Payroll Accounting 2004

by Bieg, Bernard

• ISBN13: 9780324188585
• ISBN10: 0324188587
• Edition: CD
• Format: Paperback
• Copyright: 2003-11-06
• Publisher: South-Western College Pub

Table of Contents

1 THE NEED FOR PAYROLL AND PERSONNEL RECORDS	1-2	(1)
The Payroll Profession	1-4	(1)
Fair Labor Standards Act	1-5	(1)
State Minimum Wage and Maximum Hours Laws	1-5	(1)
Federal Insurance, Contributions Act (FICA)	1-7	(1)
Income Tax Withholding Laws	1-7	(1)
Unemployment Tax Acts	1-7	(1)
Fair Employment Laws	1-8	(1)
Other Federal Laws Affecting the Need for Payroll and Personnel Records	1-10	(1)
Other State Laws Affecting the Need for Payroll and Personnel Records	1-12	(1)
Human Resources and Payroll Accounting Systems	1-13	(1)
Human Resources System	1-13	(1)
Payroll Accounting System	1-19	(1)
Outsourcing Payroll	1-21	(1)
Questions and Problems	1-22	(1)
2 COMPUTING AND PAYING WAGES AND SALARIES	2-2	(1)
The Fair Labor Standards Act	2-4	(1)
Determining Employee's Work Time	2-13	(1)
Records Used for Timekeeping	2-15	(1)
Methods of Computing Wages and Salaries	2-21	(1)
Questions and Problems	2-29	(1)
3 SOCIAL SECURITY TAXES	3-2	(1)
Coverage Under FICA	3-4	(1)
A Self Employed Person	3-13	(1)
Application for Employer Identification Number (Form SS-4)	3-14	(1)
Employee's Application fur Social Security Card (Form SS-5)	3-16	(1)
Returns Required for Social Security Purposes	3-18	(1)
Preparing Form 941 (Employer's Quarterly Federal Tax Return)	3-24	(1)
Failure-to-Comply Penalties	3-29	(1)
Questions and Problems	3-31	(1)
4 INCOME TAX WITHHOLDING	4-2	(1)
Coverage Under Federal Income Tax Withholding Laws	4-4	(1)
Withholding Allowances	4-9	(1)
Federal Income Tax Withholding	4-13	(1)
Other Methods of Withholding	4-16	(1)
Supplemental Wage Payments	4-17	(1)
Advance Earned Income Credit	4-19	(1)
Tax-Deferred Retirement Accounts	4-22	(1)
Wage and Tax Statements	4-24	(1)
Returns Employers Must Complete	4-29	(1)
Information Returns	4-29	(1)
Independent Contractor Payments	4-30	(1)
Backup Withholding	4-30	(1)
Magnetic Filing Form W-2 and Information Returns	4-31	(1)
Withholding State Income Tax	4-31	(1)
Questions and Problems	4-35	(1)
5 UNEMPLOYMENT COMPENSATION TAXES	5-2	(1)
Coverage Under FUTA and SUTA	5-4	(1)
Unemployment Compensation Taxes and Credits	5-10	(1)
Unemployment Compensation Reports Required of the Employer	5-19	(1)
Unemployment Compensation Benefits	5-28	(1)
Questions and Problems	5-31	(1)
6 ANALYZING AND JOURNALIZING PAYROLL TRANSACTIONS	6-2	(1)
The Payroll Register	6-4	(1)
The Employee's Earnings Record	6-6	(1)
Recording the Gross Payroll and Withholdings	6-8	(1)
Methods of Paying Wages and Salaries	6-10	(1)
Recording Payroll Taxes	6-13	(1)
Recording Workers' Compensation Insurance Expense	6-17	(1)
Recording the Deposit or Payment of Payroll Taxes	6-18	(1)
Recording End-of-Period Adjustments	6-19	(1)
Recording Transactions Pertaining to Other Payroll Deductions	6-20	(1)
Summary of Accounts Used in Recording Payroll Transactions	6-23	(1)
Illustrative Case	6-24	(1)
Questions and Problems	6-31	(1)
7 PAYROLL PROJECT	7-2
Books of Account and Payroll Records	7-4	(1)
General Information	7-5	(1)
Narrative of Payroll Transactions	7-9	(1)
Questions on the Payroll Project	7-23	(1)
Employees' Earnings Records	7-43	(3080561)
APPENDIX A: COMPUTERIZED PAYROLL	A-1
Introduction	A-2
Software Program Overview	A-2
Start-Up Procedures	A-3
Basic Operating Procedures	A-4
File Menu	A-11
Options Menu	A-12
Employee Maintenance	A-14
Payroll Transactions	A-16
Generate and Post Payroll Journal Entries	A-18
Generating the Current Payroll Journal Entries	A-18
Key General Journal Entries	A-19
Reports Menu	A-22
Printing the Contents of a Report Window	A-22
Employee List Report	A-22
Graphs	A-24
Help Menu	A-25
Payroll Project	A-25
Optional Activities	A-40
Student Project Audit Test	A-43
APPENDIX B: EXCEL TEMPLATE INSTRUCTIONS FOR THE GLO-BRITE PAYROLL PROJECT	B-1
Getting to Know Excel	B-1
APPENDIX C: SOCIAL SECURITY BENEFITS	C-1
What Factors Are Used to Determine Social Security Benefits	C-2
What Benefits Are Provided by Social Security?	C-3
What Are Reduced Benefits?	C-5
How Does Working After Retirement Affect Social Security Benefits?	C-6
How Do You Apply for Social Security Benefits?	C-7
What Is Medicare?	C-8
Key Terms	C-8
Tax Table A: Tables for Percentage Method of Withholding	T-1
Tax Table B: Wage-Bracket Withholding Tables	T-5
Answers to Self-Study Quizzes	S-1
Check Figures	CF-1
Glossary	G-1