About the Course:
The Professional Academy Diploma in Bookkeeping and Payroll Management provides an overview of two crucial functions that support every business: maintaining accurate records of the financial affairs of a business, and employee payment within the current legal and tax framework.
The course has two parts:
In the first one, you will learn the essential terminology and concepts of bookkeeping, and how to manage ledgers, balances and statements, such as financial and cash flow statements.
In the second part of the course, you will learn about the payroll process, the terms used, relevant legislation, PAYE, calculating tax credits, and the process of setting up new employees. You will also have the opportunity to use payroll software to understand common interface elements that should help you to quickly identify similar payroll platforms with ease.
To get the most out of the course, learners should be comfortable reading and interpreting tabulated numerical information, as well as performing basic mathematical operations such as calculating percentages.
Prospective learners for whom English is not a native language are welcome to undertake the course. It is the responsibility of the learner that their proficiency in English is equivalent to IELTS level 6.5 or higher to participate and complete assignments successfully.
Learners must have a computer, broadband connection, and audio capable of running Zoom sessions. The second part of the course will require learners to install Thesaurus Payroll Manager, or have access to the software. Learners must ensure that they have permissions to install software on their computers. The software is compatible with Windows versions 7 through 11.
By the end of this course, learners will be able to:
- Apply the principles and practices of bookkeeping, and related terminology
- Read, interpret and produce day books, ledgers, closing balances, trial balances, cash flow statements and financial statements
- Describe the payroll process, its terminology and applicable legislation
- Set up new employees, determine their tax credits and cut offs, PAYE, USC
- Use payroll software
- Live Online Part-time: One evening per week; 6:30pm to 9:30pm for 12 weeks
|1.||Bookkeeping: Introduction||Discover the world of bookkeeping through its basic concepts and language.||● Basic concepts
● Source documents
● Day books/books of prime entry
|2.||Bookkeeping: Double Entry||Discover why ‘double entry’ is one of the most important foundational concepts in bookkeeping and how it helps to ensure that a company’s
accounts remain balanced.
|● Double entry concepts
● Ledgers and closing balances
● Ledgers balances to trial balance
|3. Bookkeeping: Financial Statements||Learn about financial statements and how they provide insights into a company’s financial health and business activities.||● Introduction to financial statements
● Trial balance to financial statements
● Financial statements – explanation and interpretation
|4. Bookkeeping: Financial
Statements & Statements of Cash Flow
|Explore how cash flow statements link
to other financial statements.
|● Financial reporting
● Cash flow statements
● The importance of cash
|5. Bookkeeping: Financial Reporting & Computerised Finance Systems||Learn how using accounting software systems makes it easier to produce outputs such as financial reports.
Explore reporting using Sage 50.
|● Financial reporting systems
● Financial reporting using Sage 50
● Outputs: reports, downloads, etc
Finance Function of an Organisation
|Discover how an SME finance
department works and how financial information flows into other areas of business management.
|● The finance function of
● Strategic financial management
● Sources of finance
|7. Payroll: Introduction||Discover how the payroll process works, as well as the legal and tax implications of paying salaries.||● Introduction to the payroll process
● Payroll terminology and legislation
● Employment contracts
|8.||Payroll: The Payroll Process||Discover what new obligations an employer has since Ireland’s PAYE Modernisation in January 2019, and how reporting is managed through Revenue Online Services (ROS).||● PAYE: tax credits and SRCOP
● PRSI and USC
● PAYE modernisation
|9. Payroll: Computerised Payroll Using Thesaurus Software||Learn how computerised payroll systems work. Set up a new company||● Introduction to computerised payroll
● Installation process
|and payroll in a computerised system
|● Reporting and PAYE
|10. Payroll: Entering Employee Information||Set up new employees, pay codes, and deduction codes in a computerised system.||● Setting up a company
● Setting up employees
● Tax, USC and PRSI details
|11. Payroll: Entering Payroll Information||Learn how to manage employee timesheets and produce payslips.||● Entering employee timesheets
|12. Payroll: Computerised Payroll Process – Reports and Backup||Learn how to run different payroll reports and how to keep payroll data safe.||● Gross to net report
● Earnings, tax and PRSI
● Backup and security
|Double Entry Quiz (MCQ)||5%||Week 2|
|Ledgers to Trial Balance Exercise||10%||Week 3|
|Financial Statements Exercise||15%||Week 5|
|Cash Flow Statements Exercise||20%||Week 6|
|Payroll Legislation Questions||5%||Week 7|
|Payroll Process Questions||5%||Week 8|
|Final Payroll Software Exercise||40%||2 weeks after course completion|
This course is assessed through continuous assessment quizzes, exercises and a final practical assessment using payroll software to process employee information.