BSBFIM502 - Main Elements for Manage Payroll - Management Assignment Help

Assignment Task -

What are the main elements?

There are four elements to manage payroll.

1. Establish procedures for management of payroll

2. Prepare payroll data

3. Authorise payment of salaries

4. Administer salary records

Prepare payroll data

“The WAMco Payroll System is very sophisticated, but it has been some time since I have had the opportunity to check the payroll figures it produces since I have been on my own in this department for so long. What I would like you to start this afternoon is a manual check of a random employee’s gross pay and annual salary calculation and compare your figures with those produced by the WAMco Payroll system” says Penny.

“Shouldn’t the WAMco payroll systems be accurate?” you ask. “Yes, but it is important to reconcile the system using manual calculations. Late last year, I realised when I was undertaking a manual check that the system was not accounting for some specific deductions and we cannot allow that to happen again” states Penny.

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