Payroll Accounting & Bookkeeping

About this course

A payroll accounting course that runs one small studio's monthly payroll for eight employees from gross pay to the ledger. You work out gross pay from salaries, hourly wages, overtime and commission, take it to net pay through a pre-tax pension, income tax withholding and employee social contributions, add the employer's contributions to find the total cost of an employee, total and cross-foot the payroll register, post the payroll journal entries for the expense, the withheld liabilities and the net pay, pay the liabilities to the tax office and the funds, accrue unpaid wages and holiday pay at month end and reconcile the register with the ledger and the bank. The tax and contribution rates are fictional, so the course teaches the bookkeeping rather than one country's rules. The first lab is free.