MICB – ICB Levels 2 & 3 Bookkeeping PLUS L3 Payroll Management

Course Fee Details

Course Code:

ICB330

Course Fee:

£1375.00

Sale Price:

£1035.00

You can pay the full price or pay a deposit of £108.00 (0% APR), followed by 18 monthly payments of £53.00

Advantages of studying with IDEAL:

25% package saving now available

This Full Membership course package includes both manual & computerised bookkeeping elements, with the practical addition of the payroll management subject. Successful students will be able to offer a comprehensive bookkeeping service to potential clients, with the additional service of completing regular payroll runs for your clients, which can be very lucrative.

There are no entry requirements for this course package and upon successful completion of your examinations possible employment prospects would include employed or self-employed opportunities.

SKILLS: reconcile bank statements with the ledgers, produce a VAT return, control the sales and purchases ledgers, post year-end adjustments, and produce the final accounts for a sole trader, partnership, not-for-profit organisation and management reports for limited companies, in both a manual and computerised systems, and a comprehensive payroll management service.

Ideal Schools will provide:

Interest free payment option – NO credit checks or 3rd party finance
All Study Materials provided in HARD COPY with online access also provided
Supplementary VIDEO tutorials
2 year tutorial support via phone,email & 24/7 support via private Facebook groups
1st year ICB Student Registration
Sage 50 Accounts Pro or Xero softwre training
Sage 50 Payroll or BrightPay software and training
Are you a MAC user? Our Xero and BrightPay training options are perfect for you.
Continuous Self Progress tests & Answers
25+ x tutor marked assignments (TMA’s)
Online report templates to help with assignment completion
18 x IDEAL Mock Papers (including personalised tutor feedback)
18 x Official ICB Online Practice Papers (value = £315)
Exam pass GUARANTEE
Continued career support
Many ICB Member benefits (including free Xero Equivalence Certification)

ICB Course Sample – you can view the first 25 pages of this, and other ICB courses, via THIS LINK.

Associated Exams:

A1, A2, A3, M4, M5, M6, M7, M8,P3

Exam Structure:

9 x home based examinations

Study Time:

Approx 280-300 hours

ADD EXAM FEES TO YOUR ENROLMENT:

Total exam fees for this course option are £758.00 (8 @ £83, 1 @ 94). When it comes to paying for your exams you have two options:

During online registration, select to switch to the option that incorporates the exam fees. With this option, your exam fees are either added to your full payment or spread evenly throughout your interest free payment term. Selecting this option protects you against potential fee increases for the duration of your course enrolment period.
Pay as you go: As you complete each section of study you’ll be instructed to book your exams. If you have not pre-paid these you’d simply contact our admin team to pay and we’ll then place your exam order.

Monthly Payment Notice

We do not charge interest for monthly payments. To cover costs of additional security measures recently implemented in the banking system, there is a £1.50 charge added to each monthly payments to cover the cost of applying these measures in our systems.

YOUR SOFTWARE CHOICES EXPLAINED:

We fully appreciate that not all students have the same PC, laptop or MAC availablity and for this reason we are delighted to provide you with the following software choices. As you approached this section of your study we will confirm your preferred option with you:

Sage 50 Accounts Pro software: This is a windows based program that is provided with a 180 days license, which provides ample time to complete the computerised element of the qualification, where 20-25hrs of study is required.

XERO software This is suitable for any device with internet access so, if you are a MAC user with no access to a Windows platform, this is the perfect option for you.

Sage 50 Payroll software: This is a windows based program that is provided with a 180 day license. This section is study requires approx 35hrs of study so you still have plenty of time to complete your study, exam preparations and final exam.

BrightPay Software: This software runs on both Windows and Mac platforms and comes with an unlimited training license . This section is study requires approx 35hrs of study so you still have plenty of time to complete your study, exam preparations and final exam.

The syllabus for the eight associated exams are as follows:

Paper A1 – Basic double-entry bookkeeping to trial balance

Home /place of work-based assessment to include:

Calculation of the value of the capital investment for a sole trader
Calculation of business documents including calculation of VAT
Showing an understanding of the effect of entering transactions into a bookkeeping system for sales, purchases, overheads, capital items, returns, personal items, etc.
The effect of making and receiving payments including bank, cash and petty cash transactions
Calculation of account balances
Production and explanation of a trial balance

Paper A2 – Further double entry bookkeeping to trial balance

Home /place of work-based assessment to include:

Topics from Paper A1
The content of control accounts
Writing off a bad debt
Construction Industry Scheme
Posting non-sole trader entries (subscriptions, donations, drawings of partners, directors’ loan accounts, etc.)

