The Business & Payroll Masterclass Self-Study Package includes 5x self-study courses (sessions) and starts right from scratch, introduces the concept of accounting, fundamental accounting terms and the accounting system of recording business transactions.

It then takes you to more complex areas of accounting like transactions affected by discounts and vat, prepaid and accrued transactions, and accounting adjustments like depreciation. Moving on to company compliance, which is a very important part of bookkeeping – as it forms part of the duties of the bookkeeper in keeping the company compliant and also informs the bookkeeper of when certain statutory registrations and submissions are due and payable, as well as how to calculate.

The next step is to understand Payroll reconciliations – this is one of the biggest expenses in a business and the bookkeeper must know how these calculations are done, before recording it in the books of account. Bookkeeping reconciliations for example bank, petty cash, loans, payroll, control accounts, debtors and creditors, but to name a few, are part of the reconciliation step in the accounting cycle and must be executed perfectly to allow for a reasonable and accurate view of the books of account. Then lastly, preparing the Management Accounts is the single most important part of bookkeeping.

This masterclass also wishes to provide the bookkeeper with the necessary skills to interpret the Management Accounts and to spot any inconsistencies and to investigate discrepancies, ultimately ensuring the correct calculation of income tax.

This comprehensive course is beneficial to any person wanting to skill themselves up and no prerequisites or prior knowledge of bookkeeping or payroll is necessary, as this course starts everything right from the scratch!

The following self-study courses are included in this package:

SESSION 1: Basic Business Bookkeeping

• Basic Bookkeeping and Accounting Terminology
• Double Entry System / Principle
• Source Documents
• Accounting Cycle
• Chart of Accounts
• Trial Balance
• Balance Sheet
• Income Statement
• Reconciliations
• Depreciation
• Month End / Year End Process
• Annual Financial Statements

SESSION 2: Company Compliance

• Department of Labour – When and How to register and for what
• UI-8 – What this form is for and what to do with it
• UI-19 – What this form is for and what to do with it
• Staff Files – Relevant documents needed to keep in a staff file
• Staff Payslips – When to supply an employee with a payslip and what information is needed to include
• Salaries & Wages – How to calculate pro rata salary, bonus, leave and sick leave
• Staff Leave – How staff leave works and how to calculate unpaid leave
• Leave – How annual leave works and how to calculate to pay out
• CIPC – Annual return requirements and how to ensure that the company does not get deregistered because of failure to renew
• Personal Income Tax – The company’s responsibility in terms of staff personal income tax as well as informing staff of their responsibility to submit their own income tax
• Workmen’s Compensation – When to register for Workmen’s compensation, and how it works.
• PAYE, UIF & SDL – Relevant deductions from staff salaries and submissions to SARS. (EMP201 Submissions)
• IRP5’s and IT3’s – Issuing of IRP5’s and IT3’s and when required (EMP501)

SESSION 3: Payroll Calculations

• How to calculate:
  • Pro Rata Salary, Leave and Tax
  • Daily and Hourly Rate
  • Gross Income
  • PAYE, UIF and SDL
  • Subsistence Allowance
  • Medical Aid
  • Retirement Annuities
  • Unpaid Leave
  • Long Service Cash Award
  • Bonus
  • Overtime
  • Commission
  • Arbitration Award
  • Allowances (Travel and Reimbursive Travel)
  • Accommodation
  • Advances and Loan Repayments
  • Expense Reimbursements
  • Uniform Allowance
  • Right of use of an asset

• How to keep an excel worksheet as proof of how calculations were done
• Reconciling your payroll for the year on excel
• Asset Acquired at less than OMV
• Leave schedule – according to hours worked
• Low interest or interest free debt
• EMP501
• COIDA ROE

SESSION 4: Bookkeeping Reconciliations

• Trial Balance Analysis
• Compiling a Fixed Asset Register
• Depreciation / Amortization
• Accruals and Provisions
• Income Received in Advance
• Payroll Reconciliation
• Pre-paid Expenses
• Reconciling your Bank and Petty Cash
• Creditors and Debtors
• Loan Account Reconciliation
• VAT Reconciliation
• Interest and Loans / Instalment Sale Agreements

SESSION 5: How to Prepare Management Accounts

• Preparing your bank allocations to ensure consistent and streamline reports
• Reconciling:
  • The Bank Account
  • The Petty Cash Account
  • Suppliers
  • Customers
  • Loan Accounts
• Preparing a Fixed Asset Register and calculating depreciation
• Journals
• Preparing the reports:
  • Trial Balance
  • Income Statement
  • Management Accounts
  • Balance Sheet
• Rolling over for the year and starting fresh for the next year

All Included:

• Video presented courses
• Downloadable course material
• Certificate of training
• Assessments (optional)
• SAIT Accredited - Verifiable CPD hours (4 points per course/module)