Electronic Funds Transfer (EFT) With electronic funds transfer (EFT), government agencies can pay and collect money electronically, without having to use paper checks. EFT is safe, secure, efficient, and less expensive than paper check payments and collections. Each time the government pays by check, it costs $1.03 (just over a dollar).
Definition of overhead. 1  1 : business expenses (as rent, insurance, or heating) not chargeable to a particular part of the work or product. 2  2 : ceiling; especially : the ceiling of a ship's compartment. 3  3 : a stroke in a racket game made above head height : smash.
Updated 2016-07-12. In traditional cost accounting, the term overhead refers to salaries and other expenses not associated directly with specific product units, service engagements, or sales. Overhead in this sense is the cost of supporting manufacturing, service delivery, or selling.