BSBFIM502 - Manage Payroll - Diploma of Business Administration - Business Assignment Help

BSBFIM502: Manage Payroll Diploma of Business Administration Assignment Help

Assignment Task:

Scenario:

You are the Payroll Officer for ABC Fast Foods, a fast-food restaurant. Details of the business are below.
Business details
Address: Shop 5, Australia Fair Shopping Centre,
42 Marine Parade, Southport Qld 4215.

ABN: 12 345 678 910
Withholding payee number: 104
Employer name: ABC Fast Foods
Contact: Your name and mobile phone number

Opening hours
Mon-Wed/Fri/Sat 9:00am – 17:30pm
Thur 9:00am – 21:00pm
Sun 10:30am – 16:00pm

1. As the Payroll Officer, you have been asked to develop a set of policies and procedures for managing payroll based on the following six (6) points. Include at least three (3) procedures for each point. Follow the layout instructions below when creating the policies and procedures. Layout instructions:

•  Include a title for your policies and procedures.
•  Include a short policy statement of 3 to 5 lines to clarify the intent of the policy and highlight the commitment of the organisation relating to the policy.
•  Include a header on each page with your name and student number.
•  Number each policy point (1, 2, 3, 4, 5 & 6) and include an appropriate heading at the start of each section.
•  Include a minimum of three (3) procedures for each policy and ensure they are written as complete sentences (not in point form).
•  Type the report using a computer and print on clean white paper in 12 point Times New Roman or Arial font.

i. Security to ensure the confidentiality and security of payroll information.

ii. Substantiation of claims for allowances.

iii. Control measures to safeguard the organisation`s financial resources in accordance with
legislative and organisational requirements.

iv. Checking of payroll and authorisation of salaries and wages for payment.

v. Reconciliation of salaries, wages, and deductions.

vi. Employee inquiries related to salaries and wages.

2. As the Payroll Officer, one of your duties is to manage the weekly pays for the staff. The current date is the 16 th of July 2018 and you must calculate the pays for the week prior. Currently, there are five (5) existing employees employed under the following conditions:

i. Research the modern award for the Fast Food Industry (MA000003) and calculate the gross pay for all five (5) employees as per the roster for the period 8th – 14 th July 2018. You must use the ‘Manage Payroll calculating pays template’ attached to show your understanding and interpretation of a Modern Award, as well as your calculations.

ii. Using the current weekly tax tables (NAT1005) calculate the applicable tax for all five (5) employees.( this has been emailed to you

iii. Complete the payslip below for Mrs Janice Wright (employee #2) only.

iv. Complete a TFN declaration form for the following new employee.

•  TFN: 100 489 128
•  Name: Ms Jennifer Brown
•  DOB: 5/6/1988
•  Address: 10 James St, Burleigh Q 4220
•  Employment status: Casual

v. Prepare the Employee Summary (Group Certificate) for the previous financial year for Mrs Janice Wright (employee #1). Assume that Janice worked the same shifts every week during the last financial year.

vi. Complete a Business Activity Statement (BAS) based on the following details:

•  Collected $15000 in GST (1A on the BAS)
•  Paid $9500 in GST (1B on the BAS)
•  Withheld $6500 in PAYG withholdings tax on staff wages (4 on the BAS)
•  PAYG Income Tax Installments are $2300 (5A on the BAS)
•  Complete 8A and 8B then work out if you have a payment or refund

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