Payroll Processing

About this course

Curriculum

1. 01

   Lesson 1: Understanding the Payroll Cycle and Payroll Responsibilities

   Learn the complete payroll cycle from employee setup through wage calculation, deductions, tax deposits, payroll reporting, recordkeeping, and year-end forms, while understanding the employer’s responsibilities for accurate and timely payroll processing.

   5m
2. 02

   Lesson 2: Employees, Independent Contractors, and Worker Classification

   Learn how to distinguish employees from independent contractors, understand why worker classification matters for payroll and tax reporting, evaluate behavioral and financial control, review the nature of the working relationship, identify common misclassification risks, and apply practical classification procedures before workers are added to payroll or contractor reporting systems.

   5m
3. 03

   Lesson 3: Employee Setup, Form W-4, Payroll Records, and New-Hire Information

   Learn how to properly set up new employees for payroll, collect and maintain required payroll documents, understand Form W-4, establish accurate employee records, complete new-hire reporting, protect sensitive information, and create controls that prevent payroll errors before the first paycheck is processed.

   5m
4. 04

   Lesson 4: Calculating Gross Pay, Regular Wages, Overtime, and Other Compensation

   Learn how to calculate employee gross pay, distinguish regular wages from overtime and supplemental compensation, apply pay frequency correctly, identify compensable time, handle bonuses, commissions, shift differentials, and other forms of compensation, and build a reliable review process before payroll is finalized.

   5m
5. 05

   Lesson 5: Payroll Deductions, Federal Withholding, and Employee Net Pay

   Learn how payroll deductions affect employee pay, distinguish pre-tax and post-tax deductions, calculate federal income tax withholding, understand Social Security and Medicare withholding, process voluntary and mandatory deductions, and determine accurate employee net pay.

   5m
6. 06

   Lesson 6: Employer Payroll Taxes, Benefits, Garnishments, and Other Payroll Costs

   Learn how employer payroll taxes and other payroll-related costs are calculated and recorded, including the employer share of Social Security and Medicare, federal and state unemployment taxes, employee benefits, garnishments, workers’ compensation, and other employment costs that increase the total cost of payroll beyond gross wages.

   5m
7. 07

   Lesson 7: Federal Payroll Tax Deposits and Payment Responsibilities

   Learn how federal payroll tax deposits work, how employers determine deposit responsibilities, how payroll tax liabilities are accumulated and paid, why deposit timing differs from payroll frequency, how to use federal payment systems, and how to prevent late-deposit penalties and payroll tax compliance problems.

   5m
8. 08

   Lesson 8: Payroll Tax Returns, Form 941, Form 940, and State Reporting

   Learn how employers report payroll taxes through federal and state payroll tax returns, including Form 941, Form 940, quarterly reconciliation, unemployment reporting, wage and tax reporting, state withholding returns, and the procedures used to identify and correct payroll reporting errors.

   5m
9. 09

   Lesson 9: Recording Payroll, Payroll Liabilities, and Payroll Reconciliation

   Learn how to record payroll in the accounting system, distinguish payroll expenses from payroll liabilities, post payroll journal entries, use payroll clearing accounts, reconcile payroll reports to the General Ledger and bank activity, and identify common payroll accounting errors before they affect financial statements or tax filings.

   5m
10. 10

    Lesson 10: Payroll Corrections, Adjustments, and Resolving Payroll Errors

    Learn how to identify, document, correct, and reconcile payroll errors involving wages, taxes, deductions, direct deposits, employee overpayments and underpayments, prior-period adjustments, amended payroll tax returns, and corrected wage statements while preserving a clear audit trail.

    5m
11. 11

    Lesson 11: Payroll Controls, Recordkeeping, Compliance, and Internal Review

    Learn how to build strong payroll controls, maintain complete payroll records, protect sensitive employee data, assign responsibilities, review payroll activity, detect fraud and errors, document compliance, and create a repeatable internal review process that supports accurate payroll administration.

    5m
12. 12

    Lesson 12: Year-End Payroll, Forms W-2 and W-3, and Preparing for the New Payroll Year

    Learn how to complete the year-end payroll process, reconcile payroll records, prepare and review Forms W-2 and W-3, address taxable fringe benefits and corrections, close out payroll liabilities, verify state and local reporting, and prepare payroll systems, tax rates, employee records, and compliance calendars for the new payroll year.

    5m