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Enrolled:
277
Duration: 1 Hour
Level: Foundational
Access This Course: Instant Access to Course Library

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

Learning 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 for the general ledger posting.

58 Reviews (155 ratings)Reviews

4
Anonymous Author
Provided a good basic understanding, would have liked more examples.
4
Anonymous Author
very basic accounting
5
Member's Profile
Too easy
5
Member's Profile
Good for a payroll person who doesn't understand where THEIR numbers go.
2
Member's Profile
Would like to see detail of test outcome
4
Anonymous Author
basic and straightforward. good introduction
3
Member's Profile
This is a simple entry level course. There's more on the trial balance than on payroll accounting.
5
Member's Profile
Nice course
2
Anonymous Author
overly simplistic, not specifically related to payroll
2
Member's Profile
Course title deceiving....more about general accounting than payroll accounting
4
Member's Profile
Course was WAY more basic than anticipated.
2
Anonymous Author
Might be a good overview if not an accountant. Was hoping for more information on the payroll side perspective rather than a quick intro to accounting 101.
2
Anonymous Author
45
3
Member's Profile
good basics for a payroll person. Probably a little too basic for an accountant.
3
Member's Profile
very good as a basic cource for non-accounting people
4
Member's Profile
Interesting and a good introduction
4
Member's Profile
Surprised me that physical was used for fiscal. Very easily understood. Very nice!
5
Anonymous Author
It was clear and easy to understand. A good basic refresher course.
5
Member's Profile
I liked the emphasis on the basis of accounting and not just for payroll.
4
Member's Profile
tougher than I thought it would be
5
Anonymous Author
Well explained, and simple to understand.
4
Anonymous Author
Well prepared and comprehensive presentation.
4
Member's Profile
Good basic overview of payroll accounting. Thanks.
4
Anonymous Author
Thorough and clear presentation of the concepts!
4
Anonymous Author
Basics
5
Anonymous Author
Very Informative
3
Member's Profile
very basic course
3
Member's Profile
Would like to see more examples.
3
Anonymous Author
Great course for basic accounting review
3
Anonymous Author
Good basic review of general accounting for an entry-level payroll employee. Liked the incorporation of the lesson quizzes.
4
Anonymous Author
A very very basic review. This is a high school review but an effective one.
3
Member's Profile
Really really basic
3
Member's Profile
very basic accounting, not as advanced on the payroll as desired.
5
Anonymous Author
It covers basic principle of payroll accounting. It is helpful to refresh my memories from School.
5
Anonymous Author
Good summary of info
4
Member's Profile
Good overview of the basics of accounting and how it pertains to payroll recording.
5
Member's Profile
Great course! Very informative.
3
Member's Profile
The course is too basic for a CPA.
2
Member's Profile
Objectives met as written, which is more about teaching accounting to payroll people than teaching payroll to the accountants. Delivery was very monotone with too much repetition that makes it seem like too much time allotted. Nuances of content often not precise/correct. Multiple quiz questions implied only one account would be impacted but another one listed could/would also be. Did acknowledge not all companies follow accrual accounting but assumed all that did follow book and reverse. Accounts illustrated often miss SEC distinction between payables and accrued expenses. Some points irrelevant given the objectives, such as accounting for computer purchases and leases.
3
Anonymous Author
very basic, would have liked to see more on payroll accounting rather than basic general accounting
4
Member's Profile
Great introduction to payroll accounting for the non-accountant. A bit too basic for anyone with an entry level knowledge of accounting.
4
Member's Profile
I found the course helpful, but thought the power point outline was somewhat incomplete.
5
Member's Profile
explanation of payroll accounting
3
Anonymous Author
Very basic
4
Anonymous Author
Good introduction to basics of payroll accounting.
5
Member's Profile
Very organized. Mini-quizzes helpful. Great intro class for payroll.
5
Anonymous Author
This course provided a good, basic overview of accounting and payroll processes. I would like to see a little more detail regarding how to reverse the accrual entries and book the actual entries.
1
Member's Profile
basic, but informative
4
Anonymous Author
Basic overview of accounting and payroll
5
Member's Profile
This was very helpful in my current position. I've been taken on a lot of Accounting responsibilities. I was tested on this subject matter when I obtained my CPP. But, haven't been using this until recently.
5
Member's Profile
Great overview
4
Member's Profile
Good
3
Member's Profile
Very very very basic material.
4
Anonymous Author
good overview of payroll accounting.
5
Anonymous Author
Very good and detailed with explanations that are very helpful for the beginner. I think bookkeepers would benefit most from this course
3
Member's Profile
mediocre
5
Anonymous Author
Great Course!!!
5
Member's Profile
This course was very fruitful , this will help me with payroll processing .

Prerequisites

No Advanced Preparation or Prerequisites are needed for this course. 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 ext. 106, or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Lesson 1
  7:13Importance of Accounting
  9:59Account Types
Lesson 2
  8:53Chart of Accounts/Posting Entries
  6:37Posting Entries (continued)
Lesson 3
  7:29Accruals
  7:12Accrual and Reversal Entries
  12:51Vacation Accrual and Course Recap
SUPPORTING MATERIALS
  PDFSlides: Basic Payroll Accounting
  PDFBasic Payroll Accounting Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM