Financial Management & Digital Accounting · Beginner level

Beginner level · Module 2 of 5 · 10 guided hours

Payroll and Budget Preparation

Prepare a simple payroll accurately and build a monthly budget.

Learning objectives

  • Prepare a payroll sheet with gross pay, deductions and net pay
  • Keep payroll records securely
  • Build a monthly budget from realistic estimates

Topics

  • gross and net pay
  • deductions
  • payslips
  • payroll records
  • budget lines
  • estimating income and costs

Lessons

  1. Lesson 1 Payroll Basics

    Calculate gross pay, deductions and net pay for each employee.

    gross paydeductionsnet paypayslip

  2. Lesson 2 Payroll Records and Payments

    Keep payroll records accurate, approved and confidential.

    employee recordsapprovalpayment methodsconfidentiality

  3. Lesson 3 Building a Monthly Budget

    Plan income and spending for the month ahead.

    budgetbudget linesestimatescontingency

Practical activity

Prepare a payroll for five staff and a monthly budget for a small organisation.

Expected outcomes

  • Accurate payroll
  • A realistic budget

Assessment

Payroll sheet and budget checked for accuracy and reasonable estimates.

Free taster lesson Payroll Management & Budget Preparation Read a free self-study lesson on this topic in the Free Course Library.

Taught live by an instructor — online or in person. Free course lessons are for self-study and do not lead to a certificate — see registration options.