FNS40222: Certificate IV in Accounting and Bookkeeping Assessment

Assignment Overview

Task 1

In accordance with Office Furnishings Pty Ltd Payroll Processing procedures, process the pay run for the 1st week for all employees using the timesheets & calculations from Assessment 2 - