Assessment Task 3_manage pay rolls

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Description

Assessment Task 3_manage pay rolls

Administer salary records

Submission details

The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.

Submit this document with any required evidence attached. See specifications below for details.

Performance objective

The candidate will demonstrate the ability to administer salary records.

Assessment description

In response to the scenario provided, you will process a new employee, schedule payments, complete a BAS summary and complete and reconcile pay as you go (PAYG) payment summaries.

Procedure

Consider the scenario and the tasks provided.

Task A: Process new employee

  • Develop a schedule for processing forms for new employee.
  • Task B: Schedule payments

  • Develop a schedule to forward funds to nominated creditors and dispatch payments to government authorities.
  • Task C: Complete a BAS summary

  • Using the worksheet provided, complete a BAS summary.
  • Task D: Complete payment summaries

  • Using the worksheets provided, complete organisational and individual employee PAYG payment summaries.
  • Reconcile organisational and individual employee PAYG payment summaries so that total amounts for the organisation and individual amounts agree.
  • Submit all documents required in the specifications below to your assessor. Ensure you keep a copy of all work submitted for your records.
  • Specifications

    You must submit:

  • a schedule for processing forms for new employee
  • a schedule for forwarding funds to nominated creditors and dispatching payments to government authorities
  • BAS summary worksheet
  • organisational and individual employee PAYG payment summary worksheets.
  • Your assessor will be looking for:

  • literacy skills to follow complex financial procedures and to follow detailed instructions
  • numeracy skills to calculate obligations and reconcile PAYG summaries
  • knowledge of key provisions of relevant legislation from all forms of government, standards, regulations and codes that may affect aspects of business operations, such as:
  • Australian Taxation Office (ATO) regulations
  • financial legislation
  • other relevant government and statutory bodies in relation to payroll
  • knowledge of Superannuation Guarantee (Administration) Act 1992 and superannuation regulations
  • knowledge of organisational policies and procedures across the full range of tasks required payroll processes.
  • Adjustment for distance-based learners:

  • no variation of the task is required
  • documentation can be submitted electronically or posted in the mail.
  • ......

    Assessment Task 3_manage pay rolls
    Last updated: Feb 2024

    Page 1

    documentation can be submitted electronically or posted in the mail.

    Appendix 1 – Pitstop Pty Ltd

    Pitstop is a privately owned retail and fuel service company that until recently operated four independent service stations/stores in Melbourne’s north. The company has recently expanded to 13 service stations across Victoria.

    The owner, chairman and CEO, Jim Murphy, has run the company for the past five years. He has operated service stations for most of the last 25 years and relies on his hands-on approach to operations.

    Pitstop stores trade 6 am–11 pm daily. They typically include a vehicle access forecourt with at least six pump stations, a retail shop, a food bar, store manager’s office and stockroom. They sell fuel, oil, gas, supermarket goods, hot pies (heated from frozen on the premises) and cold drinks.

    For the financial year 2011–2012, Pitstop is projected to have an annual turnover of $9,000,000 and generate a profit of $3,000,000. Payroll is expense is projected to be $3,000,000. The organisation uses a computerised accounting system: MYOB AccountRight.

    Pitstop organisational structure

    The flagship Pitstop store in Brunswick, Victoria has an attached office space that accommodates head office (the directors, senior management staff and clerical employees).

    Task A: Process new employee

    It is 30 June 2012. You are the manager of the Bendigo store. You are starting a new casual employee on Monday.

    You are required to develop a schedule for processing forms. Your schedule should:

  • include specific dates for providing, collecting and forwarding forms
  • adhere to ATO requirements
  • adhere to organisational requirements such as policies and procedures.
  • Task B: Schedule payments

    It is 30 June 2012, the end of Q4. You are the Finance and Operations Manager at Pitstop. Your duties include planning and executing payments to nominated creditors and government authorities.

    Consider:

  • BAS statements are prepared and associated PAYG, HELP, and fringe benefits tax (FBT) payments are made quarterly
  • Pitstop is liable for payroll tax
  • Pitstop is liable for workers compensation 15 days after the end of the quarter
  • extra superannuation contributions (SUN, HESTA, AMP) are forwarded at the same time as those associated with the superannuation guarantee
  • all other nominated or required payments such as child support are due on the 15th of each month
  • car salary sacrifice amounts are managed by VIC Finance.
  • You are required to develop a July schedule for dispatching payments in. Your schedule should:

  • include specific dates for dispatching payments to specific organisations
  • include…
  • ...

    Assessment Task 3_manage pay rolls
    Last updated: Feb 2024

    Page 2

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