Professional Diploma in Bookkeeping & Payroll

This module provides an overview of the learning objectives and an introduction to book keeping.

Nominal and Personal Ledgers

• Concentrating on the process for writing up transactions in the Nominal ledger and updating the personal ledgers.
• The module examines the rules for updating the ledgers and the classification of accounts, process of double entry and method of balancing accounts.
• Alternative layouts of accounts are also presented in this module.

This unit focuses on the purpose and structure of the Day Books.

• The method for writing up transactions and postings to the Nominal ledger.
• The structure examined includes accounting for Vat.
• The analysed daybooks are presented and source documentation used to update the daybooks are identified and studied.

The Cash Book & Petty Cash Book

Here we look at the two column and three column cash book layout and also concentrate on the Petty cash book. The procedure and process for updating both books are covered and the process of updating ledgers.

This unit deals with recording of journal entries such as purchase fixed assets on credit, depreciation, bad debt write offs, credit control , interest charged to debtors, drawings by owner ( other than cash).

The Trial Balance
Here you will learn about the method used to extract a Trial balance.  The various methods to correct errors will be demonstrated and the idea of stock control and purpose of control accounts will be discussed.

Reconciliation Reports
We look at the various reconciliations that are completed periodically - bank reconciliation and debtors and creditors ledger reconciliations.

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.

Unit 1: This unit provides an overview 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.

Unit 2: Employment Legislation in Ireland - here we introduce the essential elements of Employment law in operation in Ireland.

Unit 3: Revenue administration and ROS which outlines 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. It also deals with Benefit 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 the key terminology associated with personal taxation in preparing and maintaining payroll records.
• The advantages and disadvantages of a computerised versus a 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 the emergency and temporary tax systems and subsequent transfer to the cumulative tax system.
• Understand 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.