with CEU Certificate
There are many aspects that need to be covered when running a successful business. One of the most important aspects in any business is of course, payroll management. The members of the business involved in payroll management have unique responsibilities to ensure that the business operations can maintain momentum. In essence, the payroll management team is at the heart of any business.
While managing the payroll may seem easy enough, it is actually a complicated process involving finance and record keeping. Payroll Management 101 provides you with the information and guidance to become a key member of the payroll management team. The curriculum is designed to give an overview of all the core skills you will be required to attain in an easy to read manner. Most importantly, Payroll Management 101 provides you with the tools to quickly start using your new vocational skills in an operational environment.
By covering the topics contained in Payroll Management 101, you can be assured that you will have the necessary skills and abilities to tackle just about any payroll projects you are assigned. The course has been designed to assist not only people involved solely in payroll management, but also for small business owners, and business people looking to get the edge over their competitors. Written for both seasoned professionals and business newcomers Payroll Management 101 is sure to provide you with all you need to know.
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Lesson 1: Introduction to PayrollThe payroll staff is a vitally important part of any large company. It has an important part to play in the record-keeping that is vital in a major company with lots of employees.
Lesson 2: Record-keepingThe payroll department of each business is charged with the responsibility of keeping a vast range of records on the company's workforce.
Lesson 3: Employee RecordsEvery company needs to record information on its employees. The importance of keeping full, relevant information on its employees is essential for any company.
Lesson 4: Salary PaymentsPaying employees has become a far more streamlined process in recent years, with the option for companies to transfer payments electronically to their workforce by means of automated payments.
Lesson 5: DeductionsThere are certain standard deductions that will make their way onto all pay stubs, and as many again that appear on almost all of them. Non-mandatory deductions from a paycheck are more usually called "benefits."
Lesson 6: Pay StubsPay stubs are a major part of the record-keeping process for any company with a payroll, and they should also be part of any employee's records.
Lesson 7: Understanding All Parts of a Pay StubHow to read all parts of a pay stub, including all medical benefits/deductions, all 401K deductions, state, federal taxes, vacation, sick time, everything. In great detail.
Lesson 8: Tax ConsiderationsThere is a range of factors that govern how much tax each individual will pay. As a payroll professional, one of your responsibilities will be calculating how much tax employees must pay on their earnings.
Lesson 9: How to Determine and Pay State and Federal TaxesHow to determine and pay federal taxes. How to generically go about paying state payroll taxes and unemployment. How to file information electronically.
Lesson 10: Dealing With Outside ContractorsBecause of the nature of consulting work, compensation for consultants is a great deal more flexible in terms of payments and governing rules than everyday salaried work, which must conform to a government standard.
Lesson 11: Sick and Maternity LeaveAllowing workers to take some time away from their job to deal with the priorities of caring for their family, recovering from an illness, or having a baby is profitable for a company.
Lesson 12: PensionsThe idea of a pension is to provide financial stability during retirement and, if workers have saved enough, to allow them to enjoy the years after they stop working for a living.
Lesson 13: How 401K Contributions are Calculated and DeductedHow 401k (including company matching), sick time, vacation time, pensions, health insurance, maternity leave, and other benefits are calculated and deducted from an employee's pay listing with specific examples.
Lesson 14: Dealing with 401K ContributionsAn entire lesson on 401(k) contributions, the types of plans available, the tax implications for both employers and employees, how company matching works.
Lesson 15: Preparing and Filing Form W2An entire lesson on the W2, what information is give on it, with actually specific examples that include 401K deductions/benefits, state/federal taxes, etc.
Lesson 16: Dealing with ErrorsPayroll departments are staffed by humans,just like any department of any business, and therefore errors will be made.
Lesson 17: Payroll SoftwareThe main way that a payroll department can ease its human workload is to invest in a quality software package.
Lesson 18: Employing Payroll SpecialistsA payroll department is only as good as the people who staff it. It is a business owner's decision how to address this need, and it is on the owner's instincts and preferences that he or she will base the decision.
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Learning OutcomesBy successfully completing this course, students will be able to:
- Define payroll management.
- Describe the requirements for record keeping.
- Describe the requirements for retaining employee records.
- Summarize salary payments.
- Summarize deductions.
- Summarize payslips.
- Define tax considerations.
- Describe dealing with outside contractors.
- Describe handling sick and maternity leave.
- Describe handling pensions.
- Describe dealing with errors, and
- Demonstrate mastery of lesson content at levels of 70% or higher.
|Lesson 1 Assignment||Assignment||2|
|Lesson 1 Exam||Exam||9|
|Lesson 2 Assignment||Assignment||25|
|Lesson 2 Exam||Exam||10|
|Lesson 3 Exam||Exam||9|
|Lesson 4 Exam||Exam||10|
|Lesson 5 Exam||Exam||9|
|Lesson 6 Exam||Exam||10|
|Lesson 7: Understanding the Pay Stub||Exam||9|
|Lesson 8 Assignment||Assignment||5|
|Lesson 8 Exam||Exam||8|
|Lesson 9 Exam: How to Determine Taxes||Exam||10|
|Lesson 10 Exam||Exam||10|
|Lesson 11 Exam||Exam||9|
|Lesson 12 Exam||Exam||10|
|Lesson 13 Exam: How 401K Contributions are Calculated||Exam||10|
|Lesson 14 Exam: 401 Contributions||Exam||10|
|Lesson 15 Exam: Preparing and Filing Form W2||Exam||10|
|Lesson 16 Assignment||Assignment||5|
|Lesson 16 Exam||Exam||10|
|Lesson 17 Exam||Exam||10|
|Lesson 18 Assignment||Assignment||5|
|Lesson 18 Exam||Exam||10|
|The Final Exam||Exam||110|
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