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Effective Bookkeeping and Payroll Certification

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Overview:

Do you want to run your small business effectively? Effective Bookkeeping and Payroll course provides basic knowledge on how to administer accounting for payroll. This course is perfect if you operate a small business or you are planning for a career change and want to be effective at running your own company, and doing payroll in-house. The course offers insight into the skill set of a payroll practitioner who is aiming to advance their career.

The Effective Bookkeeping and Payroll course will discuss credits, debits, liabilities and assets and recording journal entries. The course will enhance learner’s skills and knowledge on how to effectively operate payroll transactions and accruals.  In addition, track revenue, outgoings, forecast profitable solutions, and keep track of financial transactions and inventories.

The Effective Bookkeeping and Payroll course helps individuals to learn to keep track of all the numbers. Individuals will gain expertise in bookkeeping and the confidence to determine performance and maintain financial stability and clarity. The course is internationally recognised and accredited to a training organisation and you will be issued an internationally recognised qualification following full completion of Effective Bookkeeping and Payroll course.

Why consider 1Training?

As improvements and advancements are made in technology, online courses are no longer just conventional means of studying at affordable costs. In many aspects online training offers superiority to traditional learning. There is an effectiveness and convenience that traditional learning cannot provide. The overall convenience and flexibility makes it a superior learning method.

1Training offers the most convenient path to gain an internationally recognised qualification that will give you the opportunity to put into practice your skill and expertise in an enterprise or corporate environment. You can study at your own pace at 1Training and you will be provided with all the necessary material, tutorials, qualified course instructor and multiple free resources which include Free CV writing pack, Nus Discounted Card, Free career support and course demo to make your learning experience enriching and more rewarding.

Learning Outcomes

  • Gain an overall understanding of bookkeeping functions.
  • Learn how to define debit and credit.
  • Learn liability and asset accounts in payroll transactions.
  • Learn how payroll practices can impact the cost of payroll within an organisation.
  • Learn how to prepare payroll journal entries.

Course Titles

  • Module 01: Principles
  • Module 02: Overview of Internal Controls
  • Module 03: Subsidiary Ledgers and Journals
  • Module 04: Reconciliations
  • Module 05: Correcting Entries
  • Module 06: Sales Tax
  • Module 07: Budgeting
  • Module 08: Accounting for Merchandising

Access Duration

The course will be directly delivered to you, and you have 12 months access to the online learning platform from the date you joined the course.  The course is self-paced and you can complete it in stages, revisiting the lectures at anytime.

 Who is this Course aimed at?

  • The course is small business owners and those who want to start a business.
  • Individuals who want a career change and understand financial aspects of business.
  • Students in High School and University.
  • The course is ideal for sales teams.
  • Employees in corporate leadership.

Entry Requirements

  • You must be 16 or over
  • You should have a basic understanding of English and basic IT knowledge
  • You will need a computer or tablet with internet connection (or access to one)

Method of Assessment

At the end of the Effective Bookkeeping and Payroll course you will be required to take a multiple choice question assessment test. The multiple choice question assessment will be automatically marked with learners receiving an instant grade.

Certification

Those who successfully complete the exam will be awarded the certificate in Effective Bookkeeping and Payroll.

Awarding Body

The certificate will be awarded by CPD and iAP. This internationally recognised qualification will make your CV standout and encourage employers to see your motivation at expanding your skills and knowledge in the IT enterprise.

Progression and Career Path

Once you successfully complete Effective Bookkeeping and Payroll you will be qualified to work in the following positions. The Effective Bookkeeping and Payroll qualification will also put you in line to demand a higher salary or job promotion. The average UK salary per annum according to https://www.payscale.com is given below.

  • Bookkeeper – £10.28 per hour
  • Bookkeeper Payroll – £11.14 per hour
  • Payroll Supervisor – £26,495 per hour
  • Payroll Officer – £20,666 per annum
  • Payroll Clerk – £18,127 per annum

Other Benefits

  • Written and designed by the industry’s finest expert instructors with over 15 years of experience
  • Repeat and rewind all your lectures and enjoy a personalised learning experience
  • Gain access to quality video tutorials
  • Unlimited 12 months access from anywhere, anytime
  • Excellent Tutor Support Service (Monday to Friday)
  • Save time and money on travel
  • Learn at your convenience and leisure
  • Quizzes, tests mock exams, practice exams to ensure you are 100% ready
  • Eligible for a NUS discount card
  • Free Career Support Service
  • 25% Discount on personal Statement and covering letter writing service
  • Free Access to Over 150 courses for 2 days (48 hours)

