Payroll Accounting Introduction
4.0 (296 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
1,140 students enrolled

Payroll Accounting Introduction

This course prepares the learner with the basic knowledge needed to administer the accounting for payroll.
4.0 (296 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
1,140 students enrolled
Last updated 8/2020
English
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Current price: $34.99 Original price: $49.99 Discount: 30% off
5 hours left at this price!
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This course includes
  • 1 hour on-demand video
  • 2 articles
  • 2 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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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.
Requirements
  • No advanced preparation or prerequisites are needed for this course.
Description

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.
Course content
Expand all 10 lectures 01:01:46
+ Introduction
8 lectures 01:01:44
Chart of Accounts/Posting Entries
08:52
Posting Entries (continued)
06:37
Accruals
07:28
Accrual and Reversal Entries
07:12
Vacation Accrual and Course Recap
12:50
+ Supporting Materials
2 lectures 00:02
Slides: Basic Payroll Accounting
00:01
Basic Payroll Accounting Glossary/Index
00:01
+ Review and Test
0 lectures 00:00

REVIEW QUESTIONS: Introduction to Payroll Accounting

REVIEW QUESTIONS
3 questions

FINAL EXAM: Introduction to Payroll Accounting

FINAL EXAM
5 questions