Introduction
This assessment covers all sections in your unit textbook and Learning Resource.
When you have completed this assessment, upload your completed answers on the OLS (www.oten.edu.au/ols) via the unit Assessment tab.
Assessment Overview
This assessment requires you to establish and administer an electronic payroll system for a small business Smith & Jones Pty Ltd in accordance with all legislative and organisational requirements.
The company General Manager, Kim, has asked you to establish an electronic payroll system using the MYOB software. The electronic payroll system is commencing at the beginning of the month you are currently in. Ensure your payroll year reflects this.
You will find the details of the company’s payroll procedures in the Attachment A and employees’ payroll details in the Attachment B of this assessment.
It is important to read through the whole assessment including both attachments before attempting the assessment tasks.
You need to access and use a computer, internet and MYOB software to complete this assessment. You will find a copy of the MYOB Student Edition (SE) program in the unit textbook for this assessment.
As you progress the assessment tasks, you are required to produce MYOB reports showing your completion of the task requirements. The MYOB reports are to be produced from the MYOB program and saved as PDF for submission.
2 Assessment 1, LA023912, Unit code BSBFIM502, Edition number 2
© New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 1, October 2018
Task 1
Access the Award for employees to refer to in this assessment.
Employees are employed under the General Retail Industry Award. The Award can be accessed on the FairWork website (https://www.fairwork.gov.au/).
Task 2
2.1 Setup the company payroll file using the information below.
Company Name
Smith & Jones Pty Ltd
ABN
11 234 567 899
Address
50 Wentworth Road,
Strathfield NSW 2135
Phone: 02 9715 8000
Financial and payroll Year Information
• Financial Year – Current year
• Payroll Year – Current year
• Last month – June
• Conversion month – July 1st (current financial year)
• Accounting periods – 12
Account List
• Industry classification – Other
• Type of business – Retail Business, Other
• As supplied by MYOB
Full work week hours
38
File Name
Smith&Jones_YOURNAME.myo
Save the file to a suitable location on your computer
2.2 Turn on the MYOB audit trail option.
Assessment 1, LA023912, Unit code BSBFIM502, Edition number 2 3
© New South Wales Technical and Further Education Commission, 2018 (TAFE NSW – TAFE Digital), Archive version 1, October 2018
Task 3
3.1 Check and/or modify the following payroll linked accounts.
Type of Account
Account Number & Name
Bank account for cash payments
1-1110 ANZ cheque account
Bank account for cheque payments
1-1110 ANZ cheque account
Bank account for electronic payments
1-1190 Electronic Clearing
Default employer expense account
6-1920 Superannuation
Default wages expense account
6-1930 Salaries and wages
Default tax/deductions payable account
2-1420 PAYG withholding payable
3.2 Create and/or modify the following accounts in the accounts list.
Account #
Account Name
Account Details
1-1110
ANZ Cheque Account
Opening balance: $30,000
BSB: 111-333; A/C #: 52395425
A/C name: Smith & Jones Pty Ltd
Trading name: SMITHJONES
2-1420
PAYG Withholding payable
Opening balance: $0
2-1430
Medical Fund payable
Opening balance: $0
2-1440
WorkCover Insurance payable
Opening balance: $0
2-1450
Workers Union payable
Opening balance: $0
2-1460
AMP Life Super payable
Opening balance: $0
2-1470
Child Support payable
Opening balance: $0
6-1920
Superannuation
Opening balance: $0
6-1930
Wages & Salaries
Opening balance: $0
6-1940
WorkCover Insurance
Opening balance: $0
6-1960
Personal Leave
Opening balance: $0
6-1970
Holiday Leave
Opening balance: $0
6-1980
Long Service Leave
Opening balance: $0
6-1990
Overtime 1.5x
Opening balance: $0
6-1995
Overtime 2x
Opening balance: $0
4 Assessment 1, LA023912, Unit code BSBFIM502, Edition number 2
© New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 1, October 2018
Task 4
Check, create and/or edit payroll accounts using the information in the Attachment A.
• Superannuation Fund
o AMP Life Superannuation (company’s default superannuation fund)
o Employer membership number: 11223344
• Leave Accrual Entitlements
o Setup ‘Holiday leave accrual-staff’ and ‘Personal leave accrual-staff’ entitlement for base hourly employees
o Setup ‘Holiday leave accrual-manager’ and ‘Personal leave accrual-manager’ entitlement for base salary employees
o Setup ‘Long service leave accrual’ entitlement
o Carry unused entitlement over to next year
o Show entitlements on pay advice
• Deductions:
o Setup Child support, Medical fund, and Union fees
o Link their payable accounts correctly in the employee card file
• Expense:
o Setup WorkCover Insurance
o Link its expense account and payable account correctly in the employee card file
Task 5
Create employee’s employment and payroll record using the information provided in the Attachment B.
