ICB Bookkeeping and Payroll Complete

Qualification: Level 2 & 3 Certificate in Bookkeeping and Accounts (MICB) + Level 3 Diploma in Payroll Management

Awarding Body: ICB (Institute of Certified Bookkeepers)

Support: 24 months

Exams: Anytime

Study Time: Approx 180 hours per Bookkeeping Level + 90 hours for Payroll

* Please note that ICB Study Levels and Membership changed in 2019 and these courses are the new versions.

PAYMENT DETAILS:

Paying in Full: £949

Paying in Stages: Your first payment will be £199, then a direct debit will be set up for eight monthly payments of £100. Only available to students with a UK bank account.

WHAT WILL I LEARN?

Students completing this course and passing the exams will:

• Develop core skills in both manual and computerised bookkeeping
• Become a Full Member of the ICB (MICB) and use the designated MICB letters after your name. This will enable you to work as an employed or self employed bookkeeper offering your services to sole traders, partnerships and not-for-profit organisations. You become a fully qualified bookkeeper.
• Gain knowledge and core skills in Payroll Management

Your course includes:

• Free ICB 1-Year Annual Subscription and Registration fee (normally £80.00)
• Free Sage 50 Accounts Software
• Free Sage 50 Payroll Software

HOW IT WORKS:

Upon completion of this course and the associated tests you will be qualified as a Full Member of the ICB (MICB) and allowed to practice as a bookkeeper on a self employed basis for sole traders, partnerships and not for-profit organisations. You will also be fully qualified for employed roles. In addition you will have full knowledge to offer a payroll service.

We provide you with support for up to two years but it is entirely up to you how quickly you work through and when you sit the exams. Your sage software will be valid for six months for each level so do not download it until you have completed the manual section of that particular level.

There are eight exams/tests that you will take.

Level 2 Bookkeeping consists of three exams that are taken online from the comfort of your own home (or at work). 

The first three exams of Level 3 Bookkeeping are also taken online. The final exam you must attend a Pearson Vue test centre (usually the same as where driving theory test is taken) local to yourself.

Level 3 Payroll consists of one exam that you take online from home.

Your course materials are delivered to you hard copy and are yours to keep allowing you to make notes, highlight things etc. 

Throughout the course you are fully supported so if you come across anything you are unsure of you can contact your tutor by email. You also have a support team by telephone.

At the end of each section you will complete an assignment which you will email to your tutor. This doesn't count towards your end result but it allows the tutor to ensure you are on the right track and help iron out any problem areas. Assignments consist of exam style questions so are effectively mini mock exams. The idea is that by the end of each section you are fully up to speed and confident you will be able to pass the exams.

ENTRY REQUIREMENTS:

Students must have an internet connection and a machine running Windows 7 or higher. The Sage Software will not run on any Apple Mac computer.

SYLLABUS

LEVEL 2 BOOKKEEPING

Topic 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

Topic 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.

Topic 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 supplies from, other countries

Topic 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

Topic 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

LEVEL 3 BOOKKEEPING

Topic 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 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)

Topic 2: Reconcile Accounts and Correct Errors

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

Topic 3: Reconcile and Produce a VAT return

• Reconcile the VAT account
• Complete a VAT return

Topic 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

Topic 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

Topic 6: Interpretation of financial statements

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

LEVEL 3 PAYROLL

Topic 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
• Expense and Benefits in Kind (BIK)
• Construction Industry Scheme
• Payroll forms in a payroll system

Topic 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

EXAMS AND ASSESSMENT

LEVEL 2 BOOKKEEPING

Exams can be taken at anytime from home or at work. These are paid for separately and cost £31 each.

LEVEL 3 BOOKKEEPING

The first three exams can be taken at anytime from home or at work. These are paid for separately and cost £40 each. The final exam you must take at a Pearson Vue test centre. Here you will be tested across all topics including those from Level 2. The cost is £76.

The Institute of Certified Bookkeepers (ICB) is the world's largest bookkeeping body. The ICB was started in the UK in 1996 and now has over 150,000 members. The ICB aims to provide relevant and academically recognised qualifications as well as promote and maintain the standards of bookkeeping as a profession.

LEVEL 3 PAYROLL

The exam can be taken at anytime online from home or at work. This is paid for separately with the cost being £61.