FNSTPB402 Establish and Maintain Payroll Systems

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Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D
North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888
Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888
Sydney CBD Campus: Level 11, 307 Pitt St Sydney NSW 2000 P 02 8034 6431
Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184
FNSTPB402 Assessment Task 02 v1.1 Page 1 of 9
FNSTPB402 Establish and Maintain Payroll Systems
Assessment Task 02 – Project
Task summary:
This task requires you, in the role of Payroll Officer for Oz Office Supplies, to set and
maintain a payroll system using up a computerised payroll system for the company
(MYOB). You will be required to produce a number of payroll reports as outlined in the
assessment. This assessment is to be completed in the simulated work environment
within the Classroom.
You need to access the following Documents from Moodle:
• Company Information
• Employee Information
• Payroll Preparation Report Template
• Payroll Policy and Procedures
• Time Sheet Summary
• Timesheet
You must submit the following below to your Assessor:
(a) Payroll Preparation Report.
(b) Email requesting approval for processing the payroll.
(c) Pay slips for Alice Brown, Ben Clark and Chris Dean for four weeks
(d) Email requesting approval for altering the payroll.
(e) Email with the following attachments:
I. Payroll summary report for June 2020
II.
III.
IV.
V.
VI.
VII.
Payroll register report for June 2020
Payroll activity (summary) report for June 2020
Profit and Loss Statement for June 2020
Balance Sheet as at 30 June 2020
Entitlement Balance (summary) report for June 2020
Superannuation accrual by fund (summary) report for June 2020
(f) Email with the following attachments:
I. Payroll register (summary) report for year ended June 2020
II.
III.
IV.
V.
VI.
VII.
Payroll activity (summary) report for year ended June 2020
Profit and Loss Statement for year ended June 2020
Payroll Summary report for year ended June 2020
Entitlement Balance (summary) for the year ended 30 June 2020
Balance sheet for year ended 30 June 2020
Payment summaries for the 30 June 2020 financial year for each employee.
(g) Email giving data to be included in the IAS and BAS
(h) Procedure for back up and disaster recovery.
Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D
North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888
Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888
Sydney CBD Campus: Level 11, 307 Pitt St Sydney NSW 2000 P 02 8034 6431
Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184
FNSTPB402 Assessment Task 02 v1.1 Page 2 of 9
Complete the following Activities:
1. Payroll System Preparation:
Review Company Information and Employee Information so that you are familiar with
the information you need to establish and maintain the payroll system. Review the Oz
Office Supplies Payroll Policy and Procedures too as you will need to follow these
throughout this assessment.
Conduct research to identify the following:
• Scope of services
Describe the scope of payroll services that a BAS Agent can provide. Also find out how
the services provided by a bookkeeper differ to that of a registered BAS Agent.
• Experts
Locate, and record the details of at least two local experts who could help if assistance
was required with payroll services. Give the name of the individuals or companies, their
contact details, and the services they provide.
• Termination
Name and outline the legislation that covers notice of termination and final pay for
Australian workers. Use the Fair Work Ombudsman website below to help you identify
how much notice Oz Office Supplies’ employees must be given if their employment is to
be terminated. List also the company’s payroll obligations to the terminated employee if
Oz Office Supplies decides to pay an employee out rather than let them work out their
notice period.
Required: Write a short (about a page) report that includes the information that you
have collected on the above. Use the Payroll Preparation Report Template to guide your
work.
2. Set Up Payroll System:
Using the Company Information and Employee Information for Oz Office Supplies, set up
the payroll system for the company as outlined below.
Before you start this task, find out about annual leave entitlements as set out in the
National Employment Standards, based on the employment status of each employee.
You will need to use this information when setting up the payroll system and when you
are required to explain entitlements to your assessor.
Complete all of the following tasks:
(a) Click on the Load Tax Tables button to check that the latest tax tables have been
included. Show your assessor how to use the system to check for updates.
Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D
North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888
Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888
Sydney CBD Campus: Level 11, 307 Pitt St Sydney NSW 2000 P 02 8034 6431
Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184
FNSTPB402 Assessment Task 02 v1.1 Page 3 of 9
(b) Set up Payroll Information as per the company information provided to you.
(c) Assign linked payroll accounts.
(d) Review payroll categories included in MYOB and enter the information provided to
you. In some cases, MYOB automatically includes the information and you will need
to check this.
(e) Build the employee list by using the Employee Information provided to you. As you
are entering the information about annual leave, explain to your assessor standard
employment entitlement for annual leave according to the National Employment
Standards.
(f) One of the employees, Alice Brown has a salary sacrifice arrangement in place
whereby he pays an additional 2% of his salary into superannuation. Enter this amount
into MYOB under superannuation.
➢ Explain to your assessor what salary sacrifice (sometimes also known as salary
packaging) is.
➢ Give at least three examples of salary sacrificed benefits and three important
considerations for a salary sacrifice arrangement.
➢ You should also explain Fringe Benefits.
Your assessor will make notes on your verbal explanation in the checklist.
(g) As stated in the information provided to you, one of the employees is covered by an
Award. Ask your assessor about their entitlements in relation to Rostered Days Off.
Your assessor will provide these to you. Enter this information into MYOB to allow for
rostered days off. If you do not know how to enter rostered days off into MYOB, use
the help function to assist you to enter this information or research this information
on the Internet.
(h) When you have completed entering all of the employee information, open the cards
for each employee and check the information you have entered into MYOB for each
employee against the employee information provided to you to make sure it is all
correct. Edit any errors.
(i) Ensure that ensure the security of your MYOB company file according to the Oz
Office Supplies Payroll Policy and Procedures. You should also explain to your
assessor who may access records according to the policy, how often passwords must
be changed and why.
Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D
North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888
Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888
Sydney CBD Campus: Level 11, 307 Pitt St Sydney NSW 2000 P 02 8034 6431
Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184
FNSTPB402 Assessment Task 02 v1.1 Page 4 of 9
3. Prepare and Process Payroll:
You are required to process payroll according to the time frame identified in the Oz
Office Supplies Payroll Policy and Procedures and according to the Time Sheet Summary
Assume that you are provided the time sheet summaries each week, as set out in the
Payroll Policy and Procedures.
Complete all of the actions that are required by the Payroll Policy and Procedures to
process the payroll for the week ending 7 June 2020, noting that this will also include
payment of superannuation (payroll liabilities).
4. Send an Email to the Finance Manager (Your Assessor):
It should state that the payroll details have been entered into MYOB and seek their
approval to process the pays as set out in the Payroll Policy and Procedures. Your
assessor in the role of the Finance Manager will give their approval or ask you to make
any necessary alterations verbally.
5. Process the Payroll:
You are required to process the pay and submit the pay slips for Alice Brown, Ben Clark
and Chris Dean and prepare electronic payments for the week ending 7/6/20. Your
assessor will check these to make sure you have entered all of the information
accurately.
6. Process further Payroll Periods:
Repeat this process that you carried out in activity 4 for weeks ending 14/6/20, 21/6/20
and 28/6/20 using the information provided to you. It is not necessary for you to email
the Finance Manager for their approval for these weeks.
Submit the payslips for the three employees to your assessor.
7. Handle Discrepancies:
Assume you have received the following email from Chris, one of the employees.
Dear Payroll Officer
I have just received my pay slip for the week. I have only been paid for 12 hours, whereas in
fact I worked 21 hours.
Can you please update this, so I can be paid the correct amount?
Thanks Chris
Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D
North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888
Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888
Sydney CBD Campus: Level 11, 307 Pitt St Sydney NSW 2000 P 02 8034 6431
Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184
FNSTPB402 Assessment Task 02 v1.1 Page 5 of 9
Review the Payroll Policy and Procedures and follow the correct procedure for handling
discrepancies. Assume that your assessor is the Administration Manager.
Once you receive approval, you should also demonstrate to your assessor how to make
the relevant change in MYOB.
8. Produce Payroll Records:
The Oz Office Supplies Payroll Policy and Procedures state that when you have
completed the tasks above, you are required to submit the following end of month
reports:
I. Payroll summary report for June 2020
II. Payroll register report for June 2020
III. Payroll activity (summary) report for June 2020
IV. Profit and Loss Statement for June 2020
V. Balance Sheet as at 30 June 2020
VI. Entitlement Balance (summary) report for June 2020
VII. Superannuation accrual by fund (summary) report for June 2020
Create a folder and save all of the summary reports you have generated as pdf files.
Follow the Oz Office Supplies policy on storage of electronic files to store all end of
month reports under Payroll summary reports for the month in question.
9. Send an Email to your Assessor:
It should introduce and summarise the contents of the attachments. Attach the payroll
records that you created to the email.
10. Complete Checks and Balances:
This part of the assessment requires you to complete checks and balances as follows:
a) Check that the payroll activity report and the payroll register report match and
that the subsidiary ledger agrees with the control accounts.
b) Complete the reconciliations of payroll on the June Payroll Checklist as provided.
c) Reconcile the PAYG withholding.
d) Pay payroll liabilities including Health Insurance, Union Fees, Superannuation and
PAYG withholding to the ATO.
e) Check the balance sheet as at 30-06-2020 to confirm all payroll liabilities have
been paid.
Create and save a copy of each of these reports:
I. Payroll register (summary) report for year ended June 2020
II. Payroll activity (summary) report for year ended June 2020
III. Profit and Loss Statement for year ended June 2020
IV. Payroll Summary report for year ended June 2020
V. Entitlement Balance (summary) for the year ended 30 June 2020
Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D
North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888
Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888
Sydney CBD Campus: Level 11, 307 Pitt St Sydney NSW 2000 P 02 8034 6431
Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184
FNSTPB402 Assessment Task 02 v1.1 Page 6 of 9
VI.
VII.
Balance sheet for year ended 30 June 2020
As you need to reconcile gross wages and superannuation for the 2019/20
financial year, prepare the payment summaries for the 30 June 2020 financial year
for each employee.
11. Send an Email to your Assessor:
It should introduce and summarise the contents of the attachments and advise them of
the payroll information from the reports that are to be included in the IAS and BAS. The
email text should also explain to your assessor at least one cause why reports might not
reconcile and how to rectify this. Attach the six reports and the payment summary for
each employee to the email.
