Level 1 Certificate in Bookkeeping and Payroll 603/3010/7

Overview

Introduces an understanding of basic and technical terms used by bookkeepers and payroll processors

The qualification is made up of:

2 – Online Knowledge Test
4 – Online assignment

Key information:

75 GLH (Guided Learning Hours)
165 hours TQT (Total Qualification Time)

Who is this qualification for?

The Level 1 Certificate in Bookkeeping and Payroll qualification is specifically aimed at leaners who wish to begin their studies of bookkeeping and payroll as well as gaining entry to a Level 1 qualification within the RQF.

What you’ll study

This qualification is made up of the following units:

Principles of Payroll Preparation – Y/616/9096

  • Understand fundamental employment and data protection legislation relevant to payroll
  • Understand what constitutes gross pay for different payroll periods including leavers
  • Understand the difference between statutory and voluntary deductions.
  • Understand the principles of the PAYE & NIC systems in the UK.
  • Understand the information required to prepare and submit an employee payroll record under HMRC Real Time Information regulations
  • Understand the internal and external procedures required for finalising the payroll
  • Understand HMRC reporting requirements

Fundamentals of Payroll Processing – D/616/9097

  • Be able to calculate gross pay for different payroll periods and situations
  • Be able to determine the amount of income tax to be deducted from Gross Pay
  • Be able to determine the amount of National Insurance Contributions to be deducted from Gross Pay
  • Be able to apply voluntary deductions
  • Be able to complete internal and statutory procedures for a leaver
  • Be able to produce the necessary payroll forms and summaries

Computerised Payroll Processing – H/616/9098

  • Be able to set up a computerised payroll system using commercially available payroll software
  • Be able to set up employee records and payroll data on a computerised payroll system
  • Be able to prepare and enter details of gross pay into the computerised payroll system
  • Be able to process the payroll
  • Be able to back up and/or restore payroll data

Introduction to bookkeeping – T/508/5857

  • Understand the basics of double entry bookkeeping
  • Understand bookkeeping terms
  • Recognise source documents and understand their purpose
  • Understand the basics of VAT
  • Understand the purpose of the trial balance and petty cash and bank reconciliations

Keep double entry records and prepare a trial balance – A/508/5858

  • Use the journal
  • Record transactions in a double entry bookkeeping system
  • Prepare a trial balance

Prepare reconciliations – F/508/5859

  • Reconcile the petty cash balance
  • Prepare a bank reconciliation statement

How much will it cost?

Student’s studying or wanting to study through a training provider, (classroom based or distance learning) should contact potential training providers to get an idea of the total cost for the qualification. As the majority of the training providers will include the IAB registration fees into their own fee.

Learning Resources Available?

This qualification has two books written for it.  The first is the Level 1 Payroll RQF which can be bought here and the second is the Level 1 Bookkeeping RQF which can be bought here.

Computerised payroll software is required for this qualification to complete the unit Computerised Payroll Processing, however this is not supplied by the IAB and must be purchased separately.

How is it assessed?

This qualification is made up of:

2 – Online Knowledge Test

Online Knowledge tests are a series of independent short answer questions made up of multiple choice, gap fill, and true or false type questions. They are assessed via IABOnline and are open book. This might be taken in class or at home

4 – Online Assignment

Online Assignments are also assessed via IABOnline and are also open book. These are taken in class or at home and are short case study type questions with several tasks for each case study

Find a Centre