Entry of payroll journals
Calculation of the value of a suspense account in a system that does not balance
Reconciliation of debtors, creditors and bank balances
Correction of errors that do not affect the trial balance
Production and explanation of a trial balance

Paper A3 – Data entry to trial balance using a computerised accounts package

Home /place of work-based test to include the use of a computerised accounting package to include:

Paper M4 – reconciliations and final accounts of a sole trader

Home / place of work based assessment to include:

Underpinning knowledge
Reconciliation and correction of errors (customer and supplier reconciliations, bank reconciliation, correction of errors including the clearance of a suspense account balance)
The calculation of summary figures for control accounts
VAT Returns (cash and standard VAT returns only but including EU transactions)
Posting adjustments including disposal and acquisition of fixed assets
Revaluation of assets
Final accounts of a sole trader (profit and loss account and balance sheet)

Paper M5 – final accounts of a partnership

Home / place of work based assessment to include:

All of the requirements for paper M4 but set in a partnership scenario plus:
Underpinning knowledge
Ethical considerations
Underpinning knowledge of the legal requirements for a partnership
Final accounts of a partnership including the appropriation account and production of partners’ current accounts
Calculations and bookkeeping entries to record a change of partnership (partnership ratios, goodwill, the effect on capital and current accounts etc.)

Paper M6 – final accounts of a not-for-profit organisation

Home / place of work based assessment to include:

All of the requirements of paper M4 but set in a not-for profit scenario plus:
Underpinning knowledge regarding not-for-profit organisations
Understanding the different requirements of a chart of accounts for such an organisation
Understand the concepts of the different forms of income for not-for-profit organisations including a subscriptions account
Posting adjustments including the subscriptions account and disposal and acquisition of fixed assets
Final accounts of a not-for-profit organisation

Paper M7 – Management accounts of incorporated businesses

Home /place of work based assessment to include:

Paper M8 – Level 3 External Assessment

The assessment will be a mixture of multi-choice and data entry questions which will cover all elements of the Level 3 syllabus.

L3 Diploma in Payroll Management:

This qualification covers the theoretical knowledge and demonstration of the use of various tables and publications issued by HMRC and the demonstration of how to carry out computerised handling of payroll related matters. You must be able to demonstrate their ability to understand and carry out processing of the following:

Theory of payroll, including:

Understand the law relating to payroll, discrimination, employment status, data protection and confidentiality
The legislation for PAYE and National Insurance Contributions (NICs)
The requirements of the Working Time Directive
The Statutory Minimum Wage
Pension scheme and the different types of pension schemes together with the effect they may have on PAYE and NI deductions
The “Real Time Information” (RTI) scheme
Deadlines that apply for submitting information to HMRC

Calculate, the various payments that can make up an employee’s gross Pay, including:

National Insurance Contributions:

PAYE

Statutory deductions, including:

Directors:

Benefits in Kind (BIK):

Construction Industry Scheme (CIS):

The basic principles behind CIS
Understand the duties of a contractor to verify sub-contractors
Correctly calculate the amount of tax to be deducted if applicable
Understand how to make appropriate adjustments to payments to HMRC for CIS tax
Accurately complete a CIS300 form at month-end for a contractor business in the construction industry
Accurately complete a CIS132 form at month-end for a subcontractor business in the construction industry
Understand the duties of a sub-contractor to submit relevant invoices within appropriate timescales
Explain why tax may be deducted at source from such an invoice
Understand the different methods of reclaiming tax deducted depending on the legal entity of the business (i.e. sole trader v limited company)

Various forms that apply to a business running a payroll, including:

Using a Computerised payroll package (Sage 50 Payroll or BrightPay):

Installing, setting up, configuring and using it to produce accurate, comprehensive reports from a range of payroll scenarios encountered in a business of up to 10 employees.
Setting up the details of a new business including appropriate company and existing employee details. Some existing or new employees may be directors who undertake to have their NI deducted using different methods or employees who work irregular hours. Enter and process payroll for a variety of different pay periods and produce reports detailing gross pay, deductions and net pay for each period
Periodic back-ups of payroll-related information.
Produce summary reports
Deal with new employees, and employees leaving
Carry out or simulate a month end procedure under RTI and produce a number of required reports including potential adjustments resulting from CIS deductions and any other recoverable amounts. Note: under the new RTI scheme it is impossible to produce the month end information unless you are using a live business. Be prepared to be able to show what information would be submitted or to explain how this would work

Note: the ‘Basic PAYE Tools’ package provided by HMRC does not offer the level of sophistication required to cover this part of the syllabus.

Scenarios may include:

Making advance payment of holiday pay to an employee
Making a bonus payment to a defined range of employees
Configuring an attachment of earnings
Setting up a pension scheme for a range of employees.
Making Statutory payments for Sickness, Maternity, Paternity, Adoption
Processing a change to an employee’s tax code or basis under which a tax code operates
Configuring deductions of student loan repayments

Target Group

The course is designed to appeal to those who wish to set up a manual or computerised payroll system for their business or for their clients, and also for those who are aspiring to become professional payroll processors.

This course is suitable for those of you:

who are new to payroll and who wish to acquire the skills and knowledge required of payroll clerks prior to employment.
who have previously worked in payroll and have not received a qualification.
who wish to return to working in payroll and need to update their knowledge.
who are already employed in payroll processing or allied roles and who wish to ensure that they have both a firm foundation and the knowledge and skills to perform some non-routine tasks.
who wish to acquire the skills to use the Sage software for their business or help their clients set up their payroll system.
who wish to offer a payroll service to their clients.