Financial Accounting – Payroll
Payroll calculations - federal income tax, social security, Medicare - Payroll journal entries posted to ledger accounts
4.16 (663 reviews)
8841
Students21.5 hours
ContentJan 2020
Last UpdateWhat you will learn
☑ 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
☑ Payroll Taxes Journal Entry
☑ Payroll Taxes Journal Entry
☑ Payroll Ethics & Practices
☑ Payroll Controls & Documentation
☑ Form 941
☑ Form 940
☑ Form W-2 & W-3
☑ Reconcile Year End Payroll Forms
☑ Comprehensive Payroll Problem
☑ Comprehensive Accounting Cycle Problem
☑ Definitions & Key Terms
Description
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.
In addition to the instructional videos, this course will include downloadable
• Downloadable PDF Files
• Excel Practice Files
• Multiple Choice Practice Questions
• Short Calculation Practice Questions
• Discussion Questions
The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material.
Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships.
Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions.
Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions.
Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints.
Who will we be learning from?
You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum.
You will be learning from somebody who is a:
• CPA – Certified Public Accountant
• CGMA – Chartered Global Management Accountant
• Master of Science in Taxation
• CPS – Certifies Post-Secondary Instructor
• Curriculum Development Export
As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels.
As a CPA and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.
The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro.
Content Includes:
• Payroll laws
• Calculation of regular pay and overtime pay
• Calculation of employer and employee social security
• Calculation of employer and employee Medicare
• Calculation of employee federal income tax
• Calculation of employer federal unemployment tax (FUTA)
• Other payroll deduction
• Payroll journal entries
• Posting payroll journal entries to the general ledger
• Filling our payroll forms including
• Form 941s
• Form 940
• Form W-2
• Form W-3
• Form W-4
• Comprehensive payroll problem
• Comprehensive accounting cycle problem
• Payroll Definitions and key terms.
Screenshots
Content
Introduction
Introduction
PDF - 10 Introduction
10 Payroll Introduction
Accounting Comic Break
Payroll Legislation
2 Payroll Legislation
PDF - 20 Payroll Legislation
20 Payroll Legislation
PDF - 310 Minimum Wage & Nonexempt Employees
310 Minimum Wage & Nonexempt Employees
PDF - 410 Fringe Benefits
410 Fringe Benefits
Accounting Comic Break
Payroll Forms and Time-Frames
3 Payroll Forms and Time-Frames
20 Payroll Consideration and Tax Forms
PDF - 80 Payroll Periods and Time Frames
80 Payroll Periods and Time Frames
PDF - 90 New Employee Tax Form & Contractor vs Employee
90 New Employee Tax Forms & Contractor vs Employee
Accounting Comic Break
Payroll Register & Earning Record
4 Payroll Register & Earnings Record
PDF - 330 Payroll Register
330 Payroll Register
Excel Download
25 Worksheet - Earnings Record
Accounting Comic Break
Regular Pay & Overtime Pay Calculation
5 Regular Pay & Overtime Pay Calculation
PDF - 10 Regular & Overtime Pay
10 Regular & Overtime Pay Calculation
Excel Download
10 Worksheet - Regular & Overtime Pay
PDF - 315 Payroll Calculations
315 Payroll Calculations
PDF - 320 Overtime Calculation
320 Overtime Calculation
Accounting Comic Break
Federal Income Tax & Retirement Plans
6 Federal Income Tax & Retirement Plans
PDF - 510 Federal Income Tax (FIT)
510 Federal Income Tax (FIT)
Excel Download
20 Worksheet - Federal Income Tax Withholding FIT
PDF - 415 Deductions From Gross Pay
415 Deductions From Gross Pay
PDF - 420 Retirement Plans
420 Retirement Plans
