ICB Bookkeeping and Payroll Package

This ICB Bookkeeping and Payroll package provides you with all you need to know about bookkeeping, whilst being ideal for students who want to achieve a career in the field. If you’ve already made a start to life in bookkeeping, this bundle will boost your skills and help you progress in your career. In the package, you will work through the Level 2 Certificate in Bookkeeping, the Level 3 Certificate in Bookkeeping and Accounts, and the Diploma in Payroll Management Level 3. During the level 2 course, you will learn to enter transactions, identify and correct errors, produce an initial trial balance, and more. In the Level 3 course, you'll explore post-year-end adjustments and learn about producing the final accounts for sole traders, partnerships, not-for-profit organisations, and Limited Companies. Finally, the Diploma in Payroll Management is a comprehensive introduction for anyone wishing to enter the field of payroll and benefit from faster career progression into payroll management. It is ideal for:

• Students who want to develop their accounting and bookkeeping knowledge
• Those aspiring to work or progress their career in accounting, finance, or bookkeeping.

Future career options:

• Chartered accounting
• Finance manager
• Management accounting
• External auditor
• Forensic accountant
• Stockbroker
• Internal audit
• Business analyst

You will also receive the following to support your studies:

• Free registration and a 1-year subscription to the ICB
• Free Sage software to support your studies

All course materials will be delivered to you by post or via email, so it couldn’t be easier. Our experienced and friendly tutors will help you every step of the way by email.

Course Content

ICB Diploma in Payroll Management Level 3

Unit 1 Manual payroll

• Legislation PAYE, NI, pensions and RTI
• Gross pay and statutory payments
• National Insurance contributions
• PAYE and tax codes
• Statutory deductions, student loans and attachment of earnings
• Directors N.I. deductions
• Expenses and Benefits in Kind (BIK)
• Construction Industry Scheme (CIS)
• Payroll forms in a payroll system

Unit 2 Computerised payroll

• Installation of Sage 50 payroll
• Setting up and configuration
• Company set up and access rights
• Employee records set up
• Payroll processing
• Timesheet entry
• Pay review and variances
• Record holidays and absences
• Process payrolls with holidays and absences
• Processing new employees
• Personnel records
• Pensions and auto-enrolment
• Bonuses, attachment of earning and statutory pay
• Payroll year end

ICB Level 2 Certificate in Bookkeeping – Associate Membership AICB

Unit 1 Underpinning knowledge

• Understand the importance of adhering to a code of professional ethics
• Understand the legal differences between the structure of different types of businesses
• Understand the specific accounting requirements for different accounting systems
• Understand the basic accounting concepts
• Understand the importance of legislation that applies to bookkeepers
• Understand the importance of the chart of accounts
• Understand the importance of IT systems in a modern bookkeeping world
• Understand the basic principles involved in double entry bookkeeping including the format of the accounting equation
• Identify the various methods of payment and receipts to and from a bank account

Unit 2 Prepare business documents

• Understand the purpose and range of business documents
• Understand the need to accurately prepare business documents for goods and services supplied
• Understand the need to check business documents received

Unit 3 Accounting for VAT

• Understand the various rates of VAT
• Understand how to correctly account for VAT in a bookkeeping system
• Understand how to account for VAT transactions with customers in, and suppliers from, other countries

Unit 4 Entering transactions

• Understand the purpose of, and making entries into, a bookkeeping system
• Calculate the value of equity
• Understand how to upload and match bank transactions
• Understand the use of control accounts in the system
• Understand the purpose and need to record petty cash
• Post appropriate journal entries into the system

Unit 5 Reconciliation and reporting

• Understand the purpose and use of the trial balance
• Reconcile relevant account balances
• Understand the need to correct errors
• Produce relevant reports

ICB Level 3 Certificate in Bookkeeping and Accounts – Full Membership MICB

Unit 1 Underpinning knowledge

• Understand the importance of adhering to a code of ethical principles
• Understand when and how to take appropriate action to cope with unethical behaviour
• Understand the legal differences between the structures of various types of businesses
• Understand the main accounting concepts that apply
• Understand the various accounting standards that are applied to the production of year-end accounts
• Understand the different VAT schemes that are available for use
• Understand the importance of being able to clearly communicate relevant information
• Understand the requirements for uploads to HMRC under making tax digital (as and when introduced)

Unit 2 Reconcile accounts and correct errors

• Reconcile debtors and creditors control accounts
• Write off a bad debt
• Correct errors in the accounts

Unit 3 Reconcile and produce a VAT return

• Reconcile the VAT account
• Complete a VAT return

Unit 4 Calculate and post adjustments to the accounts

• Account for the disposal of fixed assets
• Understand the need to allow for, and be able to post, adjustments to the accounts
• Provide for revaluation of assets

Unit 5 Produce draft final accounts for internal management purposes

• Prepare a set of final accounts suitable for internal management purposes
• Calculate and post relevant amounts to appropriate profits as required
• Adjust capital share of partners

Unit 6 Interpretation of financial statements

• Understand the importance of interpreting financial statements for internal management purposes
• Analyse and interpret financial statements
• Prepare a cash budget