Payroll Accounting 2006 (with Klooster & Allen Payroll CD-ROM and ADP’s PC Payroll for Windows CD-ROM)

by Bieg, Bernard J.

• ISBN13: 9780324313093
• ISBN10: 0324313098
• Edition: 16th
• Format: Paperback
• Copyright: 2005-10-31
• Publisher: South-Western College Pub

Summary

The 2006 Edition of PAYROLL ACCOUNTING gives you firsthand experience in calculating payroll, completing payroll taxes, and preparing records and reports. With its cutting-edge technology package and up-to-the minute information, Bieg continues to be the market-leading Payroll Accounting text. No other text covers payroll laws and practices so thoroughly, or makes them so relevant to today's business world.

Table of Contents

The Need for Payroll and Personnel Records	2	(1)
The Payroll Profession	4	(1)
Fair Labor Standards Act	5	(1)
State Minimum Wage and Maximum Hours Laws	5	(2)
Federal Insurance Contributions Act	7	(1)
Income Tax Withholding Laws	7	(1)
Unemployment Tax Acts	8	(1)
Fair Employment Laws	8	(2)
Other Federal Laws Affecting the Need for Payroll and Personnel Records	10	(3)
Other State Laws Affecting the Need for Payroll and Personnel Records	13	(1)
Human Resources and Payroll Accounting Systems	13	(1)
Human Resources System	14	(5)
Payroll Accounting System	19	(4)
Questions and Problems	23
Computing Wages and Salaries	2	(1)
The Fair Labor Standards Act	4	(10)
Determining Employee's Work Time	14	(3)
Records Used for Timekeeping	17	(5)
Methods of Computing Wages and Salaries	22	(9)
Questions and Problems	31
Social Security Taxes	2	(1)
Coverage Under FICA	4	(9)
A Self-Employed Person	13	(2)
Application for Employer Identification Number (Form SS-4)	15	(1)
Employee's Application for Social Security Card (Form SS-5)	15	(3)
Returns Required for Social Security Purposes	18	(6)
Preparing Form 941 (Employer's Quarterly Federal Tax Return)	24	(7)
Failure-to-Comply Penalties	31	(2)
Questions and Problems	33
Income Tax Withholding	2	(1)
Coverage Under Federal Income Tax Withholding Laws	4	(5)
Tax-Deferred Retirement Accounts	9	(2)
Withholding Allowances	11	(4)
Federal Income Tax Withholding	15	(3)
Other Methods of Withholding	18	(1)
Supplemental Wage Payments	19	(2)
Advance Earned Income Credit	21	(4)
Wage and Tax Statements	25	(6)
Returns Employers Must Complete	31	(1)
Information Returns	32	(1)
Independent Contractor Payments	33	(1)
Backup Withholding	33	(1)
Electronic Filing Form W-2 and Information Returns	34	(1)
Withholding State Income Tax	34	(3)
Questions and Problems	37
Unemployment Compensation Taxes	2	(1)
Coverage Under FUTA and SUTA	4	(6)
Unemployment Compensation Taxes and Credits	10	(9)
Unemployment Compensation Reports Required of the Employer	19	(8)
Questions and Problems	27
Analyzing and Journalizing Payroll Transactions	2	(1)
The Payroll Register	4	(2)
The Employee's Earnings Record	6	(2)
Recording the Gross Payroll and Withholdings	8	(6)
Methods of Paying Wages and Salaries	14	(3)
Recording Payroll Taxes	17	(4)
Recording Workers' Compensation Insurance Expense	21	(1)
Recording the Deposit or Payment of Payroll Taxes	22	(1)
Recording End-of-Period Adjustments	23	(2)
Summary of Accounts Used in Recording Payroll Transactions	25	(1)
Illustrative Case	25	(8)
Questions and Problems	33
Payroll Project	2
Books of Account and Payroll Records	4	(1)
General Information	5	(4)
Narrative of Payroll Transactions	9	(34)
Employees' Earnings Records	43
APPENDIX A: COMPUTERIZED PAYROLL ACCOUNTING	1	(1)
Introduction	1	(1)
Software Program Overview	1	(1)
Start-Up Procedures	2	(1)
Basic Operating Procedures	2	(8)
File Menu	10	(1)
Options Menu	11	(1)
Employee Maintenance	12	(1)
Payroll Transactions	13	(1)
Generate and Post Payroll Journal Entries	13	(1)
Generating the Current Payroll Journal Entries	14	(5)
Reports Menu	19	(2)
Printing the Contents of a Report Window	21	(1)
Employee List Report	21	(2)
Graphs	23	(1)
Help Menu	23	(1)
Payroll Project	24	(14)
Optional Activities	38	(3)
Student Project Audit Test	41
APPENDIX B: EXCEL TEMPLATE INSTRUCTIONS FOR THE GLO-BRITE PAYROLL PROJECT	1	(1)
Getting to Know Excel	1	(1)
APPENDIX C: SOCIAL SECURITY BENEFITS	1	(1)
What Factors Are Used to Determine Social Security Benefits?	1	(2)
What Benefits Are Provided by Social Security?	3	(2)
What Are Reduced Benefits?	5	(1)
How Does Working After Retirement Affect Social Security Benefits?	5	(2)
How Do You Apply for Social Security Benefits?	7	(1)
What Is Medicare?	7
APPENDIX D: UNEMPLOYMENT BENEFITS	1	(1)
Unemployment Compensation Benefits	1	(1)
Tax Table A: Tables for Percentage Method of Withholding	1	(4)
Tax Table B: Wage-Bracket Withholding Tables	5
Answers to Self-Study Quizzes	1	(1)
Check Figures	1	(1)
Glossary	1	(1)
Index	1