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An Introduction to Payroll Accounting
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Payroll taxation and social security contributions in the United States, Canada and the United Kingdom

Summary

Price
£19 inc VAT
Study method
Online, On Demand
Duration
0.9 hours · Self-paced
Qualification
No formal qualification
Certificates
  • Reed courses certificate of completion - Free
1 student purchased this course

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Overview

This course provides a grounding in the principles and structure of payroll accounting whatever your country of operation.

In this course we will cover the core elements of payroll; how gross pay is calculated; and issues when dealing with tips and benefits in kind. We’ll also look at tax-exempt deductions and the statutory deductions from pay.

We’ll review the main elements of payroll taxation and social security contributions including the terminology used in the United States, Canada and the United Kingdom.

Certificates

Reed courses certificate of completion

Digital certificate - Included

Will be downloadable when all lectures have been completed

Curriculum

1
section
8
lectures
0h 52m
total

    • 1: First Principles in Payroll Accounting 08:14
    • 2: Getting to Gross Pay 09:03
    • 3: Allowances and Deductions 07:32
    • 4: Income Taxes and Social Security Contributions 07:38
    • 5: The Calculation of Net Pay 04:18
    • 6: Specific Payroll Terminology for the United States, Canada and United Kingdom 04:49
    • 7: Payroll Journal Entries 05:00
    • 8: Final Thoughts on Payroll Accounting 04:27

Course media

Description

And we’ll cover the calculation of Net Pay – that is the amount that the employee actually receives in their bank account. Finally we’ll explore the main journal entries required in the accounts.

The principles and structure of payroll accounting are common across many jurisdictions, and the learning in this course applies in many countries of the world. For this reason, the course does not go into the detail of any country-specific legislation or regulations, and does not cover the particular tax rates, tax bands or deduction rates that apply in different jurisdictions.

On completion of the course, delegates will be able to:

  • Describe the main components of payroll including allowances, taxes and deductions.
  • Explain the terms Gross Pay, Taxable Pay and Net Pay
  • Identify the statutory taxes and deductions applicable in the United States, Canada and the United Kingdom
  • Complete the main Journal Entries required to process payroll
  • Describe the elements recorded in a Payroll Register

Who is this course for?

This course is aimed at accountants, business managers and owners new to payroll accounting and looking for straightforward coverage of the key elements and features of payroll.

Requirements

No requirements

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Legal information

This course is advertised on Reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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