Payroll Management - The Wages Control Account

Learn the Core Principle of Bookkeeping & Financial Systems with the UK ***(AAT/ICB inclusive)***

What you'll learn

The Accounting System (Stage 1 Overview)

Debits and Credits (DEAD CLIC)

Ledger Account Categories

Dual Effect (Double entry Bookkeeping)

The Journal and its Purpose

Identifying and Managing Payroll Transactions

Using Control Accounts within the Accounting System

Requirements

There are no prerequisites for the course and it is targeted at a beginner with no prior financial background or bookkeeping and accounting knowledge.

Access to paper, pen and a calculator.

Optional - Access to a printer to print off sample documents for worked examples.

Description

Captions: English, বাংলা, Français, Русский, 简体中文, Española, 한국인, Polski, Português (Portugal), TürkçePlease note to international students, this course relates to the UK PAYE System.This course is primarily aimed at linking up two financial systems, The Payroll System and The Accounting System (The Ledger). The course is aimed at all levels of knowledge and experience, and can be used as an introduction to The Dual Effect of UK and International Bookkeeping, or as a refresh and update. We will be looking at the double-entry bookkeeping system, categorisation of account types and placement of values using Double-entry Bookkeeping activities and demonstrations. We will also be exploring Control Accounts, Payroll Transaction identification and classification, along with the pivotal role of The Journal. This course will also help you identify between EmployEE  expenses and income, and EmployER expenses and liabilities.Debits and Credits are an area often overlooked in Bookkeeping, Accounting and within the world of finance, but it is the core principle which all internationally renowned accounting systems operate on, such as Sage, Oracle, Xero or QuickBooks. Having a strong understanding of how The Dual Effect works form a manual perspective will provide you with a firm foundation on which to build you knowledge and increase your confidence when it comes to problem solving and correction of errors, instead of just relying on an accounting package to do it for you, and hoping it gets it right.Learning Outcomes are achieved through unique resources in the form of videos, activities and quizzes to help you learn no matter what your learning style. The course is brought to you by an MAAT Tutor and current industry professional so you can be assured that the teaching is up to date and relevant. By synchronising teaching qualifications with theory and real life practice from over 25 years in the industry, you will be able to apply your learning in the real world with the possibility of sitting an assessment with the AAT/ICB and gaining an internationally recognised qualification. These lessons will assist you with the means and resources to pass online assessments with the AAT saving you the cost and energy of attending traditional lessons. Learn in a way and that suits you with the use of technology so that you can learn where ever whenever. You will also be able to start a Bookkeeping System from scratch to help with your business start-up and progression.They are also a great resource and tool for business owners who want to save money by preparing their own accounts or wanting to understand the workings behind their Accounting Software such as Sage, Oracle, Xero or QuickBooks.Enjoy!!!

Overview

Section 1: Debits and Credits (The Bookkeeping Dual Effect)

Lecture 1 Introduction

Lecture 2 The Accounting System (Stage 1)

Lecture 3 Debits and Credits (DEAD CLIC)

Lecture 4 Ledger Account Categories

Lecture 5 Dual Effect

Students looking to gain a Level II qualification.,Individuals looking to refresh and update their knowledge.,Business Owners who want to understand their Accounting systems and software.,Individuals with an interest in the Bookkeeping, Accounting or Payroll subjects.