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.
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
Prerequisites
No Advanced Preparation or Prerequisites are needed for this course.
Learning Objective
- 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.
Last updated/reviewed: March 16, 2024
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Progress
INTRODUCTION AND OVERVIEW
Lesson 1
- Importance of Accounting 7:13
- Account Types 9:59
Lesson 2
Lesson 3
- Accruals 7:29
- Accrual and Reversal Entries 7:12
- Vacation Accrual and Course Recap 12:51
CONTINUOUS PLAY
SUPPORTING MATERIALS
REVIEW & TEST
- REVIEW QUESTIONS quiz
- FINAL EXAM exam
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![]() | This activity, ID No. 19 ILL 000 has been approved for 1.0 Recertification Credit Hour(s) toward CPP recertification through the American Payroll Association (APA). Please make note of the Course Code on your CPP Recertification Log. For more information about certification or recertification, please visit the APA website at www.americanpayroll.org. |
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This activity, ID No. 19 ILL 000 has been approved for 1.0 Recertification Credit Hour(s) toward RCH recertification through the American Payroll Association (APA). Please make note of the Course Code on your FPC Recertification Log. For more information about certification or recertification, please visit the APA website at www.americanpayroll.org. |
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