Payroll Accounting Introduction
What you'll learn
- Define liability and asset accounts for payroll transactions.
- Identify payroll transactions that should be posted to a liability or asset account.
- Define debit and credit.
- Recognize the processes to ensure correct accounting of the payroll.
- Discover how payroll practices impact the cost of operating a payroll organization.
- Discover how to prepare payroll journal entries for the general ledger posting.
- No advanced preparation or prerequisites are needed for this course.
This course prepares the learner with the basic knowledge needed to administer the accounting for payroll. We start with a brief overview of payroll accounting. We will discuss debits, credits, liabilities, and assets. We then walk through an example of recording journal entries for payroll transactions and accruals for a month. The material taught in this course will enhance the skill-set of the payroll practitioner looking to advance in his/her career.
We review examples of:
- General employer payroll liabilities: such as liabilities for employee compensation, liabilities for employee payroll withholdings, and liabilities for employer payroll taxes.
- Payroll journal entries
- Payroll accrual journal entries
If you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: Introduction to Payroll Accounting. Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an ‘approved-by-the-governing-body’ CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.
Who this course is for:
- Anyone interested in Accounting, Finance, or related fields.
Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job.
Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination.
Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.
Shirley Brickous, on the surface, is an extremely accomplished payroll professional at Apollo Education Group, with 26 years’ experience in the payroll and human resources field. Shirley received her B.S. in Accounting from the University of Phoenix. She then went on to complete her Master’s Degree in Accountancy at University of Phoenix. She is currently pursuing her Doctor of Management in Organizational Leadership and wishes to engage with thought leaders and high ranking decision makers delivering strategic and creative solutions while influencing change within the organization.
Shirley is dedicated to the advancement of the payroll profession through education and networking opportunities. She is recognized national speaker and services on numerous committees, and teaches several courses. She is Certified Payroll Professional (CPP) and Professional in Human Resources (PHR). In her spare time, she enjoys traveling, crafting, and spending time with family.