Payroll Accounting: Laws, Calculations, and Journal Entries

Master the complex world of payroll with practical examples, legislation insights, and comprehensive problems.

4.38 (1900 reviews)
Accounting & Bookkeeping
Payroll Accounting: Laws, Calculations, and Journal Entries
22.5 hours
Nov 2022
last update
regular price

What you will learn

Identify the key federal payroll laws and regulations that govern payroll processing.

Calculate regular pay and overtime pay accurately based on predetermined formulas and guidelines.

Apply the appropriate formulas to determine both employer and employee social security and Medicare contributions.

Calculate employee federal income tax withholdings based on relevant tax brackets and allowances.

Determine employer federal unemployment tax (FUTA) liability and calculate the corresponding amounts accurately.

Analyze various payroll deductions and their implications on employee net pay.

Prepare comprehensive payroll journal entries, considering the impact on financial accounts and the accounting equation.

Post payroll journal entries accurately to the general ledger for proper recording and reporting.

Complete payroll tax forms, such as Form 941, Form 940, Form W-2, Form W-3, and Form W-4, following applicable guidelines and requirements.

Solve comprehensive payroll problems, integrating knowledge of payroll legislation, calculations, and journal entries.

Apply payroll concepts within the context of the accounting cycle to gain a comprehensive understanding of payroll's role in financial reporting.

Define and explain key payroll-related terms and concepts for effective communication and comprehension in the field.

Why take this course?

🌟 Course Title: Payroll Accounting: Laws, Calculations, and Journal Entries
πŸŽ“ Course Headline: Master the complex world of payroll with practical examples, legislation insights, and comprehensive problems.

Course Description:

Embark on a deep dive into the intricacies of payroll accounting with our expert-led course designed to equip you with a mastery of payroll laws, calculations, and journal entries. As a participant, you will gain invaluable insights and practical skills that are essential for managing payroll operations effectively and confidently.

Understanding Payroll Legislation:
This course begins by thoroughly exploring the legal landscape of payroll, covering a broad spectrum of laws that govern payroll processing. From there, we delve into the specifics of payroll calculations and withholdings, ensuring your knowledge is up-to-date and compliant with current legislation.

Accurate Payroll Calculations:
We understand the critical nature of accurate payroll calculations. That's why this course provides hands-on exercises to develop your skills in calculating payroll tax withholdings, including federal income tax (FIT), social security, and Medicare. You will learn how to accurately determine net pay from gross pay, a skill that is indispensable for any payroll professional.

Recording Payroll Transactions:
Often overlooked in basic payroll courses, the recording of payroll transactions is a critical component of the payroll cycle. Our course covers payroll journal entries in depth, providing a comprehensive understanding of their complexities and their impact on financial accounts, thus reinforcing your knowledge of debits and credits.

Payroll Tax Forms Mastery:
Navigating the completion of payroll tax forms can be daunting, but our course breaks down the process with step-by-step guidance for forms like Form 941, Form 940, Form W-2, Form W-3, and Form W-4. You will learn how to accurately complete these forms, ensuring your reporting is in line with all requirements.

Enhanced Learning Resources:
To ensure a well-rounded learning experience, this course offers a variety of resources including downloadable PDF files, preformatted Excel practice files, and a collection of practice questions to sharpen your problem-solving skills. Additionally, discussion questions are provided to encourage interactive learning and knowledge sharing among peers.

Expert Instruction:
You will be learning from an instructor who holds CPA, CGMA, and Master of Science in Taxation credentials, bringing a wealth of knowledge and experience to the course. Their expertise spans accounting concepts, QuickBooks software, and curriculum development, ensuring you receive comprehensive instruction and guidance.

Course Content Highlights:

  • Comprehensive Payroll Laws Coverage: Understand the impact of laws on payroll processing.
  • Regular & Overtime Pay Calculations: Gain detailed knowledge of how to calculate regular and overtime pay.
  • Social Security & Medicare Calculations: Learn employer and employee calculations for social security and Medicare.
  • Federal Income Tax Calculations: Explore the complexities of employee federal income tax calculations.
  • FUTA (Federal Unemployment Tax Act) Calculations: Dive into the calculations for Federal Unemployment Tax Act.
  • Other Payroll Deductions: Discover the significance of other payroll deductions in accounting.
  • Payroll Journal Entries: Receive extensive guidance on payroll journal entries and their proper posting to the general ledger.
  • Completion of Payroll Tax Forms: Step-by-step instructions for forms 941, 940, W-2, W-3, and W-4.
  • Real-World Application: Apply your knowledge through comprehensive payroll and accounting cycle problems.
  • Thorough Coverage of Payroll Definitions & Terminology: Understand key concepts and terminology used in the field of payroll accounting.

Enroll Today!
Take the first step towards mastering payroll accounting by enrolling in this comprehensive course. Elevate your expertise and gain the confidence to manage complex payroll operations with precision and accuracy. πŸš€πŸ“š


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Our review

🌟 Overview of the Course 🌟

The course on Payroll Accounting has garnered a global course rating of 4.40, with recent reviews reflecting a mix of positive and constructive feedback. The content of the course is comprehensive, covering various aspects of payroll accounting such as recording employees' compensation, withholding, employer's portion of taxes, fringe benefits, and more. It provides a clear and repetitive explanation of key concepts, which some learners have found extremely helpful for understanding complex topics.


  • πŸ“˜ Comprehensive Content: The course offers a detailed overview of payroll accounting, including definitions, calculations, and real-world applications.
  • πŸš€ Easy to Understand: The explanations are provided in a clear and easy-to-follow manner, suitable for learners who may not be from the field of payroll.
  • πŸ’‘ Repetition Aids Learning: Repetition is used effectively to reinforce learning and ensure understanding of key concepts.
  • πŸ’Ž High Value for Money: The course is considered a valuable resource at an affordable price, with many learners finding it a complete guide to the subject matter.
  • πŸ† Real-World Application: The course content is practical and can be applied directly to one's current profile, aiding self-growth in the field of payroll accounting.


  • πŸ› οΈ Distracting Graphics and Animations: Numerous learners have reported that the animations, gifs, and video overlays are overly distracting and can partially conceal important information on screen.
  • ⏱️ Excessive Explanation for Simple Concepts: Some sections appear to have excessive explanation, which may not be necessary and could potentially be time-consuming.
  • πŸ“… Outdated Information: Specifically regarding the W-4 form, learners have noted that the content is outdated as exemptions are no longer used in the current format of the form.
  • πŸ”« Too Many Video Overlays: The video content sometimes prioritizes unnecessary visuals over practical demonstrations, such as real examples of filling out forms.

Learner Experiences:

  • Many learners have expressed that despite the distractions, they found the course to be beneficial and have gained valuable knowledge from it.
  • Some learners have pointed out that the course is particularly useful for those who are new to payroll accounting or are looking to expand their knowledge base from a different country's tax system, such as from Malaysia to Australia.
  • A few learners have indicated that they had difficulty continuing with the course due to the high level of distraction caused by the graphics and video overlays.

Suggestions for Improvement:

  • πŸ“Ή Update Video Production: Reduce unnecessary animations and transitions, focusing instead on providing real examples and practical demonstrations.
  • ✏️ Revise Content: Update the course content to reflect the most current forms and tax laws, especially for elements like the W-4 form.

Conclusion: Overall, the Payroll Accounting course offers a wealth of knowledge in an accessible format, but it could significantly improve with reduced visual distractions and updated content. Learners are encouraged to navigate through the more helpful aspects of the course while being mindful of the potential pitfalls related to distracting graphics and outdated information.



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