Copyright Notice: Written by: Publishers: ISBN Revised Edition: 25 July FNSBKPG405A Establish and maintain a payroll system

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1 A Step by Step Approach to Establishing and Maintaining a Payroll System using MYOB Accounting Plus v18 Copyright Notice: Copyright 2008 Marian Brown. All rights reserved. No part of this material may be reproduced or copied in any form or by any means (graphic, electronic or mechanical, including photocopying or by information retrieval systems) without permission in writing from Marian Brown. Written by: Marian Brown Dip T [Commerce], MICB Cert IV Workplace Training and Assessment, Cert IV in Financial Services [Bookkeeping] MYOB Certified Consultant for 14 years MYOB Accredited Author, MYOB Publisher, MYOB Accredited Trainer MBS Training Services Pty Ltd sales@mbsts.com.au Publishers: Software Publications Pty Ltd [ABN ] Head Office Sydney Unit 10, 171 Gibbes Street Chatswood NSW 2067 Phone: Web address: ISBN Revised Edition: 25 July 2009 FNSBKPG405A Establish and maintain a payroll system Copyright 2008 Marian Brown FNSBKPG405A Establish and Maintain a Payroll System v18 Contents i

2 Copyright/Trademark Information: MYOB, MYOB AccountEdge, MYOB Accounting, MYOB Accounting Plus, MYOB BusinessBasics, MYOB FirstEdge, MYOB M-Powered, MYOB M-Powered Services, MYOB M- Powered Bank Statements, MYOB M-Powered Invoices, MYOB M-Powered MoneyController, MYOB M-Powered Payments, MYOB ODBC Direct, MYOB PowerPay, MYOB Premier and MYOB Premier Enterprise are registered trademarks or trademarks of MYOB Technology Pty Ltd and their use is prohibited without prior consent. Ceedata, Solution 6 MAS and Xlon are registered trademarks or trademarks of Solution 6 Holdings Limited, a member of the MYOB group. Bpay is a registered trademark of Bpay Pty Ltd, ABN MasterCard is a registered trademark of MasterCard International Inc. Microsoft, Access, Excel, Internet Explorer, Office, Outlook, Smart Tags, Windows and Word are registered trademarks or trademarks of Microsoft Corporation in the United States or other countries. VISA is a registered trademark of Visa International Service Association. Other products mentioned may be service marks, trademarks or registered trademarks of their respective owners. Screen captures from MYOB Accounting Plus v18 reproduced with permission. Limitations of Liability: This material is designed to provide basic information on how to use MYOB Accounting/Accounting Plus v18. Because business circumstances can vary greatly, the material is not designed to provide specific GST or business advice for particular circumstances. Also, because aspects of the GST are complex and detailed, the material is not designed to comprehensively cover all aspects of the GST. Further, the laws implementing GST and rulings and decisions under those laws may change. Before you rely on this material for any important matter for your business, you should make your own enquiries about whether the material is relevant and still current, and whether it deals accurately and completely with that particular matter; and as appropriate, seek your own professional advice relevant to that particular matter. This information is for the general information of MYOB clients and is not to be taken as a substitute for specific advice. Consequently Marian Brown will accept no responsibility to any person who acts on information herein without consultation with Marian Brown. The information in this book is relevant to MYOB Accounting Plus v18. Earlier or later versions of MYOB software could change the instructions in this workbook. Please note: The information in this workbook is accurate at the time of printing [25 July 2009] only. Because payroll legislation and associated websites are constantly changing, urls and screen dumps of websites in this workbook may have changed. On 25 July 2009, MYOB Accounting Plus v18.5, MYOB Premier v12.5, MYOB Premier Enterprise v6.5 were released. MYOB has informed me that a student edition of this version will not be made available. PLEASE REFER TO APPENDIX C for notes on this version and changes to superannuation. ii FNSBKPG405A Establish and Maintain a Payroll System v18 Contents Copyright 2008 Marian Brown

3 Unit 9 Payroll Consolidation Exercise Learning Outcomes On completion of this unit, you will demonstrate that you can: calculate hours worked from a timesheet; refer issues to a supervisor for approval; use a password to protect your payroll data; process weekly pays according to legislative requirements; enter variations to pays; pay employees by electronic funds transfer; print pay slip and reports in accordance with requirements; reconcile payroll at the end of the month and year; pay PAYG Withholding and superannuation; pay deductions; print Payment Summaries; and check the records kept for each employee. Copyright 2008 Marian Brown FNSBKPG405A Establish and Maintain a Payroll System v18 Unit 9: Payroll Consolidation Ex 167

4 Consolidation Exercise (i) Open the data file you have created in Unit 8. (ii) (iii) Enter your USER ID and YOUR PASSWORD. Verify your data file for corruption. In this exercise use your current month. TASK 1 - Process pays paid 7/month pay period 1/month to 7/month [if your current month is July, PLEASE USE AUGUST because you have entered opening balances in July] (i) Process the following WEEKLY pays. [Net Pay amount is given for you to check your accuracy.] (ii) Remember to Group with Electronic Payments. (iii) (iv) (v) (vi) If you have an error, cancel before recording. Check the Employee Payroll Details. Check the setting up of Payroll Categories. Process the pay again. Don t forget to add the Employee s name to the Memo. EMPLOYEE PAYROLL DETAILS Alison Brown Worked 38 hours + 3 hours overtime x 1.5, 1 meal allowance Net Pay = $ Bob Miller Salary for the week no variations Net Pay = $ David Watson Worked 20 hours Net Pay = $ After you have recorded the above pays, select Close. At this point, do not print other reports or process electronic payments because we want to check all your setup figures first. 168 Unit 9: Payroll Consolidation Ex FNSBKPG405A Establish and Maintain a Payroll System v18 Copyright 2008 Marian Brown

5 TASK 2 [PRINTOUT 32] Print Payroll Journal for 7/month Payroll Journal ID# Account # Account Name Hours Debit Credit 7/month Alison Brown Electronic Clearing Account $ Base Hourly 38 $ Meal Allowance 1 $ Overtime 3 $ Shift Allowance $ PAYG Withholding $ Holiday Leave Accrual - Staff $ Personal Leave Accrual - Staff $ Superannuation Guarantee $ Superannuation Guarantee $ /month Bob Miller Electronic Clearing Account $ Base Salary $1, Child Support Payable $ PAYG Withholding $ Holiday Leave Accrual - Manager $ Personal Leave Accrual - Managr $ Superannuation Guarantee $ Superannuation Guarantee $ /month David Watson Electronic Clearing Account $ Base Hourly 20 $ PAYG Withholding $79.00 Check your pays carefully. If you find an error: (a) (b) (c) (d) Correct date or bank account. Delete the pay to fix other errors. Correct the error on the Employee s Card or Payroll Category. Process the pay again using the following option. Copyright 2008 Marian Brown FNSBKPG405A Establish and Maintain a Payroll System v18 Unit 9: Payroll Consolidation Ex 169

6 TASK 3 Prepare Electronic Payments data file to transfer to Bank on 7/month (i) (ii) In the Payroll Command Centre [because you have closed your Process Payroll window to check the accuracy of your setup], select Prepare Electronic Payments. Key in payment date: 7/month and select all pays. You may receive a date warning ignore. (iii) Prepare the Bank File to transfer to the Bank. TOTAL = $1, TASK 4 [PRINTOUT 33] Print Electronic Payments Register for 8/month Print a copy of the Electronic Payments Register. Before the file is transferred to the bank, what procedures must be followed?.... TASK 6 Process Pays paid 14/month pay period 8/month to 14/month EMPLOYEE PAYROLL DETAILS Alison Brown See timesheet on the following page [Task 5] Net Pay = $ Bob Miller Salary for the week no variations Net Pay = $ David Watson Worked 18 hours Net Pay = $ Unit 9: Payroll Consolidation Ex FNSBKPG405A Establish and Maintain a Payroll System v18 Copyright 2008 Marian Brown

7 TASK 5 Calculate hours worked by Alison Brown from the Timesheet below Daily working hours are 7 hours 45 minutes plus 45 minutes for lunch between 6.30 am 6.30 pm Monday to Thursday Friday with 45 minutes for lunch Overtime: Monday to Friday: time and a half is paid for the first 2 hours of overtime, double time after 2 hours. Before overtime is allowed on any day, a 30 minute tea break must be taken. A Meal Allowance will be paid. Time and a Half on Saturdays, Double Time on Sundays and Public Holidays = 8.30 am, 1700 = 5.00 pm Time Sheet Day Start Time Finish Time Breaks [minutes] Total Hours of work Ordinary Time Alison Brown Meal Allowance Monday Tuesday Wednesday Thursday Friday Employee Certification: I certify that the above hours are correct, no injuries have been sustained or my job description has not changed. I also understand wages will not be paid unless this time sheet has been authorised by a supervisor and received by the Payroll Manager on time. Total Hours ] Supervisor Certification: I verify that the hours on this time sheet are correct. Please ask your supervisor to approve the payment of this Time Sheet. Employee Signature: Supervisor Signature: TASK 7 Prepare Electronic Payments Bank File Total = $1, Replace Electronic Payments data file. TASK 8 [PRINTOUT 34] Print a Pay Slip for each employee TASK 9 [PRINTOUT 35] Print Payroll Activity [Summary] report for 14/month Check your Payroll Activity [Summary] report with the printout on Page 177. Identify any errors and make the necessary corrections. Copyright 2008 Marian Brown FNSBKPG405A Establish and Maintain a Payroll System v18 Unit 9: Payroll Consolidation Ex 171

8 TASK 10 - Process Pays paid 21/month pay period 15/month to 21/month EMPLOYEE PAYROLL DETAILS Alison Brown 18 hours Personal Leave 15 th 18 th medical certificate Worked 20 hours. Paid full Shift Allowance Net Pay = $ Bob Miller On Holiday Leave for 1 week 38 hours Net Pay = $1, David Watson Worked 10 hours Net Pay = $ TASK 11 Prepare Electronic Payments Bank File Total Amount = $1, TASK 12 [PRINTOUT 36] Print Payroll Summary report for 21/month Check your Payroll Summary report with the printout on Page 177. TASK 13 - Process Pays paid 28/month for period 22/month to 28/month EMPLOYEE PAYROLL DETAILS Alison Brown Bob Miller David Watson Worked 30.4 hours hours holiday hours leave loading Net Pay = $ On 2 weeks holiday leave 76 hours Net Pay = $2, [Hint: Process Bob s pay separately and remember to use the Leave in Advance option.] Worked 15 hours Net Pay = $ TASK 14 Prepare Electronic Payment Bank File Total Amount = $2, Unit 9: Payroll Consolidation Ex FNSBKPG405A Establish and Maintain a Payroll System v18 Copyright 2008 Marian Brown

9 TASK 15 [PRINTOUT 37] Print Payroll Advice report for 28/month TASK 16 [PRINTOUT 38] Print Payroll Register [Summary] for MONTH Check your Payroll Register report with the printout on Page 178. TASK 17 [PRINTOUT 39] Print a Profit and Loss for the MONTH Check your Profit and Loss report with the printout on Page 178. TASK 18 [PRINTOUT 40] Print Balance Sheet at the end of the MONTH Check your Balance Sheet report with the printout on Page 179. TASK 19 Reconcile your Payroll for the MONTH Gross Wages as per Payroll Register: Total Payroll Expenses as per Profit and Loss: Superannuation as per Payroll Register: Superannuation as per Profit and Loss: Superannuation as per Balance Sheet PAYG Withholding as per Payroll Register: PAYG Withholding as per Balance Sheet: TASK 20 [PRINTOUT 41] Print Superannuation Accrual by Fund [Summary] report TASK 21 Using Pay Liabilities pay the following date end of month you are using (i) (ii) Enter the cheque to pay amount owing to Sunsuper. Check the amounts with Printout 41. Enter the cheque to pay the ATO for Child Support withheld. Copyright 2008 Marian Brown FNSBKPG405A Establish and Maintain a Payroll System v18 Unit 9: Payroll Consolidation Ex 173

10 TASK 22 [PRINTOUT 42 and 43] Prepare the monthly Business Activity Statement for the month printing the BAS Transaction [PAYG Withholding owing only]. Use this printout to enter the cheque to the ATO. GST and PAYG is reported monthly. [Not registered for PAYG instalments] Prepare and print the monthly Business Activity Statement, setting up the PAYG Withholding. Print the BAS Transaction. [The business does not use the Payroll Clearing A/c.] Enter the cheque to pay amount owing to ATO date end of month you are using. TASK 23 [PRINTOUT 44] Print a Balance Sheet as at 1 st next month Do the following accounts have a 0 balance? - Child Support - Superannuation - PAYG Withholding Payable TASK 24 [PRINTOUT 45] Print the Payment Summary on 30 June for ALISON BROWN Print the Payment Summary for Alison Brown. Do not save a copy. The Magnetic Media Information and EMPDUPE file are not required. Enter Alison s name as the contact person. Bob Miller will sign the Payment Summary TASK 25 [PRINTOUT 46] Payroll Verification report Payment Summaries TASK 26 [PRINTOUT 47] Payroll Register [Detail] report for the YEAR Print a copy of the Payroll Register [Detail] report for the YEAR and on this report write your reconciliation with the Payroll Verification report. TASK 27 [PRINTOUT 48] Entitlements Balance Detail for Alison Brown for the year adding Notes TASK 28 [PRINTOUT 49] All Transaction Journals for the month Assemble all the printouts in Unit 9 in an orderly manner. Your supervisor may wish to use these for assessment. Follow the instructions of your supervisor. 174 Unit 9: Payroll Consolidation Ex FNSBKPG405A Establish and Maintain a Payroll System v18 Copyright 2008 Marian Brown