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
75 GLH (Guided Learning Hours)
165 hours TQT (Total Qualification Time)
Who is this qualification for?
What you’ll study
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?
Learning Resources Available?
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