- Payroll Legislation
- Payroll Forms and Time-Frames
- Payroll Register & Earning Record
- Regular Pay & Overtime Pay Calculation
- Federal Income Tax & Retirement Plans
- Federal Income Contributions Act Social Security
- Federal Income Contribution Act Medicare
- Federal Unemployment Tax Act (FUTA)
- Other Deductions
- Taxes – Employer & Employee
- Employer Responsibilities
- Payroll Expense Journal Entry
This financial accounting and payroll class will cover payroll topics including payroll legislation, payroll calculations, and entering payroll journal entries.
Because payroll is becoming more complex and more of a specialized field it is difficult to find content that puts it all together in one spot like this course does.
We will discuss payroll legislation, going over a wide variety of laws that influence payroll. Because payroll is such a broad topic and because it overlaps with other areas of business like human resources many laws influence the processing of payroll.
We will concentrate on laws that deal with the calculation of payroll and payroll withholdings.
The course will cover the generation of payroll registers and earnings reports, the primary tools to help us calculate payroll.
We will discuss how to calculation payroll tax withholding like federal income tax (FIT), social security, and Medicare. We will calculate net pay from gross pay.
This course will cover journal entries related to payroll; a topic often overlooked in may payroll classes. Payroll journal entries can be complicated. Learning payroll journal entries helps our understanding of both payroll and debits and credit.
We will post payroll journal entries to the general ledger and analyses the effect on the financial accounts and accounting equation.
This course will cover the processing of payroll tax forms like form 941, form 940, form W-2, form W-3, and form W-4.
We also include a comprehensive a problem, allowing us to see the entire process in one problem.
This course includes key terms and definitions related to payroll and a general comprehensive accounting cycle comprehensive problem. The accounting cycle comprehensive problem will take a step back, so we can see the big picture and visualize how the payroll process fits into the overall accounting cycle.