Payroll Accounting: Laws, Calculations, and Journal Entries

This monetary accounting and payroll class will cowl payroll matters together with payroll laws, payroll calculations, and getting into payroll journal entries.

As a result of payroll is turning into extra advanced and extra of a specialised subject it’s troublesome to seek out content material that places all of it collectively in a single spot like this course does.

We’ll focus on payroll laws, going over all kinds of legal guidelines that affect payroll. As a result of payroll is such a broad matter and since it overlaps with different areas of enterprise like human sources many legal guidelines affect the processing of payroll.

We’ll think about legal guidelines that cope with the calculation of payroll and payroll withholdings.

The course will cowl the era of payroll registers and earnings stories, the first instruments to assist us calculate payroll.

We’ll focus on calculation payroll tax withholding like federal revenue tax (FIT), social safety, and Medicare. We’ll calculate web pay from gross pay.

This course will cowl journal entries associated to payroll; a subject usually ignored in could payroll lessons. Payroll journal entries will be difficult. Studying payroll journal entries helps our understanding of each payroll and debits and credit score.

We’ll put up payroll journal entries to the overall ledger and analyses the impact on the monetary accounts and accounting equation.

This course will cowl the processing of payroll tax kinds like type 941, type 940, type W-2, type W-3, and type W-4.

We additionally embrace a complete an issue, permitting us to see the complete course of in a single drawback.

This course contains key phrases and definitions associated to payroll and a basic complete accounting cycle complete drawback. The accounting cycle complete drawback will take a step again, so we are able to see the large image and visualize how the payroll course of matches into the general accounting cycle.

Along with the academic movies, this course will embrace downloadable

•    Downloadable PDF Recordsdata

•    Excel Observe Recordsdata

•    A number of Selection Observe Questions

•    Brief Calculation Observe Questions

•    Dialogue Questions

The PDF recordsdata enable us to obtain reference data we are able to use offline and as a information to assist us work by the fabric.

Excel observe recordsdata will probably be preformatted in order that we are able to deal with the adjusting course of and studying a number of the fundamentals of Excel, like addition, subtraction, and cell relationships.

A number of selection instance query helps us enhance our test-taking abilities by lowering the data into the dimensions and format of a number of selection questions and discussing strategy these questions.

Brief calculation questions assist us cut back issues which have some calculation right down to a brief format that might be utilized in a number of selection questions.

Dialogue Query will present a chance to debate these matters with the teacher and different college students, a course of many college students discover very useful as a result of it permits us to see the subject from completely different viewpoints.

Who will we be studying from?

You may be studying from any individual who has technical expertise in accounting ideas and in accounting software program like QuickBooks, in addition to expertise instructing and placing collectively curriculum.

You may be studying from any individual who’s a:

•    CPA – Licensed Public Accountant

•    CGMA – Chartered International Administration Accountant

•    Grasp of Science in Taxation

•    CPS – Certifies Put up-Secondary Teacher

•    Curriculum Improvement Export

As a training CPA the teacher has labored with many technical accounting points and helped work by them and focus on them with shoppers of all ranges.

As a CPA and professor, the teacher has taught many accounting lessons and labored with many college students within the fields of accounting, enterprise, and enterprise functions.

The teacher additionally has loads of expertise designing programs and studying how college students study finest and assist college students obtain their aims. Expertise designing technical programs has additionally profit in having the ability to design a course in a logical trend and cope with issues associated to technical matters and using software program like QuickBooks Professional.

Content material Contains:

•    Payroll legal guidelines

•    Calculation of standard pay and time beyond regulation pay

•    Calculation of employer and worker social safety

•    Calculation of employer and worker Medicare

•    Calculation of worker federal revenue tax

•    Calculation of employer federal unemployment tax (FUTA)

•    Different payroll deduction

•    Payroll journal entries

•    Posting payroll journal entries to the overall ledger

•    Filling our payroll kinds together with

•    Type 941s

•    Type 940

•    Type W-2

•    Type W-3

•    Type W-4

•    Complete payroll drawback

•    Complete accounting cycle drawback

•    Payroll Definitions and key phrases.