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Learn the basics of Payroll for free!

Welcome to the Bookkeeping Master's free payroll training!


You will learn...

1. the basics of payroll accounting

2. payroll journal fundamentals


To start the online course, please use the links below...

This course is FREE and no registration is required!

FREE trial on Payroll Software?

Click here for a FREE 30-day trial (UK link)
Click here for a free trial (US link)

The FREE Online Payroll Course

The Complete Payroll Process - how to do payroll - click here

Wages Journals - how to do payroll accounting - click here

Gain a Payroll Qualification / Certification - click here

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Payroll Basics Course - Part 1

Payslip Explanation

Gross Wages

Net Wages

Payroll Software

The Payroll Process

And more...

Payroll Basics Course - Part 2

Wages Journals

Gross Pay Journal

Employers NI Journal

Net Payment Journal

Tax Payment Journal


Payroll Basics Part 2

Payroll - Key Points

What is payroll? 

Payroll is the accounting of employees wages and salaries. It includes accounting for gross wages, net wages, bonuses, commissions, tax deductions, student loan deductions, national insurance payments (social security), benefits-in-kind and other important information. Payroll accounting also includes reporting to governmental bodies, such as HMRC. 

Why does payroll need to be done?

Employees need to be paid. Accurate payroll accounting ensures that these payments are correct and that necessary deductions and tax payments are made and reported. 

What's involved in payroll accounting?

The payroll process can be broken into five main steps... 

1. Collection of data. This includes collecting data regarding employees; employee name, employee address, identification number, etc, etc. This also includes collecting data on how much employees have earned i.e. A fixed salary, hours worked, commissions earned, etc, etc. 

2. Processing payroll. This is completed using payroll software. A major part of this step is to enter wage data into the software, which will then produce payslips for each employee. This step can also include creating year end reports for employees, such as P60's. 

3. Submission of data. Once all data has been entered into payroll software, the information needs submitting to the appropriate governmental bodies. There are usually submission deadlines - so ensure everything is submitted in time!

4. Wages journals. All wages, salaries, deductions, and payments must be accounted for in the financial accounts. This is usually done through a series of journals, that reflect the expense and liabilities caused by the payroll process. 


5.  Make payment. Any monies owed to employees and governmental bodies are paid. 

Ready to take accounting more seriously?

Take bookkeeping and accounting to the next level by enrolling in the Bookkeeping Master's Ultimate Bookkeeping Course

Gain a certificate of completion 

Learn bookkeeping and accounting for limited companies

Learn how to create year-end accounts

Learn advanced accounting principles

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