Payroll

Course details

Course Aim and Opportunities

• This course aims to give participants the knowledge and skills to carry out the payroll function in a small or medium enterprise.
• Participants will learn how to manually calculate wages and income tax, set up and maintain computerised payroll systems and make revenue returns according to the latest Finance Acts and regulations.
• The qualification is a good addition to the CV of anyone wishing to improve career prospects in office administration or payroll.
• Successful candidates can go on to study other business modules and progress to further qualifications in business or management

Course Content

Unit 1 Manual Payroll

• Define taxable incomes, gross pay, net pay, superannuation/pension
• Tax credits, standard rate cut-off point, gross tax, net tax, PAYE, PRSI
• Calculate gross pay including overtime, bonuses, commissions, holiday pay.
• Calculate employee’s net annual tax for the year.
• Cumulative, emergency and temporary tax deduction systems.
• Operation of cumulative, emergency and temporary tax systems.
• Explain and complete P45, P60, P30, P35.
• Calculate employee and employer PRSI in the various classes.
• Employee Refunds
• Calculate employee annual net pay to include marital status, pension
• contributions, tax credits and standard rate cut-off point.
• Compare tax liabilities for joint and single assessment.
• Calculate effects of the budget on an Individual’s take home pay.

Unit 2 Computerised Payroll

• Enter company and employee details frequency, method, type.
• Process the payroll regularly for a number of employees.
• Edit employee data, e.g. change in pay, tax credits, etc.
• Print payroll management reports.
• Update records at end of period, i.e., close off.
• Exit, save, and backup data.
• Outline the importance of password protection and security.

Course Work

• Assignment (60%): Candidates will complete payroll for a group of staff and make revenue returns.
• Examination (50%): Candidates will set up employees on a computerised payroll package, process payroll, print payslips and reports, print revenue documents, backup etc.