FNSBKG405A ESTABLISH AND MAINTAIN A PAYROLL SYSTEM

Transcription

1 FNSBKG405A ESTABLISH AND MAINTAIN A PAYROLL SYSTEM Task Topic Element of competency 1 Set up payroll in accordance with company obligations 2, 3 Prepare and process payroll records. Handling payroll enquiries. Process and maintain leave payments 4, 5 Accounting for payroll including deductions paid month end 6, 7 Month-end & Year-end procedures FNSBKG405A/1 FNSBKG405A/2 FNSBKG405A/2 FNSBKG405A/3 FNSBKG405A/4 FNSBKG405A/2 FNSBKG405A/3 FNSBKG405A/4 FNSBKG405A/2 FNSBKG405A/3 FNSBKG405A/4 ASSESSMENT 2 Ensure you have submitted a printout or file via SAKAI for: Marks available Marks required to achieve competency N/A b) 3a) 3b) 3c) 3d) 3e) 3f) 4a) 4b) 5a) 5b) 6a) 6b) 7a) 7c) 2b) 5.0 3a) 5.0 3b) 5.0 3c) 5.0 3d) 5.0 3e) 5.0 3f) 5.0 4a) 5.0 4b) 5.0 5a) 5.0 5b) 5.0 6a) 5.0 6b) 5.0 7a) 5.0 7c) 5.0 Total FNSBKG405A - Assessment 2 V1 Meadowbank TAFE NSI Page 1 of 9

2 In June 2011, Al's Barber Shop made the decision to start using MYOB. The business has two employees, Debbie and Sam. Debbie had been with the business since 2005 and is employed on a full time basis (40 hours per week), and Sam commenced as a casual on 1 June You are required to setup the business in MYOB, including all the necessary payroll information to allow processing of the June 2011 pays. On completion of all the month end and year end procedures, you will be required to print payments summaries and roll the file into the new Payroll year. 1. Set Up Company in MYOB Company Details: Company Name: Al's Barber Shop [Your Name] ABN: Address: 22 Yellow Brick Road Melbourne VIC 3000 Phone number: (03) Last Month of Financial Year: Conversion Month: Number of Accounting Periods: Type of Business: Location to Save: June June Twelve Barber Shop Desktop or USB Accounts: Accounts: Add account: Edit account: Superannuation Payable Pyramid Cheque Account (from Cheque Account) Bank account details: BSB: Account #: Bank account name: Al's Baber Shop Trading Name Al's Baber Shop Bank ID: PYB Direct entry User ID: 475 FNSBKG405A - Assessment 2 V1 Meadowbank TAFE NSI Page 2 of 9

3 Trial Balance: Al's Barber Shop Trial Balance at 31 May, 2011 Debit Pyramid Cheque Account 49,000 Inventory 2,500 Store Equip at cost 15,000 Store Equip Accum Depn -3,000 Credit Trade Creditors 5,400 Bank Loan 15,000 Owner s Capital 3,280 Sales - Hair Cuts 167,000 Advertising 2,000 Shop Supplies 3,000 Superannuation 9,180 Wages and Salaries 102,000 Rent 11, , ,680 Payroll Information: General payroll information and linked accounts: Withholding Payer Number: Default Superannuation Fund: Round Net Pay Down to a Multiple of: Snips Super 5 cents Payroll linked accounts: Account for Cash Payments Payoll Cheque Account Account for Cheque payment Pyramid Cheque Account Account for Electronic Payments Electronic Clearing Account for Employer Expenses Other Employer Expenses Account for Wages paid Wages & Salaries Account for Deductions & Expenses Payroll Accurals Payable FNSBKG405A - Assessment 2 V1 Meadowbank TAFE NSI Page 3 of 9

4 Payroll Categories: Payroll Category- Wages: Holiday Leave Loading >$320 Hourly Regular Rate x.175 Holiday Leave Loading < $320 Hourly Regular Rate x.175 Exempt from PAYG Withholding Sick Pay: Holiday Pay: Adjust Base Hourly or Salary Details Adjust Base Hourly or Salary Details Payroll Category- Deductions: Union Fees: Health Insurance: User-Entered Amount Per Pay User-Entered Amount Per Pay Payroll Category- Entitlements: Holiday Leave Accrual: 4 weeks per Year Sick Leave Accrual: < 12 Months 5 days per Year Linked to Sick Pay > 12 Months 8 days per Year Linked to Sick Pay Add: Holiday Leave Accrual - Casual 7.692% of gross hours Linked to Holiday Pay Payroll Category- Superannuation: Superannuation Guarantee: Linked to Superannuation Exp Linked to Superannuation Payable Exempt- All Holiday Leave Loading / Bonus/ Advance / Overtime / Unused Leave. FNSBKG405A - Assessment 2 V1 Meadowbank TAFE NSI Page 4 of 9

5 Payroll Category- Taxes: PAYG Withholding: Employee Details: Linked to PAYG Withholding Payable Employee 1 Employee 2 Profile tab Last name Duncan Hill First Name Debbie Sam Employee ID AB01 AB02 Address 1 West St 2 East St City Melbourne Melbourne State VIC VIC Postcode Country Payroll Details tab: Personal Details Payroll Details tab: Wages Position Hairdresser Hairdresser DOB 20/5/ /4/1989 Gender Female Male Start Date 17/7/2005 1/6/2011 Employment Basis Individual Individual Category Permanent Permanent Status Full Time Casual Pay Basis Salary Hourly Salary/Rate $57,500 pa $22.95 pa Pay Period Weekly Weekly Wage Categories Base Salary Holiday Pay Holiday Loading X 2 Long Service Leave Sick Pay Base Hourly Commission Holiday Pay Holiday Loading X 2 Payroll Details tab: Superannuation Payroll Details tab: Entitlements Superannuation Fund Snips Super Snips Super Employee Member # Superannuation categories Super Guarantee Super Guarantee Entitlements Holiday leave Pro rata holiday leave categories included Sick Leave > 12 months Holiday Leave Accrual - Carry over 105 hours n/a Sick Leave Accrual - Carry over N/a n/a FNSBKG405A - Assessment 2 V1 Meadowbank TAFE NSI Page 5 of 9

6 Payroll Details tab: Deductions Deductions categories included Health insurance Union Fees Payroll Details tab: Taxes Payroll Details tab: Standard Pay Year to date pay history Tax File Number Tax table Tax free threshold + HECS or HELP No tax free threshold Tax categories PAYG Withholding PAYG Withholding included Total Rebates p.a. $1,200 Nil Extra tax per pay Nil $15 Health Insurance -$65.00 Union Fees -$10.00 Base Salary 50,208 Holiday Leave 2,500 HLL < $320: 320 HLL > $320: 137 Sick Leave 425 Super Guar 4,743 Health ins 3,120 Union Fees 480 Payroll Details tab: Pay History Payment Details tab PAYG W h 11,300 HL Accrual - YTD 51 hrs SL Accrual - YTD 33 hrs Payment method Electronic Cheque Bank Account BSB details A/C DEBBIE DALLAS FNSBKG405A - Assessment 2 V1 Meadowbank TAFE NSI Page 6 of 9

7 2. Process the Pays for June 2011: From the information shown on the weekly timesheet summaries: a) Process the weekly pays; b) Print the weekly Pay Slips; and c) Prepare electronic payments. Timesheet Summary for week ending 7/06/11 (paid 8/06/11): Debbie Sam Ordinary hours salary 23 hours Annual Leave 0 0 Annual LL < $ Annual LL > $ Sick Leave 0 n/a Commission n/a $ Timesheet Summary for week ending 14/06/11 (paid 15/06/11): Debbie Sam Ordinary hours salary 21 hours Annual Leave 0 0 Annual LL < $ Annual LL > $ Sick Leave 1 day n/a Commission n/a $ Timesheet Summary for week ending 21/06/11 (paid 22/06/11): Debbie Sam Ordinary hours salary 26 hours Annual Leave 2 days 0 Annual LL < $ Annual LL > $320 2 days 0 Sick Leave 0 n/a Commission n/a $82.50 FNSBKG405A - Assessment 2 V1 Meadowbank TAFE NSI Page 7 of 9

8 Timesheet Summary for week ending 28/06/11 (paid 29/06/11): Debbie Sam Ordinary hours salary 23 hours Annual Leave 0 4 hours Annual LL < $ hours Annual LL > $ Sick Leave 0 n/a Commission n/a $ Print End of Month Reports: a) Print the Payroll Summary report for June b) Print the Payroll Register [Summary] report for June c) Print the Payroll Activity [Summary] report for June d) Print a Profit and Loss report for June e) Print a Balance Sheet as at 30 June f) Print the Entitlement Balance [Summary] report for June Checks and Balances June 2011: a) Reconcile Gross Wages and Superannuation: Wages, Salaries and Allowance Profit & Loss Wages expense Payroll Activity Summary Superannuation Expense Profit & Loss Superannuation Expense Payroll Activity Summary b) Reconcile the PAYG Withholding: PAYG Withholding Payable Balance Sheet PAYG Withholding Payable Payroll Activity [Summary] FNSBKG405A - Assessment 2 V1 Meadowbank TAFE NSI Page 8 of 9

9 5. Pay Payroll Liabilities - June 2011: Arrange for the payment of the following employee liabilities on 30 June 2011: a) Health Insurance Cuts Health Fund b) Union Fees - Fine Cuts Union c) Superannuation Snips Superannuation Fund d) PAYG Withholding Australian Taxation Office On completion of the payments: a) Print the Balance Sheet as at 30 June 2011 to confirm all of the payroll liabilities have been paid. b) Print a Bank Register report for June Prepare & Print Payment Summaries: a) Prepare and print the Payment Summaries for the 30 June 2011 financial year for each employee. Additional information required: Mandatory Contact Name: Harvie Maxwell. Mandatory Phone: b) Create an EMPDUPE FILE and save to your desktop of hard drive. 7. Roll Over the Payroll Year: a) Create a backup of your data file using the name Al's Baber Shop 2011 EOY[Your Name].zip b) Roll over the payroll into the 2012 financial year. c) Print a Trial Balance at 1 July Ensure you have completed requirements 1 7 and submitted your reports and files via the SAKAI site as shown on page 1. FNSBKG405A - Assessment 2 V1 Meadowbank TAFE NSI Page 9 of 9