PDF - 20 Federal Income Tax FIT - Tables
20 Federal Income Tax FIT
PDF - 25 Federal Income Tax FIT - Percent Method
25 Federal Income Tax FIT - Percent Method
Excel Download
25 Worksheet - Federal Income Tax - Percentage Method
Accounting Comic Break
Federal Income Contributions Act Social Security
7 Federal Income Contributions Act Social Security
PDF - 30 Federal Income Contributions Act (FICA)
30 Federal Income Contributions Act (FICA)
PDF - 515 Social Security
515 Social Security
PDF - 30 OASDI Calculation
30 Social Security Tax Calculation
Excel Download
30 Worksheet - OASDI
Accounting Comic Break
Federal Income Contribution Act Medicare
8 Federal Income Contribution Act (FICA) -Medicare
PDF - 520 Medicare Tax
520 Medicare Tax
PDF - 40 HI Calculation
40 Medicare Tax Calculation
Excel Download
40 Worksheet HI
Accounting Comic Break
Federal Unemployment Tax Act (FUTA)
9 Federal Unemployment Tax Act (FUTA)
PDF - 40 FUTA SUTA Workers Compensation
40 FUTA, SUTA Workers Compensation
PDF - 615 Federal & State Unemployment Tax
615 Federal & State Unemployment Tax
PDF - 50 FUTA
50 Federal Unemployment Tax Act Calculation
Excel Download
50 Worksheet FUTA
10 Multiple Choice – Payroll
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Other Deductions
10 Other Deductions
PDF - 425 Post Tax Deductions
425 Post Tax Deductions
PDF - 525 Other Deductions & Payment Methods
525 Other Deductions & Payment Methods
20 Multiple Choice – Payroll
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Taxes – Employer & Employee
11 Taxes Employer & Employee
PDF - 605 Taxes Employer - Employee
605 Taxes Employer Employee
30 Multiple Choice – Payroll
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Employer Responsibilities
12 Employer Responsibilities
PDF - 60 Employer Responsibilities and Processes
60 Employer Responsibilities and Processes
PDF - 55 Employer Taxes
55 Employer Taxes Calculation
PDF - 610 FICA Employer
610 FICA Employer
Excel Download
55 Worksheet - Employer Taxes
40 Multiple Choice – Payroll
Accounting Comic Break
Payroll Expense Journal Entry
13 Payroll Expense Journal Entry
PDF - 505 Net Pay Calculation
505 Net Pay Calculation
PDF - 70 Payroll Expense Journal Entry
70 Payroll Expense Journal Entry
Excel Download
70 Worksheet - Payroll Expense Journal Entry
50 Multiple Choice – Payroll
Accounting Comic Break
Payroll Taxes Journal Entry
14 Payroll Taxes Journal Entry
PDF - 80 Payroll Tax Expenses Journal Entry
80 Payroll Tax Expense Journal Entry
Excel Download
80 Worksheet Payroll Tax Expenses Journal Entry
Accounting Comic Break
Paying Payroll Tax Liability Journal Entry
15 Paying Payroll Tax Liability Journal Entry
PDF - 90 Pay Payroll Expenses Journal Entry
90 Pay Payroll Tax Expense Journal Entry
Excel Download
90 Worksheet - Pay Payroll Expenses Journal Entry
Accounting Comic Break
Payroll Ethics & Practices
16 Payroll Ethics & Practices
PDF - 50 Payroll Ethics & Practices
50 Payroll Ethics & Practices
Accounting Comic Break
Payroll Controls & Documentation
17 Payroll Controls & Documentation
PDF - 100 Payroll Controls and Documentation
100 Payroll Controls and Documentation
Form 941
18 Form 941
PDF - 620 Form 941
620 Form 941
PDF - 100 Form 941
100 Form 941
Accounting Comic Break
Form 940
19 Form 940
PDF - 110 Form 940
110 Form 940
PDF - 625 Form 940
625 Form 940
Accounting Comic Break
Form W-2 & W-3
20 Form W-2 & W-3
PDF - 120 W-2 & W-3
120 Form W-3 & W-2
PDF - 630 W-2 & W-3
920 Form W-3
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Reconcile Year End Payroll Forms
21 Reconcile Year End Payroll Forms
PDF -130 Reconciling Year End Payroll Forms
130 Reconciling Year End Payroll Forms
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Comprehensive Payroll Problem
22 Comprehensive Payroll Problem
Excel Download
10 Regular & Overtime Pay
20 Payroll Comp Problem August Payroll Register
30 Payroll Comp Problem August Earning Records
40 Payroll Comp Problem August Journal Entry
45 Payroll Comp Problem September Payroll Register
50 Payroll Comp Problem September Earning Records
60 Payroll Comp Problem September Journal Entry
70 Payroll Comp Problem Form 941 3rd Qt
80 Payroll Comp Problem October Payroll Register
90 Payroll Comp Problem October Earning Records
100 Payroll Comp Problem October Journal Entry
110 Payroll Comp Problem November Payroll Register
120 Payroll Comp Problem November Earning Records
130 Payroll Comp Problem November Journal Entry
140 Payroll Comp Problem Dec. Payroll Register & Earning Records
150 Payroll Comp Problem Dec. Journal Entry
160 Payroll Comp Problem Form 941 4rd Qt
170 Payroll Comp Problem Form 940
180 W-2 & W-3 Comp Problem Form 940
190 Comp Problem Reconcile Payroll Tax Forms 941s, 940 & W-3
Accounting Comic Break
Comprehensive Accounting Cycle Problem
22 Comprehensive Accounting Cycle Problem
Excel Download
1 Accounting%2C Financial - Comp Prob Service Co 1 Part 1
2 Accounting%2C Financial - Comp Prob Service Co 1 Part 2
3 Accounting%2C Financial - Comp Prob Service Co 1 Part 3
4 Accounting%2C Financial - Comp Prob Service Co 1 Part 4
5 Accounting%2C Financial - Comp Prob Service Co 1 Adjusting Entries part 5
6 Comp Prob Service Co 1 Adjusting Entries part 6
7 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 7
8 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 8
9 Accounting%2C Financial - Comp Prob Service Co 1 Closing Process Part 9
10 Comp Prob Service Co 1 Closing Process part 10
Accounting Comic Break
Definitions & Key Terms
Employee Benefits Definition - What are Employee Benefits%3F
Federal Insurance Contributions Act %28FICA%29 - What is Federal
Federal Unemployment Tax Act %28FUTA%29 - What is Federal Unempl
Form 940 Definition - What is Form 940%3F
Form 941 Definition - What is Form 941%3F
Form W-4 Definition - What is Form W-4%3F
Net Pay Definition - What is Net Pay%3F
Payroll Bank Account Definition - What is Payroll Bank Account
Payroll Deduction Definition - What are payroll deductions%3F
Accounting Comic Break
Reviews
I really enjoyed the Excel pre-populated forms. Although, in a couple of them numbers were not the same than what the instructor had, I was able to grasp concepts. I would suggest using more up to date forms, just to make sure we are taking in consideration the year we are studying (as some rules may change) but overall, I like how our instructor led the course. I know a few peers complained about too many repetitions but I do believe that is the key of learning something, repetition.
I'm less than halfway through this course and have already found multiple instances where incorrect/inconsistent amounts are entered in spreadsheets. Also, amounts changing from one slide to the next without explanation.
This course is really good for me considering I had very limited knowledge on US payroll. The course has got accountings as well which is actually a bonus for a purely new person.
There are errors in it. And you cant copy and paste on large parts of the project so you end up typing a lot of information into excel projects.
Numbers in excel sheets provided do not match numbers in presentation. Presenter repeats things a lot, causing lectures to be longer than necessary. There are relevant information in the course, but it's not very engaging and it's confusing when numbers are messed up in the presentation and resources provided.
the initial excel downloaded does not follow the proper calculations for Gross Income and Net Income. Retirement plan was not deducted before calculating the taxes. FUTA was deducted from Employee Retained Earnings. December Salary for Judy Jones is wrong.
