning your room or being nice to your friend, your parents put some money in your piggy bank. That money is like your paycheck when you grow up. Your boss gives you money when you do a good job at work.

Now, every two weeks, your boss gives you a piece of paper (the leave and earnings statement) that shows how much money you made. It breaks it down to show how much money you got before taxes were taken out (gross pay), how much you actually get to keep (net pay), and how much was taken out for taxes, insurance, and other things.

It also shows how many days you didn't come to work (like when you were sick or went on vacation) and how many days you worked overtime (when you worked more than your usual hours).

So, just like your report card shows how well you did in school, your leave and earnings statement shows how well you did at work.