
Access a downloadable pdf that complements the instructional video, providing a supplement to the lecture.
Learn payroll basics, including journal entries, withholdings, and payroll taxes. Explore internal controls, data protection, and the growing payroll specialty across federal, state, and international laws.
Explore how payroll frequency, payment methods, and tax forms shape payroll processing for different employers; manage withholdings, deductions, and earnings records for accurate reporting.
Analyze new employee tax forms, especially the W-4, and the contractor versus employee relationship with respect to withholdings. See how the W-4 data informs payroll systems and 1040 reporting.
Download the Excel worksheet included in the next payroll accounting presentation to access a downloadable resource for this course.
Explore payroll accounting laws, calculations, and journal entries, presented with an engaging accounting comic break to reinforce core concepts.
Learn to calculate overtime by converting minutes to hours, applying time and a half, and using daily or weekly rules with 8-hour and 40-hour thresholds, plus 15-minute rounding.
Access a downloadable pdf that serves as a supplement to the instructional video on payroll accounting, with a focus on retirement plans.
Download the Excel worksheet in the upcoming presentation to practice payroll calculations and journal entries.
Explore ficca Social Security within the federal income contributions act, then learn to calculate Social Security wages and tax, using video-led instructions and preformatted Excel worksheets for step-by-step practice.
Examine the social security component of the FICA taxes, including the employer and employee 6.2% contributions up to the cap. Learn how OASDI, the cap, and withholding affect net pay.
Illustrates calculating Social Security tax (SDI) from total earnings, considering caps and cafeteria plan deductions, using payroll registers and earnings records; shows employee and employer portions at 6.2%.
Determine whether the Social Security cap is reached and calculate SDI wages, then compute employer and employee OASDI taxes at 6.2%.
A downloadable pdf accompanies the instructional video, serving as a supplement to payroll accounting content on laws, calculations, and journal entries.
Explore how to compute the Medicare tax for payroll, distinguishing Medicare wages from total earnings, applying cafeteria plan adjustments, and calculating employer and employee portions at 1.45% with no cap.
Download a practical excel worksheet in the next presentation to practice payroll accounting calculations and journal entries.
Calculate FUTA using the $7,000 wage cap and earnings records to determine taxable FUTA wages, noting cafeteria plans and other adjustments that affect the rate for two employees.
Calculate futa and ceuta taxes using the 7000 cap on futa wages, adjust for cafeteria or retirement plans, and apply 0.6% futa and 5.4% ceuta as employer taxes.
Explore a lighthearted accounting comic break that reinforces payroll accounting concepts, including laws, calculations, and journal entries, to enhance practical understanding.
This comprehensive payroll accounting course covers many aspects of payroll, providing in-depth knowledge of payroll legislation, calculations, and journal entries. Led by an experienced CPA, this course offers practical examples and valuable insights into the intricacies of payroll processing.
In this course, we will thoroughly explore payroll legislation, including a wide range of laws that impact payroll operations. We will focus on the laws related to payroll calculations and withholdings, ensuring compliance with legal requirements.
Understanding the importance of accurate calculations, we will dive into the generation of payroll registers and earnings reports, which serve as vital tools in calculating payroll accurately. Through practical exercises, you will develop proficiency in calculating payroll tax withholdings, such as federal income tax (FIT), social security, and Medicare. We will guide you through the process of determining net pay from gross pay, equipping you with the necessary skills to handle payroll calculations effectively.
One key aspect often overlooked in payroll courses is the recording of payroll transactions. In this course, we will thoroughly cover payroll journal entries, providing a comprehensive understanding of their complexity. By examining the impact of these entries on financial accounts and the accounting equation, you will gain practical knowledge of payroll accounting and its correlation with debits and credits.
Moreover, we will address the crucial process of completing payroll tax forms, including Form 941, Form 940, Form W-2, Form W-3, and Form W-4. Through step-by-step guidance, you will learn how to accurately fill out these forms, ensuring compliance with reporting requirements.
To enhance your learning experience, this course offers valuable resources, including downloadable PDF files for offline reference, preformatted Excel practice files to reinforce your Excel skills, multiple-choice and short calculation practice questions to sharpen your problem-solving abilities, and stimulating discussion questions to facilitate interactive learning and knowledge sharing.
You will have the privilege of learning from a highly qualified instructor who holds CPA, CGMA, and Master of Science in Taxation credentials. With their extensive experience in accounting concepts, QuickBooks software, and curriculum development, you can trust in their expertise to provide comprehensive instruction and guidance.
Content Includes:
In-depth coverage of payroll laws and their impact on payroll processing
Detailed explanations and calculations of regular pay and overtime pay
Comprehensive understanding of employer and employee social security and Medicare calculations
Thorough examination of employee federal income tax calculations
Detailed insights into employer federal unemployment tax (FUTA) calculations
Exploration of other payroll deductions and their significance in payroll accounting
Extensive guidance on payroll journal entries and their proper posting to the general ledger
Step-by-step instructions for accurately completing payroll tax forms (Form 941, Form 940, Form W-2, Form W-3, Form W-4)
Practical application through comprehensive payroll and accounting cycle problems
Comprehensive coverage of key payroll definitions and terminology for a thorough understanding
Enroll now in this comprehensive payroll accounting course and gain the skills and knowledge to excel in managing payroll operations effectively and with confidence.