Professional Academy Diploma in Bookkeeping & Payroll

Bookkeeping
Understand and apply the techniques learnt to produce accounts using the industry-standard accounting software Sage. Comparisons are made between manual and computerised systems and various scenarios illustrate the procedures for the setup and updating of a computerised accounts system.

• The introduction to bookkeeping principles.
• Double entry concepts, ledgers, closing balances and trial balance.
• Financial statements and cash flow:
  • Understand the link between cash flow statements and other statements.
  • Financial reporting.
  • Importance of cash flow.
• Learn how to use accounting software systems:
  • Gain the skills and knowledge in Bookkeeping and Payroll using the industry-standard Sage Professional Accounting and Sage Micropay Professional Payroll software.
• Understanding the finance function of an organisation:
  • Strategic financial management.
  • Sources of finance.

Unit 1: This unit will give an outline of the overall operation of payroll taxation in Ireland. It introduces students to the terminology used and overall calculation of pay and taxation issues including an examination of various credits and reliefs. You will also be introduced to computerised payroll (Thesaurus Software).

Unit 2: Employment Legislation in Ireland - the essential elements of employment law in operation across Ireland.

Unit 3: Revenue administration and ROS outlining how the PAYE system is operated by each employer under the management of the Revenue Commissioners.

Unit 4: PAYE System and Operation examines the PAYE system in operation and the calculation of operation of PAYE. Particular attention is given to the completion of the Tax Deduction Card system.

Unit 5: Operation of PRSI System and Calculation examines the calculation and operation of PRSI. Rules and regulations in deducting PRSI and an introduction into what entitlements certain contributions bestow.

Unit 6: Operation Of USC and Calculation looks at the way USC is calculated and deducted.

Unit 7: Payments and Deductions and calculating Net Pay examines the various statutory and non-statutory payments and deductions. This also deals with Benefits in Kind scenarios.

Unit 8: Computerised Payroll using Sage Payroll applies the techniques learnt in a computerised system. Practical examples in carrying out a payroll using the industry-standard sage payroll software. Comparisons will be made between manual and computerised systems of payroll calculations.

This course is designed to enable you to develop your career with many opportunities in the field of accounting, finance and payroll or progress to further or higher education

• Understand key terminology associated with personal taxation in preparing and maintaining payroll records.
• Advantages and disadvantages of a computerised VS. manual system for payroll processing purposes.
• Process the payroll for employee(s); various elements of gross pay, holidays, unpaid leave, cut-off points, credits, all statutory and non-statutory deductions.
• Understand emergency and temporary tax systems and subsequent transfer to the cumulative tax system.
• The changes in personal tax due to various factors to include; mid-year commencement and leaving of employment, changes in credits, refunds.
• Extract information from completed records to prepare all necessary mid-year and year end tax forms for employees.
• Extract information from completed records to prepare all necessary end-of-period and year end returns and tax forms for the Revenue Commissioners.
• Analyse the impact of changes in legislation on personal tax and take-home.
• Print a selection of reports after backing up computerised data on a suitable medium.