Enter their pay history details and accrued entitlements.
Access and use the pay scale in the General Retail Industry Award in Task 1 to calculate the hourly rate for base hourly employees.
Check and ensure all employees’ card file setup are correct on record.
Produce the following MYOB reports and save them in PDF for submission:
Employee Employment Details report for all employees showing the following information
Name
Card ID
Gender
Date of birth
Address
Phone #
TFN
Start date
Employment Classification
Employment basis
Employment category
Employment status
Payment method
Pay frequency
Hours in pay period
Pay basis
Tax scale
Hourly rate
Annual salary
Superfund
Super member #
Register Summary report as at 1st July current financial year
Entitlements Balance Summary report showing all entitlements as at 1st July current financial year
Assessment 1, LA023912, Unit code BSBFIM502, Edition number 2 5
© New South Wales Technical and Further Education Commission, 2018 (TAFE NSW – TAFE Digital), Archive version 1, October 2018
Task 6
Process all employees’ pays for week 1 in your current month. Ensure that week 2 and 3 payroll in Task 7 and 8 are processed within the same month.
• Sandy Brown worked 8 hours
• Fred Jones took 7 hours sick leave
• Julie Simpson worked 3 hours overtime at 1.5x
• No pay slips need to be printed
• Produce Week 1 MYOB Payroll Advice report for all employees.
• Check, and reconcile and adjust payrolls on record for discrepancy, if any, to ensure their correctness.
• Forward your Payroll Advice report (see Report requirement below) to the delegated personnel for payment authorisation pursuant to the Company Payroll Procedures – Record Keeping and Security Clause 1 and 2 (see Attachment A)
MYOB report for submission:
Week 1 MYOB Payroll Advice report for all employees
Task 7
Process all employees’ pays for week 2 in your current month.
• George Smith worked 3 hours overtime at 1.5x
• Julie Simpson took one day sick leave (7¾ hours)
• Sandy Brown worked 10 hours in the week
• Fred Jones took 38 hours long service leave
• No pay slips need to be printed
• Produce Week 2 MYOB Payroll Advice report for all employees.
• Check, and reconcile and adjust payrolls on record for discrepancy, if any, to ensure their correctness.
• Forward your Payroll Advice report (see Report requirement below) to the delegated personnel for payment authorisation pursuant to the Company Payroll Procedures – Record Keeping and Security Clause 1 and 2 (see Attachment A)
MYOB report for submission:
Week 2 MYOB Payroll Advice report for all employees
6 Assessment 1, LA023912, Unit code BSBFIM502, Edition number 2
© New South Wales Technical and Further Education Commission, 2018 (TAFE NSW), Archive version 1, October 2018
Task 8
Process all employees’ pays for week 3 in your current month.
• Fred Jones took 2 hours sick leave in the week
• George Smith took 38 hours holiday leave
• Sandy Brown worked 12 hours in the week
• No pay slips need to be printed
• Produce Week 3 MYOB Payroll Advice report for all employees.
• Check, and reconcile and adjust payrolls on record for discrepancy, if any, to ensure their correctness.
• Forward your Payroll Advice report (see Report requirement below) to the delegated personnel for payment authorisation pursuant to the Company Payroll Procedures – Record Keeping and Security Clause 1 and 2 (see Attachment A)
MYOB report for submission:
Week 3 MYOB Payroll Advice report for all employees
Task 9
Reconcile all payroll liabilities – deductions, superannuation, PAYG withholding and WorkCover insurance.
• Produce MYOB Payroll Register (Summary) report for current month
• Produce MYOB Profit and Loss Statement for current month
• Product MYOB Standard Balance Sheet as at end date of current month
• Manually reconcile the records in the Payroll Register (Summary) report against the records in the Profit and Loss Statement and Standard Balance Sheet to ensure that the records have agreed with each other.
MYOB reports for submission:
Register (Summary) report as at end date of current month
Profit and Loss Statement for current month
Standard Balance Sheet as at end date of current month
Assessment 1, LA023912, Unit code BSBFIM502, Edition number 2 7
© New South Wales Technical and Further Education Commission, 2018 (TAFE NSW – TAFE Digital), Archive version 1, October 2018
Task 10
Pay all payroll liabilities in accordance with the Company Payroll Procedures.
MYOB reports for submission:
Payroll Liabilities by each Category showing their paid status
Entitlement Balance (summary) report at end date of current month
Bank Register report showing correct payment to all parties
Audit Trail report for 1/current month to 30/next month
Submission Checklist
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