Course Overview

In this session, we explore Payroll Accounting, a crucial aspect of managing employee compensation and ensuring accurate financial records. Payroll accounting involves recording all payroll-related transactions, including wages, salaries, bonuses, and deductions, to provide a clear picture of a company’s financial obligations to its employees. This process also includes tracking statutory deductions such as income tax, social security, and other withholdings. Understanding payroll accounting is essential for accurate financial reporting, tax compliance, and maintaining proper internal controls.

Participants will learn how to record payroll expenses in the general ledger, allocate costs across departments, and reconcile payroll liabilities. This session emphasizes the importance of maintaining organized payroll accounts to avoid discrepancies and meet regulatory requirements. Attendees will also gain insights into using payroll accounting software to automate record-keeping, ensuring efficiency and accuracy. By the end of this session, you will be equipped with the skills to manage payroll accounts effectively, supporting both operational and compliance needs.