Establish and maintain a payroll system
Assessment 1
1. List three payroll services that must be provided by a registered BAS agent - and three services that do not require registration.
2. What is the relationship between awards and workplace agreements and what is their effect on payroll? Discuss in 120-150 words.
3. Explain (80-100 words) the differences between policies and procedures.
4. Describe (50-80 words) the aspects of legislation that impact BAS agents.
5. Who should a bookkeeper speak to within an organisation about matters relating to maintaining a payroll system? Discuss in 30-50 words.
6. What is an industry code of practice? Discuss in 50-80 words.
7. What are the advantages of a computerised payroll system over a manual system? Discuss in 150-180 words.
8. Conduct the appropriate research and explain the ATO's requirements in relation to:
a. Australian Business Number (ABN) (100-120 words)
b. Employment declaration (100-120 words)
c. Tax File Number (TFN) declaration (100-120 words)
9. Conduct the appropriate research and explain the TPB's requirements in relation to:
a. Registration and scope of services documentation requirements for BAS agents (150-180 words)
b. Code of Professional Conduct (150-180 words)
10. Conduct the appropriate research and explain the ATO's requirements in relation to:
a. Pay as you go (PAYG) withholding tax (150-180 words)
b. Fringe benefits tax (FBT) (150-180 words)
Assessment 2
Project
Throughout this learning resource you completed assessment activities related to establishing and maintaining a payroll system. From each activity, create a 1-page procedure you can use as a bookkeeper as part of your duties related to payroll. The following procedures must be included:
1. Enter employee pay records AIM: This procedure is designed to make sure employee pays are processed correctly and in a timely fashion at the end of each pay period.
2. Process payroll AIM: This procedure outlines the steps to take to process payroll at the end of the pay period.
3. Reconcile payroll AIM: This procedure outlines the steps to take when reconciling payroll.
4. Update payroll records AIM: This procedure outlines the records to be updated post payroll processing.
5. Payroll enquiries AIM: This procedure outlines the steps to take when handling a payroll enquiry from an employee.
6. End of quarter AIM: This procedure outlines the steps to take at the end of each financial quarter.
7. End of financial year AIM: This procedure outlines the steps for processing payroll at the end of the financial year.
8. Back-up AIM: This procedure describes the back-up regime used by the organisation.
9. Complete payroll component of BAS AIM: This procedure describes the process of adding payroll information to the Business Activity Statement (BAS).