Effective Bookkeeping and Payroll (Free Online Course With Diploma)
Alison Free Online Learning
Key Information
Campus location
Online
Languages
English
Study format
Distance Learning
Duration
10 - 15 hours
Pace
Full time, Part time
Tuition fees
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Application deadline
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Earliest start date
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* free course
Scholarships
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Introduction
This free online course teaches students about effective bookkeeping and payroll. Students will learn about accounting for a company. They will also learn about taxes during payroll. This payroll course will cover budgeting and budgeting strategies, and also goes into detail on topics such as subsidiary ledgers and special journals. So, why wait? Start this course today and learn about effective bookkeeping and payroll.
This Free Online Course Includes:
- 10-15 Hours of Learning
- CPD Accreditation
- Final Assessment
Alison Certificates
All Alison courses are free to enrol study and complete. To successfully complete this Diploma course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Diploma course, you have the option to acquire an official Diploma, which is a great way to share your achievement with the world.
Your Alison Diploma is:
- Ideal for sharing with potential employers
- Include it in your CV, professional social media profiles and job applications.
- An indication of your commitment to continuously learn, upskill & achieve high results.
- An incentive for you to continue empowering yourself through lifelong learning.
Alison offers 3 types of Diplomas for completed Diploma courses:
- Digital Diploma: a downloadable Diploma in PDF format immediately available to you when you complete your purchase.
- Diploma: a physical version of your officially branded and security-marked Diploma, posted to you with free shipping.
- Framed Diploma: a physical version of your officially branded and security-marked Diploma in a stylish frame, posted to you with free shipping.
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Scholarships and Funding
Curriculum
This course, Effective Bookkeeping and Payroll, will provide you with an understanding of bookkeeping and payroll. You will learn the principles of bookkeeping and internal controls. You will be able to explain subsidiary ledgers and special journals. You will also learn about reconciliations as well as correcting entries.
This course then explains sales tax, different state taxes, and their impact on payroll. You will learn about budgeting and effective budgeting strategies for your company. You will also learn about accounting for merchandising and accounting for cash. The course will cover partnerships and corporations as well as accounts receivable and bad debts. Students will also learn all about interim profit vs loss.
This course then wraps up with preparing to close the books and transitioning to closing the books at the end of the year. You end the course by learning all about cash flow as well as the indirect method and the direct method. By taking this course you will learn the necessary knowledge and skills needed to effectively manage payroll and finances in a company. So why wait? Start learning today.
Module 1
Principles
In this module, Principles, students will learn about The eleven generally accepted accounting principles. They will also learn about The Accounting Equation. Students will also learn debit and credit rules in this module. The course will also provide an analysis of transactions made by a company.
Module 2
Overview of Internal Controls
In this module, Overview of Internal Controls, students will learn about the need for internal controls. It will also cover principles of internal control. It module will also go over several control concepts. Students will also revive an overview of internal control. They will also learn about the audit process.
Module 3
Subsidiary Ledgers and Special Journals
In this module, Subsidiary Ledgers and Special Journals, students will learn about subsidiary ledgers. Students will also learn about using special journals in this module. It will also go over posting sales journals at the end of the week. The module then covers cash receipts and posting cash receipts.
Module 4
Reconciliations
In this module, NAME OF Module, students will learn about what reconciliation is. Students will also learn about reconciling items and unreconciled differences. The module will also go into detail about who should perform a reconciliation as well as who can review a reconciliation. It will also cover what a roll-forward analysis is.
Module 5
Correcting Entries
In this module, Correcting Entries, students will learn about correcting entries and how to properly correct errors when bookkeeping. The module will provide examples of different kinds of mistakes that are made while bookkeeping. The module will also cover different methods for fixing these types of mistakes.
Module 6
Sales Tax
In this module, Sales Tax, students will learn about sales tax. The module will teach students how to calculate sales tax. It will also cover recording transactions for sales tax. Students will also learn how to pay the collected taxes. It will also touch on the different rules when filing in each state.