Key Features

Gain an accredited UK qualification

Access to excellent quality study materials

Learners will be eligible for TOTUM Discount Card

Personalized learning experience

One year’s access to the course

Support by phone, live chat, and email

Course Curriculum Total Units : 217
➤ Module 01 – Principles
Course Introduction
1.0 Principles
1.1 Introduction – GAAP
1.2 Transactions – The Accounting Equation
1.3 Transactions – Debit and Credit Rules
1.4 Transactions – Analysis
1.5 Demo – Full Disclosure Principle
1.6 Demo – Journal Process Practice
1.7 Chapter 01 Review
➤ Module 02 - Overview of Internal Controls
2.0 Overview of Internal Controls
2.1 The Need for Internal Controls
2.2 Overview of Internal Control
2.3 Principles of Internal Control
2.4 Control Concepts
2.5 Overview of Internal Control (Cont.)
2.6 Examples of Controls Across the Organization
2.7 Overview of Sarbanes Oxley Sections 302 and 404
2.8 Implications of SOX
2.9 Control Concepts (Cont.)
2.10 Audit Process and Conduct
2.11 Internal Controls – Bottom Line
2.12 Demo – Internal Control Reporting
2.13 Chapter 02 Review
➤ Module 03 - Subsidiary Ledgers and Journals
3.0 Subsidiary Ledgers and Special Journals
3.1 Subsidiary Ledgers
3.2 Subsidiary Ledger
3.3 Subsidiary Ledgers (Cont.)
3.4 Accounts Receivable – Aging of Subledger
3.5 Using Special Journals
3.6 Special Journals – Sales Journal
3.7 Special Journals – Posting Sales Journal
3.8 Special Journals – Control Accounts
3.9 Special Journals – Cash Receipts
3.10 Special Journals – Posting Cash Receipts
3.11 Special Journals – Cash vs. Credit Card
3.12 Special Journals – Purchases
3.13 Special Journals – Cash Payments
3.14 Special Journals Summary
3.15 Demo – Cash Receipts Journal
3.16 Chapter 03 Review
➤ Module 04 – Reconciliations
4.0 Reconciliations
4.1 Purpose
4.2 Accounts To Be Reconciled
4.3 Ownership and Accountability For Reconciliations
4.4 A Reconciliation is a Critical Internal Control
4.5 What is a Reconciliation
4.6 Reconciliation
4.7 “Reconciling Items” and Unreconciled Differences
4.8 Bank Reconciliation Example
4.9 Inventory Reconciliation Example
4.10 Who Should Perform the Reconciliation?
4.11 Exercise – Accounts Receivable Reconciliation
4.12 Who Can Review a Reconciliation?
4.13 A Roll-forward Analysis
4.14 Analytical Roll-forward
4.15 Analytical Roll-forward of a Trade A/R Account
4.16 Analytical Roll-forward of Cash
4.17 Other Verifications of Account Balances
4.18 Chapter 04 Review
➤ Module 05 - Correcting Entries
5.0 Correcting Entries
5.1 Corrections – The Wrong Amount
5.2 Corrections – The Wrong Account
5.3 Corrections – Reversing Entries
5.4 Chapter 05 Review
➤ Module 06 - Sales Tax
6.0 Sales Tax
6.1 Sales Tax – Calculations
6.2 Sales Tax – Recording Transactions
6.3 Sales Tax – Pay Collected Taxes
6.4 Sales Tax – Paying Collected Taxes
6.5 Sales Tax Rules and Filing
6.6 Sales Tax Rates
6.7 Sales Tax Rules and Filing (Cont.)
6.8 Audits and Out of State Taxes
6.9 Chapter 06 Review
➤ Module 07 – Budgeting
7.0 Budgeting
7.1 All Businesses Must Have a Strategic Plan
7.2 Yearly Target Setting (Budgeting)
7.3 Defining Objectives
7.4 Budgeting Defined
7.5 Budgeting for Smaller Companies
7.6 Types of Budgets
7.7 Budgeting Development and Assumptions
7.8 Bookkeeper Role in Budgeting
7.9 Example Budget Spreadsheet
7.10 Chapter 07 Review
➤ Module 08 - Accounting for Merchandising
8.0 Accounting for Merchandising
8.1 Merchandising Income Statement
8.2 Manufacturing Income Statement
8.3 Merchandising Income Statement (Cont.)
8.4 Merchandising Revenue – Credits
8.5 Credit Notes
8.6 Merchandising Revenue – Credit Notes
8.7 Credit Notes (Cont.)
8.8 Sales Discounts
8.9 Calculating Sales Discounts
8.10 Recording Sales Discounts
8.11 Sales Discounts – Customer Account
8.12 Net Sales on the Income Statement
8.13 Purchasing Merchandise
8.14 Periodic Inventory System
8.15 Purchase Discounts
8.16 Discounts – Purchase Discounts
8.17 Freight-in
8.18 End of Period Income Statement
8.19 Net Sales on the Income Statement (Cont.)
8.20 Determine Cost of Goods On Hand
8.21 Compute COGS for Income Statement
8.22 Income Statement
8.23 Perpetual Inventory System
8.24 Discounts – Purchase Discounts (Cont.)
8.25 Cash on Delivery (COD)
8.26 Demo – Merchandising Income Statement
8.27 Chapter 08 Review
