Payroll

Overview

Payroll can be the largest outlay of cash for a business every month. 

If the business doesn’t handle it correctly, not only can there be a loss of cash, but common mistakes often lead companies into trouble with the government.

With this course, you will understand payroll and how to avoid problems. We review the basics of payroll cycles and how to manage payrolls, how employees are defined and more.

We explore what you need to do legally to meet all the government regulations that impact payroll, involving tax & labor laws. Then focus on how to calculate paychecks, take out the proper deductions and manage the actual payment to employees. Finally, we show you how to deal with all the paperwork and accounting procedures related to payroll.

Learning Outcomes

  • Understood how to use the payroll cycles
  • Identified the key employee types and their government regulations"
  • Understood the different types of pay and benefit options
  • Learned how to file government and tax reports
  • Identified key accounting functions and understood the related accounting reports

Syllabus

Section 1: Payroll Basics

  • Unit 1.1 - Payroll Cycles
  • Unit 1.2 - Timekeeping

Section 2: Hiring Employees

  • Unit 2.1 - Defining Employee Types
  • Unit 2.2 - Government Forms

Section 3: Paying Employees

  • Unit 3.1 - Salaries and Wages
  • Unit 3.2 - Compensation Alternatives
  • Unit 3.3 - Employee Benefits
  • Unit 3.4 - Payments

Section 4: Payroll Deductions and Taxes

  • Unit 4.1 - Third Party Deductions
  • Unit 4.2 - Income Taxes
  • Unit 4.3 - Preparing Payroll

Section 5: Government Reporting

  • Unit 5.1 - Government Reporting

Section 6: Payroll Accounting

  • Unit 6.1 - Accounting Basics
  • Unit 6.2 - Reports & Controls

Duration

3 Hours