Module 7
Budgeting
In this module, Budgeting, students will learn about budgeting for a company. The module will cover a business's strategic plan and its impact on setting an annual budget. This includes budgeting strategies for smaller companies. Students will also learn about different types of budgets. It will also go into detail about a bookkeeper's role in budgeting.
Module 8
Accounting for Merchandising
In this module, Accounting for Merchandising, students will learn about income from merchandising companies. Students will also learn about a merchandising Income statement. This module will also go into detail about when a credit note is issued to the customer. Students will also learn about calculating sales discounts.
Module 9
Accounting for Cash
In this module, Accounting for Cash, students will learn about petty cash. This also includes accounting for petty cash. Students will learn about filling out a petty cash voucher as well as a petty cash journal. The module will also cover accounting for cash over or short. It will also go into detail on good cash control in a retail business.
Module 10
Payroll
In this module, Payroll, students will learn about the payroll process. The topic will go into depth on gross pay for both hourly employees and salaried employees. Students will then learn about taxes and deductions in the payroll process. This also includes voluntary deductions and state tax rates.
Module 11
Partnerships and Corporations
In this module, Partnerships and Corporations, students will learn about business partnerships. Specifically, the module will focus on accounting in a business partnership. This includes the process of admitting a new partner and the drawing account. Students will also learn about what happens in the event of a partner withdrawal or the unexpected death of a partner. Finally, the module will cover stocks.
Module 12
Accounts Receivable and Bad Debts
In this module, Accounts Receivable and Bad Debts, students will learn about accounts receivable. The module will also cover ageing reports and the Balance sheet for accounts receivable. Students will also learn about bad debts. This includes writing off bad debts. This module will also talk about the sale of receivables.
Module 13
Interim Profit or Loss
In this module, Interim Profit or Loss, students will learn about preparing interim statements. Students will get a breakdown of the importance of an interim statement. The module will demonstrate the layout of the interim statement. This module will also provide examples of a statement indicating a loss and a statement indicating a profit.
Module 14
Year End - Preparing to Close the Books
In this module, Year End - Preparing to Close the Books, students will learn about the end-of-the-year responsibilities that come with bookkeeping. Students will learn about adjusting entries and adjusting entry types. The module will also go into detail about inventory. It will also cover the spreadsheets at the end of the year.
Module 15
Year End - Closing the Books
In this module, Year End - Closing the Books, students will learn about closing the books at the end of the year. The module will cover closing journal entries for both permanent and temporary accounts. Students will also learn about year-end financial statements. This includes a breakdown of the income statement and the balance sheet.
Module 16
Cash Flow
In this module, Cash Flow, students will learn about cash flow. The module will cover the categories of cash flow. It will also talk about cash from operations. This module will compare the indirect method and the direct method. Students will also learn about maximizing cash flow and the cash cycle.
Module 17
Course assessment
Program Outcome
What You Will Learn In This Free Course
- Evaluate payroll for salaried and hourly employees.
- Outline an effective budgeting strategy for a fiscal year.
- Arrange Subsidiary Ledgers and Special Journals.
- Describe the relationship in a business partnership.
- Outline cash flow from operations, investing, and financing.
- Explain GAAP and how these principles come into play in bookkeeping.
- Categorize and organize accounts receivable to ensure payments are organized and received.
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Career Opportunities
Accountant
“Behind every good businessman is a great accountant” to ensure an organization’s financial records are accurate and appropriate taxes are paid on time. An Accountant provides the information needed by investors and business owners to evaluate how a company is doing. And “accountants do it all without losing their balance.”
Tax Preparer
A tax is a compulsory contribution paid by an individual to the government to facilitate welfare and equality for one and all. This welfare system functions efficiently due to the assistance of Tax Preparers, who conduct tax audits, research tax laws and submit the correct tax forms before deadlines.
Tax Accountant
A Tax Accountant is a financial wizard “who does precision guesswork based on unreliable data provided by those of questionable knowledge.” On a more serious note, they understand tax reporting requirements and prepare tax returns for both individuals and multinational corporations.