Financial Accounting – Payroll

Payroll calculations - federal income tax, social security, Medicare - Payroll journal entries posted to ledger accounts

4.54 (1035 reviews)
Udemy
platform
English
language
Accounting & Bookkeeping
category
18,201
students
21.5 hours
content
Jan 2020
last update
$149.99
regular price

What 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

Financial Accounting – Payroll - Screenshot_01Financial Accounting – Payroll - Screenshot_02Financial Accounting – Payroll - Screenshot_03Financial Accounting – Payroll - Screenshot_04

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
Accounting Comic Break

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
Accounting Comic Break

Taxes – Employer & Employee

11 Taxes Employer & Employee
PDF - 605 Taxes Employer - Employee
605 Taxes Employer Employee
30 Multiple Choice – Payroll
Accounting Comic Break

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
Accounting Comic Break

Reconcile Year End Payroll Forms

21 Reconcile Year End Payroll Forms
PDF -130 Reconciling Year End Payroll Forms
130 Reconciling Year End Payroll Forms
Accounting Comic Break

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

Renata
March 15, 2022
The training is conducted comprehensively and professionally. I like the accuracy with which everything is explained.
Charlotte
October 1, 2021
he is very detail and explain everything over and over for to get it thru so that you can retain the information
Donnette
August 23, 2021
Its a good match. I have done payroll before in another country and is delighted to now learn about the different payroll laws in the United States of America.
Trina
July 21, 2021
So far, it appears to contain the content I’m looking to learn about payroll rules and regulations etc
Natasha
June 17, 2021
The experience was good. I get a good exposure to US payroll. This course prepares you to manage payroll successfully also helps to manage accounting entries of payroll
Victoria
April 21, 2021
It is a bit soon. I am taking Mr. Steele's QB class as well. I like it so, I am trying this as well.
Kristin
February 16, 2021
This course has been wonderful for me. With working full time and also having a small child, it is very important that I be able to self-pace.
Kendra
January 12, 2021
The layout of this course is completely backwords. You have to sit through 157 "lessons: to finally understand how you go the numbers and filled in the form. That should be at the beginning considering it also teaches how the formulas in Excel work. Everything before lesson 157 is a repeat of information. The "lessons" are not appropriately numbered as there are 1 minute "comic breaks" (23) to be exact that all account for a lesson. There is also a 1 min. introduction to your next video, then another 1 min "lesson" to tell you there is a downloadable resource. All of these 1 minute videos are counted as a lesson. You really don't even start learning until Section 4-24 everything before that is "what we are going to learn". That can be avoided and just get right into it, that's what we paid for... the lessons, not the videos telling what we are going to learn. I wouldn't mind 6 1 hour lessons on each topic as long as it was straight forward, to the point and not have repeat information. If you don't mind filtering through all the bullshit, this course does have some value, but it is also showing documents from 2017, and now in 2021, they are very different, especially the bracket information for federal income tax, which is what I really hoped to gain from this. This course could use a major update.
Rene
January 2, 2021
It is very informative and getting a look at why something is done is extremely helpful when figuring out your next steps, or when something goes wrong.
Haftom
June 5, 2020
So far I like the high light of payroll and payroll related explanations. I hope , I would expect a better knowledge of this course and It will help me on my career.
Pranathi
May 25, 2020
I Thought it would be tough to deal with numericals but i didnt feel so difficult in it..It was gud worth to enroll and complete..
Yashwanth
May 16, 2020
It was a Nice course as a whole. However, I see computation for State taxes & SUTA taxes were not discussed and explained in details. Thanks
Rajnandini
May 16, 2020
Its very useful for the people who wants a deep knowledge about payroll. It was very easy to understand and very helpful for me. Thanks Udemy.
Bobbie
June 28, 2018
Another amazing course from Robert Steele. Very detailed and easy to understand with a lot of great information. Thank you.
Lin
June 16, 2018
The course shows the connection between reporting payroll each pay period, as well as quarterly and yearly reporting. The connection between recording payroll and reporting payroll forms has always been confusing for me. This course has helped my understanding of the entire process a lot.

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1739174
udemy ID
6/9/2018
course created date
9/28/2019
course indexed date
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