Part 1 - The questions…..
«First_Name» asks you the following questions:
1) About what I will get paid:
a) What pay rate will I get paid?
b) Where did you find that information?
c) How can I find out what award I am on?
d) Will that change?
2) What is the difference between an award and a registered agreement?
3) Is there a law that the company has to follow in regards to awards and how they have to treat me as an employee? Who administers these laws?
4) How long will my information be kept for?
5) Who can access my personal information?
6) I don’t want my colleagues to know details of child support payments that I make. If my information is kept on computer how can I be sure it is safe?
7) How will I find out the details of what my pay is each fortnight?
8) What is the common long service leave entitlement?
9) What is a tax offset and how could I claim it?
10) When I need to complete my tax return how will I know how much tax I’ve paid for the whole year – will you give me something? When will I get it?
11) Can you tell me about salary sacrifice?
a) What is a salary sacrifice? Can you give me 2 examples of what I can salary sacrifice?
b) Does PAYG Withholding tax need to be paid on salary sacrifice?
12) What about Superannuation?
a) What is the Superannuation Guarantee? How much is it?
b) When do you have to pay it to my super fund?
13) What about annual leave and personal leave?
a) How much leave do I get each year?
b) If I resign what happens to that leave?
c) If I resigned would you be the one that would process my final pay?
Part 2 - The process…..
1) To ensure a payroll system includes complete and accurate employee data, what forms will you need «First_Name» to complete so you can start processing his pay? Find examples of these forms that can be customised to your business (if appropriate). To show you have sourced a document that can be customised, the company name on the form should be your own name. List at least 5 essential pieces of information you need to obtain from a new employee
2) From the Company Policy below, complete the checklist in the answer booklet.
Extract from the Company Policy:
…..Timesheets must be signed and dated by the employee at the end of the final shift of the week. The supervisor must then sign the timesheet that hours worked have been checked and are correct. If a timesheet has not been signed by the supervisor, it cannot be processed through the payroll system and must be returned to the section for approval. Timesheets should be approved by 5pm every Friday.
The payroll clerk calculates the payroll every Monday by 5pm. Timecards are reconciled to the hours entered in the payroll register on Tuesdays. The final payroll must be reviewed and checked by the accountant prior to the final payment file being sent to the bank. Payroll is approved and processed to the bank by 3pm Tuesdays. Payslips are generated and made available to staff by 10am Wednesdays. Any queries resulting from the payroll should be resolved when possible by Friday of every week. No queries are to be dealt with on Mondays and Tuesdays whilst payroll is being processed for the new week.
The accounting team are to ensure payroll liabilities are paid by the 7th of every month as well as reconciling the payroll liabilities and reviewing payroll reports.
The accounting team are to ensure superannuation guarantee levy is paid by the 28th of month following the quarter end, ie 28th of July, October, January, April. PAYGW information is provided for BAS before the BAS is due to ensure on time BAS lodgement.
The payroll clerk will generate the annual payment summaries, check the totals back to the payroll system and provide them to the employees by 14 July. A member of the accounting team will perform the annual payroll reconciliation from payroll system to general ledger accounts. The Accountant is to check the reconciliation and payment summaries and approve the distribution of the payment summaries by 14 July.
3) Review the checklist you have created and the company policy from question 2. Explain how the authorisation works in this process. Explain why is it important to have authorisation as part of the process of payroll?
Part 3 - The advice…..
You have been asked to a meeting with the human resources manager. The meeting is to discuss
a) If the payroll should be done manually or on a computer program
b) The role of the current BAS agent the company uses
To prepare for this meeting, you should have the following information ready:
1) Would you suggest a manual or a computerised payroll system instead? List at least 1 advantage and disadvantage of the both the manual and the computerised accounting system?
2) Assuming that your company’s changes to a computerised payroll system where should backup of the data file be kept? Why?
3) Describe three statutory functions that the Tax Practitioners Board (TPB) performs. What legislation does the TPB require you to comply with?
4) List the four TPB requirements in order to obtain registration to provide BAS agent services for a fee or other reward.
5) What are the 5 categories the TPB list for the code of professional conduct?
6) Of the tasks listed below, which of the following tasks can be completed by a BAS agent?