The content of the course is good, a lot of good information. Sometimes too long-winded for a fast learner. The course could have been shorter, too many repetitions.
This course was a great. It helped refresh some older task as well as eductate me in some areas I had not been performing. It went beyond just the teaching of payroll.
This course is massive. It does not only treat payroll from a numbers standpoint. It deals with payroll as a subset of accounting, while also showing its connection with human resource. Dealing with how payroll affect the financial statement is fantastic. Not many of the other payroll courses deal with payroll as holistic as is done in this course. If you are looking for a payroll course that sets you apart, look no other play than here. The course is simply a masterclass. No other payroll course comes close to this one mainly because the instructor is not just a payroll personnel, but a seasoned accountant who understands the the payroll, its processes, and implications on the business, coupled with the fact that he understands taxes and accounting as well which gives him a competitive edge over his peers. Not only do I recommend this course but I also urge you to take advantage of his other accounting courses on his accounting website. You nailed this course
It's very informative and I feel that I will definitely get a comprehensive understanding of the finer points of Payroll. But, it is a lot to take in. At times, apart when I'm taking my own notes, I am staring at the same slide screen which hasn't changed for several minutes, and I think if the powerpoint could more actively follow and include more of the spoken information it would feel a little less dry and more engaging for the student. Also, Some of the Discussion questions throughout do not seem to be placed in correct sequence to the lessons. Sometimes I have to look ahead in the course for the unit relevant to the question in order to be able to compose an informed answer. I really appreciate the guided practice work sheets, the process of doing really helps to solidify the information to memory.
I would like to tell a Huge Thank You to the Robert (Bob) Steele for an incredible work he did by creating this course. Just to be clear, I'm not a starting student, I have 2 university bachelors degree (one in Accounting, and another one in Law, both obtained in Europe), the same time I just starting my accounting practice in the US. As far as I had dealt with lots of instructors and lectors of different qualification levels, please, believe me, I know what I'm talking about. This course is an absolute gift for those people who are interested in getting a strong base of practical knowledge in the basics of calculating payroll and its accounting side. Logically built and practically oriented material that gives you a lot of clear and useful practical answers. Lectures provided to each presentation are given in an easy clear language (lector's voice and speaking manner are absolutely charming, by the way:). At the same time, to those ones of you guys, who are strongly intended to become CPP for $12.99, I just want to say, Payroll as itself is a huge and complicated topic, each component of which is directly related to a bunch of regulations, on the both federal and state local level. But what is great about this course, it gives you a strong base of knowledge and an idea in which direction to move on the way to improve your professional skills in payroll accounting and calculation. I absolutely satisfied and strongly recommend this course! Thank you so much again!!=*)
The course has been ok At three points the discussion questions was about journal entry and we had not cover the material yet I also thought there were some hands on excel worksheets. Maybe I'm looking in the wrong place. Some things were very repetitive.
Good refresher on some of the things I was rusty on. I look forward to the calculations and hands on material.
Another great course by Bob. The payroll topic is usually tricky and involves quite a number of moot points, but Bob takes you through all the stages smoothly and makes it easily understandable with logical and simple, down-to-earth explanations. The course also includes a practical payroll problem together with the accompanying forms that you have to fill in and file, which is also done in an easily understandable manner. I have to admit that I've always had a bit of aversion towards payroll accounting, but after doing this course with Bob I feel much more confident about it. Now I think I am able to apply my knowledge in real world business situations regarding this topic. I highly recommend this course!
Much more comprehensive course the I have seen. Most payroll courses seem to be trying to sell software rather then teach payroll. This course goes into the details of payroll calculation from a calculation perspective and a financial statement perspective.
Coupons
| Status | Date | Discount | ||
|---|---|---|---|---|
| Expired | 9/28/2019 | 100% OFF | ||