Introduction to Payroll Accounting

Overview

Wages and salaries are computed differently in different regions of the world based on different measures and deductions. Take this bookkeeping course to learn about payroll accounting, which is the basic method of calculating and determining an individual's net pay. This course helps you to grasp complicated computations and understand fundamental payroll terminology.

We start by describing the most basic objectives of payroll accounting and the function and obligations of payroll accountants. We identify the terms used in regular transactions and help you understand the distinction between net and gross compensation and the formulas used to calculate both. The course also examines taxes, deductions and social security contributions.

Creating payroll journal entries is not a difficult operation but it must be understood to be done correctly. We walk you through the stages of journaling payroll entries. Finally, we discuss the payroll register and use an example to explain how it works. This bookkeeping course suits anyone who wants to learn how final pay is computed, particularly those who intend to pursue a career in the accounting and bookkeeping industry. Sign up today to gain a valuable new skill.