Payroll Accounting Introduction
Last updated 6/2017
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz
Language: English | Size: 104.45 MB | Duration: 1h 2m

This course prepares the learner with the basic knowledge needed to administer the accounting for payroll.
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 entriesPayroll accrual journal entriesIf 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.
Overview
Section 1: Introduction
Lecture 1 Introduction to Basic Payroll Accounting
Lecture 2 Importance of Accounting
Lecture 3 Account Types
Lecture 4 Chart of Accounts/Posting Entries
Lecture 5 Posting Entries (continued)
Lecture 6 Accruals
Lecture 7 Accrual and Reversal Entries
Lecture 8 Vacation Accrual and Course Recap
Section 2: Supporting Materials
Lecture 9 Slides: Basic Payroll Accounting
Lecture 10 Basic Payroll Accounting Glossary/Index
Section 3: Review and Test
Anyone interested in Accounting, Finance, or related fields.
Screenshots