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.
Terms of Use: Please respect the copyright and terms of use
displayed on the webpage above.
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.
Terms of Use: Please respect the copyright and terms of use
displayed on the webpage above.
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.
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.
8.3.2 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.
[Submit Materials](/contribute/)
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.
Terms of Use: Please respect the copyright and terms of use
displayed on the webpage above.