Balancing and Accounting for Payroll

Balancing and Accounting for Payroll

Every pay period the payroll needs to be balanced. Every pay period something different occurs. Where do we look when things go wrong?

This one day course will identify potential problem areas and enable you to take the appropriate corrective action. What is the relationship between payroll and the accounts department? Cost centres and ledgers require payroll information – what are they and why are they necessary? This course will help you to understand what the accountancy procedures are, the terms used and reasons for posting. It will also help you comply with HMRCs requirements.

Examples and exercises are used throughout to remove the mystique and give clear, simple explanations.

Who Should Attend?

All staff who are responsible for recording and processing payroll information; those responsible for posting payroll information to the ledgers and cost centres; anyone who needs a simple grounding in basic accounting procedures applicable to payroll.

Course Content

· Statutory Obligations

· How to Balance a Payroll

· Corrective Action

· Recording and Posting Payroll Information

· Reconciliations, Monthly Remittances

· Annual Remittances and Returns

· Overview of the Accounting Process

· Explanation of Accounting Terms

Course Aims

On completion delegates should be able to:

· Balance, reconcile and where necessary, correct their payrolls

· Understand accountancy terminology

· Control monthly statutory returns

· Make accurate postings to the correct ledger accounts

· Prepare for end of year returns