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PRDV204: Payroll Applications

Unit 8: Payroll Accounting  

To ensure that accurate records are tracked and maintained, you need a formalized system for identifying payroll transactions.  Payroll accounting is a subdiscipline of accounting that focuses on identifying, verifying, recording, and reporting payroll transactions.  This unit will provide you with a core understanding of employee payroll transactions.

Unit 8 Time Advisory
This unit should take you approximately 3 hours to complete.

☐    Subunit 8.1: 75 minutes

☐    Subunit 8.2: 30 minutes

☐    Subunit 8.3: 65 minutes

☐    Subunit 8.4: 10 minutes

Unit8 Learning Outcomes
Upon successful completion of this unit, the student will be able to:
- Understand and compute payroll accounting calculations and solve payroll accounting problems.

8.1 Payroll Accounting Defined   - Reading: Accountingcoach.com’s Payroll Accounting Link: Accountingcoach.com’s Payroll Accounting (HTML)
 
Instructions: Click on the link above, which will take you to the main page. Note the listing of Part 1 through Part 6 at the top of the page - you should read all six parts. This reading will give you insight to support your understanding of how to approach the calculation of payroll taxes and benefits. It is important to note that there are a lot of online calculators to assist you with completing these calculations.

 Completing this reading should take you approximately 75 minutes.  

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8.2 Payroll and Accruals   8.2.1 Payroll Accrual Basics   - Reading: Chron.com: Devra Gartenstien’s "How to Calculate Payroll Accruals" Link: Chron.com: Devra Gartenstien’s "How to Calculate Payroll Accruals" (HTML)
 
Instructions: To review this part of the course click on the link above.  In this part of the course you will gain insight to support your understanding of how to approach the calculation of payroll taxes and benefits.  It is important to note that there are a lot of online calculators to assist you with completing these calculations.
 
Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.
 
This reading should take you approximately 5 minutes to complete.

8.2.2 Calculating Payroll Accruals   - Reading: Simplestudies.com’s "How to Calculate Accrued Payroll" Link: Simplestudies.com’s "How to Calculate Accrued Payroll" (HTML)
 
Instructions: To review this part of the course click on the link above.  In this part of the course you will gain insight to support your understanding of how to calculate payroll accruals.  The reading uses a series of examples to help explain the process.  To ensure that you obtain all of the material in this section of the course, please be sure you click the next page hyperlink located on the bottom right-hand side of the reading. 
 
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This reading should take you approximately 25 minutes to complete.

8.3 Payroll Accounting Summary   8.3.1 The Basics of Payroll Accounting Procedures   - Reading: Chron.com: David Ingram’s "Payroll Accounting Procedures" Link: Chron.com: David Ingram’s "Payroll Accounting Procedures" (HTML)
 
Instructions: To review this part of the course click on the link above.  In this part of the course you will receive a summary of the various components of the payroll accounting process.  This section of the course is a summary of the tasks that are included within each aspect of payroll accounting.  
 
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This reading should take you approximately 5 minutes to complete.

8.3.2 Time Reporting and Tracking   - Reading: Trackmypeople.com’s "Simple Time Management" The Saylor Foundation does not yet have materials for this portion of the course. If you are interested in contributing your content to fill this gap or aware of a resource that could be used here, please submit it here.

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8.4 Payroll Accounting Assessment   - Assessment: Accountingcoach.com’s "Payroll Accounting Quiz" Link: Accountingcoach.com’s "Payroll Accounting Quiz" (HTML)
 
Instructions: Complete this quiz, which is not graded. You should view this assessment as a review of content that you should have learned in this section of the course. To check your answers, click on the answer (for multiple choice questions) or on the blank space (for fill-in-the-blank questions). 
 
This assessment should take you approximately 10 minutes to complete.

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