Provide us with your details and the team will contact you
Send To Friend
Send to a friend
Provide us with your details and the team will contact you
Send to a friend
Introduction
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 payroll accounting course will enhance the skill-set of the payroll accountants and payroll specialist looking to advance in their career.
Objectives
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 in payroll accounting for the general ledger posting.
outline :
Accounting and auditors roles in payroll process
Recording payroll expense and liabilities
Recording payroll and benefits costs to assets or inventory
Recording payroll related contributions and liabilities
Reconciling receivables from and payables to employees with payroll department
Reconciling liabilities with social security and other governmental agencies
Reconciling payments with bank accounts transactions
Introduction to internal audit and external audit
Auditing the payroll
Payroll budgeting
Budgeting for payroll department expenses
Preparing the yearly budget for payroll and contributions for the company
Budgeting for employee loans and other benefits
Reporting payroll and contributions
Determining contribution expense for individuals
Determining corporate contributions
Reporting results to the accounting department
Coordinating with accounting department regarding payment process and control
Reporting to ministry of labor
Reporting to social security authorities
Reporting to other regulatory agencies
To view the training curriculum, please click here
To view the registration, payment, and cancellation policy, please click here
To view the terms and conditions for the training program locations, please click here.
European Quality for Training and Consultancy is certified