12. Update Records:
Assume that Alice Brown has recently had a salary review and his salary has been
increased to $59,500. Update his records. Show your assessor that you know how to do
this in MYOB.
13. Establish a Backup and Disaster Recovery System:
Assume that you have been tasked to ensure that there is a strong back up and disaster
recovery system in place. Research how to do this for MYOB and then write a simple
procedure for back up and disaster recovery.
Create a new Word document and write the procedure in this. Submit it with this
Assessment Task.
Create a backup file and store it as set out in your procedure. Your assessor will observe
you doing this.
Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D
North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888
Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888
Sydney CBD Campus: Level 11, 307 Pitt St Sydney NSW 2000 P 02 8034 6431
Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184
FNSTPB402 Assessment Task 02 v1.1 Page 7 of 9
FNSTPB402 Establish and Maintain Payroll Systems
Assessment Task 02 – Project
Checklist to be completed by Trainer:
Student Name:
Student ID:
Did the student:
Completed successfully
Yes
No
Correctly identify and report on the scope of payroll services that a BAS
agent can provide?
Correctly identify and report on situations relating to payroll for which an
expert may be required?
Identify and report on at least two relevant experts and the services they
provide as well as their contact details?
Correctly set up the payroll function within Student MYOB software using
the company and employee data provided and including:
o Confirming year for tax tables
o Confirming payroll year
o Assigning linked payroll accounts
o Entering and reviewing payroll categories
Correctly enter all employee information into MYOB according to the
source data provided (Oz Office Supplies company and employee data)?
Correctly advise of annual leave entitlements as set out in the National
Employment Standards?
Correctly set up salary packaging arrangements in MYOB for the employee
Alice Brown?
Correctly explain salary sacrifice and outline three examples of salary
sacrificed benefits?
Notes:
Ask assessor about details to be set up within payroll system for Ben Clark
with regard to award requirements for RDOs and correctly enter into
MYOB?
Check employee information included in MYOB within each employee card
against source data and make adjustments as required?
According to the payroll procedures, correctly process payroll, submit pay
Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D
North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888
Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888
Sydney CBD Campus: Level 11, 307 Pitt St Sydney NSW 2000 P 02 8034 6431
Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184
FNSTPB402 Assessment Task 02 v1.1 Page 8 of 9
Student Name:
Student ID:
Did the student:
Completed successfully
Yes
No
slips and prepared electronic payment for all employees for each week
specified?
Send an email to the Finance Manager to request approval to process
payments as set out in the Payroll Policy and Procedures?
Correctly explain payroll discrepancy in writing via email according to Oz
Office Supplies procedures?
Correctly update payroll data for employee in MYOB according to
information received from the Administration Manager?
Correctly produce and reconcile month-end and year-end checklists?
• Payroll summary report for June 2020
• Payroll register report for June 2020
• Payroll activity (summary) report for June 2020
• Profit and Loss Statement for June 2020
• Balance Sheet as at 30 June 2020
• Entitlement Balance (summary) report for June 2020
• Superannuation accrual by fund (summary) report for June 2020
• Payroll register (summary) report for year ended June 2020
• Payroll activity (summary) report for year ended June 2020
• Profit and Loss Statement for year ended June 2020
• Payroll Summary report for year ended June 2020
• Entitlement Balance (summary) for the year ended 30 June 2020
• Balance sheet for year ended 30 June 2020
Correctly reconcile Gross Wages and Superannuation including:
• Checking that the payroll activity report and the payroll register report
match and that the subsidiary ledger agrees with the control accounts.
• Completing the reconciliations of payroll on the June Payroll Checklist
as provided.
• Reconciling the PAYG withholding.
• Paying payroll liabilities including Health Insurance, Union Fees,
Superannuation and PAYG withholding to the ATO.
• Checking the balance sheet as at 30-06-2020 to confirm all payroll
liabilities have been paid?
Provide correct and accurate data via email to the Finance Manager
(assessor) for BAS and IAS reporting?
Correctly update payroll records for Alice Brown salary updates?
Develop a simple backup and recovery procedure for Oz Office Supplies
Crown Institute of Business and Technology Pty Ltd ABN 86 116 018 412 National Provider No: 91371 CRICOS Provider Code: 02870D
North Sydney Campus: 116 Pacific Highway North Sydney NSW 2060 P 02 9955 0488 F 02 9955 3888
Sydney CBD Campus: Level 5, 303 Pitt St Sydney NSW 2000 P 02 8959 6340 F 02 9955 3888
Sydney CBD Campus: Level 11, 307 Pitt St Sydney NSW 2000 P 02 8034 6431
Canberra Campus: Suite 1, Level 4, 40 Cameron Avenue, Belconnen, ACT 2617 P 02 6253 5184
FNSTPB402 Assessment Task 02 v1.1 Page 9 of 9
Student Name:
Student ID:
Did the student:
Completed successfully
Yes
No
based on research?
Make a backup copy and store as set out in the backup and recovery
procedure developed?
Name of Trainer: Signature:

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