➤ Module 09 - Accounting for Cash
9.0 Accounting for Cash
9.1 Defining Petty Cash
9.2 Trend in Petty Cash
9.3 Accounting for Petty Cash – Establishing
9.4 Accounting for Petty Cash – Cash Sheet
9.5 Accounting For Petty Cash – Entries
9.6 Accounting – Petty Cash – Reimbursing
9.7 Petty Cash Entry
9.8 Accounting for Cash Over or Short
9.9 Accounting – Cash Over or Short
9.10 Good Cash Control in a Retail Business
9.11 Accounting For Cash Over or Short (Cont.)
9.12 Cash Controls – The Bank Reconciliation
9.13 Accounting – Bank Reconciliation
9.14 Accounting – Bank Statements
9.15 Bank Statements
9.16 Accounting – Bank Errors
9.17 Accounting – Cash Book Errors
9.18 Bank Reconciliation Process
9.19 Bank Account Reconciliation
9.20 Accounting – Bank Account Reconciling
9.21 Demo – Bank Reconciliation
9.22 Chapter 09 Review
➤ Module 10 – Payroll
10.0 Payroll
10.1 The Payroll Process
10.2 Payroll Process – Gross Pay
10.3 Payroll Process – Deductions
10.4 Payroll Process – Taxes
10.5 Payroll Process – Deduction Tables
10.6 Payroll Process – Deductions (Cont.)
10.7 State Taxes
10.8 Payroll Process – Deductions (Cont..)
10.9 Payroll Process – Voluntary Deductions
10.10 Payroll Process – Net Pay
10.11 Payroll Process – Recording
10.12 Payroll Process – Earnings Record
10.13 Payroll Process – Payroll Record
10.14 Payroll Process – Payroll Records
10.15 Payroll Process – Recording (Cont.)
10.16 Payroll Process – Recording Net Payroll
10.17 Payroll Process – Employer Expenses
10.18 Payroll Process – Recording (Cont..)
10.19 Payroll Process – Making Payments
10.20 Payroll Process – Vacation and Sick Pay
10.21 Payroll Process – Accruals
10.22 Payroll Process – Internal Controls
10.23 Demo – Payroll Calculations and Entries
10.24 Demo – Paycheck
10.25 Chapter 10 Review
➤ Module 11 - Partnerships and Corporations
11.0 Partnerships and Corporations
11.1 Partnership – The Partnership
11.2 Partnership – Partnership Accounting
11.3 Partnership – The Drawing Account
11.4 Admitting a New Partner
11.5 Entry to Admit New Partner
11.6 Death of a Partner
11.7 Partner Withdrawal – Example 1
11.8 Partner Withdrawal – Example 2
11.9 Corporations
11.10 Corporations – Shareholder Value
11.11 Corporations – Share Ownership
11.12 Sale of Common Stock
11.13 Preferred Stock
11.14 Preferred Stock – Sale of Shares
11.15 Corporations – Authorized versus Issued
11.16 Corporations – Dividends
11.17 Shareholders Sale of Stock
11.18 Chapter 11 Review
➤ Module 12 - Accounts Receivable and Bad Debt
12.0 Accounts Receivable and Bad Debts
12.1 Accounts Receivable – Aging
12.2 Accounts Receivable – Accounts
12.3 Accounts Receivable – Aging (Cont.)
12.4 Accounts Receivable – The Balance Sheet
12.5 Bad Debts – Writing Off
12.6 Bad Debts – Recovering
12.7 Bad Debts – Small Business
12.8 Sale of Receivables
12.9 Sale of Receivables – Entry
12.10 Accounts Receivable Turnover
12.11 Demo – Accounts Receivable Entries
12.12 Chapter 12 Review
➤ Module 13 - Interim Profit or Loss
13.0 Interim Profit or Loss
13.1 Interim – Interim Statement
13.2 Interim – Preparing Interim Statement
13.3 Chapter 13 Review
➤ Module 14 - Year End - Prep. to Close Books
14.0 Year End - Preparing to Close the Books
14.1 Year End – Inventory
14.2 Year End – Adjusting Entries
14.3 Year End – Adjusting Entries Types
14.4 Inventory Obsolescence
14.5 Inventory Reserves – Entries
14.6 Inventory Write Offs – Entries
14.7 Year End – The Worksheet
14.8 The Spreadsheet
14.9 Chapter 14 Review
➤ Module 15 - Year End - Closing the Books
15.0 Year End - Closing the Books
15.1 Year End – Closing Journal Entries
15.2 Year End – Post Closing Trial Balance
15.3 Year End – Financial Statements
15.4 Year End – Income Statement
15.5 Year End – Balance Sheet
15.6 Accounting Information
15.7 Demo – Real World Financials
15.8 Chapter 15 Review
➤ Module 16 - Cash Flow
16.0 Cash Flow
16.1 What is Cash Flow?
16.2 Categories of Cash Flow
16.3 Cash From Operations
16.4 Why We Manage Cash Flow
16.5 Cash Flow – The Indirect Method
16.6 The Direct Method
16.7 Maximizing Cash Flow
16.8 Cash Cycle
16.9 Revenue and Receivables
16.10 Expenses and Payables
16.11 Inventory
16.12 Capital / Investment
16.13 Quick Ratio
16.14 Cash Flow Adequacy Ratio
16.15 Chapter 16 Review
16.16 Course Closure
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