BSBFIA302 Process payroll - Assignment 2

What you have to do

In this assessment you are required to complete two tasks: Task 1 a practical exercise in processing payroll using MYOB and Task 2 which includes case studies and theory questions. When you have completed the tasks you are required to send reports as an attachment when submitted online via the OLS.

Complete this assessment when you are confident with the work completed in Section 4 of the Learning Resource.

Remember, if you are unsure of the answer or the process required you should refer to the HELP facility available within MYOB (offline and online).

Task 1

Load the MYOB program onto your computer:

• Open MYOB
• Click on the second option “Create a New Company File”
• Click “next”
• Ignore the 12 digital serial number
• Go to company name and enter XYZ Pty Ltd your name
• Enter ABN 12331002441
• Enter Address: 53 Wahroonga Road, Maroubra NSW  2530
• Click “next”
• Current Financial Year: Enter current year (CY)
• Last month of Financial Year: June
• Conversion Month: July
• Number of Accounting Periods: 12
• Click “next”
• Click “next”
• Click “next”
• Industry Classification: Service
• Type of Business: Accounting Firm
• Click “next”
• Click “next”
• You will receive a “Congratulations” message
• Click on “Set Up Assistant”
• Click “Payroll”
• Click “next”
• Click on “Load Tax Tables”.
• Click “next”
• Current payroll year: Enter current year (CY)
• Click “next”
• Click ‘next”
• Full work week hours: 35
• Withholding payer number: 00333433845
• Default Superannuation Fund: Spectrum Super
• Round net pay down to a multiple of “5” cents
• Press “close”

Background

You work for XYZ Company Pty Ltd your name where you are asked to process the payroll for June CY (Current Year).

The employees are paid time and a quarter (x1.25) for overtime on weekdays, time and a half (x1.5) for Saturday mornings and double time(x 2) for Saturday afternoons.

• Only employees on hourly rate are entitled to overtime.
• All employees are paid by

Activity 1

Create three new employee records for Glen Foster, Denise Chen and Chris Lui.

Glen Foster and Denise Chen are employed on a casual basis. Their wages details are in the tables below. They are entitled to:

Overtime Wages

• Overtime (1.25x)
• Overtime (1.5x)
• Overtime (2 x)

Chris Lui is a permanent full time employee. He is entitled to:

• Wages
• Holiday Pay
• Sick pay

Superannuation – all employees - Superannuation Guarantee (with Super Spectrum)

Entitlements – Chris Lui

• Holiday Leave Accrual
• Sick Leave Accrual

Deductions - check employees card below

Employer Expenses – all employees - WorkCover

Taxes - all employees - PAYG Withholding (already ticked)

When uploading your assessment to the OLS please display your report to the screen then select the “Send to” button and select Excel.

Please use a new sheet for each report and name them appropriately within the one workbook, save your workbook and upload for marking.

Display “Report” and click on “Send to” button and export to excel the following report:

Employees Employment details

Only select the following Report Fields:

• Name
• Tax file number
• Payment method
• Pay Basis
• Tax Scale
• Hourly Rate
• Annual Salary
• Superannuation Fund

Activities 2 to 4

You are about to pay employees for three weekly pay runs for the current month you are in (using your current financial year). The employees will be paid the following Tuesday after the pay run. (NOTE: Use the dates of your choice so long as employees are paid for a full week each pay run).

Activity 2

Week 1:

• Display Employees Payroll Advice for this week’s payroll (do not print on separate pages).
• Check details appear correct, display “Report” and click on “Send to” button and export to excel.

Activity 3

Week 2:

• Display Employees Payroll Advice for this week’s payroll (do not print on separate pages)
• Check details appear correct, display “Report” and click on “Send to” button and export to excel.

Activity 4

Week 3:

• Display Employees Payroll Advice for this week’s payroll (do not print on separate pages).
• Check details appear correct, display “Report” and click on “Send to” button and export to excel.

Activity 5

G Foster’s supervisor informs you he worked 4 hours at 1.25 not 5 hours for week 3. You are required to correct his pay and re display his pay advice only and click on “Send to” button and export to excel.

Activity 6

Display and click on “Send to” button and export to excel  Employees Payroll Register Summary for Current Month/Current Year

Task 2

1. If you are experiencing difficulties with recording or processing a transaction, what steps would you take to access help using MYOB help? (Either online or offline).
2. You receive a payroll inquiry from an employee who thinks they have been What procedures might you follow to check out the employee’s claim? (At least six items should be listed).
3. What information should be included on an employee’s pay advice?
4. If when processing the payroll you notice an irregularity such as an unusual payment, what should you do?

Case study

Refer to your MYOB assessment file for XYZ Company.

You are required to follow up the enquiries below:

1. Chris Lui has rung to check on the balance of his holiday leave accrual hours
2. What report do you run to check this for him?
3. How much annual leave would you tell him he has?
4. The financial controller is checking the cash flow for the period and can’t find the figures for the monthly payroll (for Current Month Current Year). He asks you to provide him with the following information:
5. What is the PAYG tax payable for the month?
6. What is the Superannuation Guarantee liability for the month?
7. The financial controller has requested the amounts that need to be paid for the 3 pays for the employees Please advise the following:
   1. What report would you run to find this information out?
   2. What are the total amounts for:
      1. Health Fund:                                                                            
      2. Savings Plan:                                                                           

• Union Fees:  _____________________________________

Checklist

I have:

• answered all questions in the space provided
• clearly identified my answers

If you are unable to complete this task for a specific reason, please contact your teacher to discuss alternative arrangements for demonstrating your skills and knowledge.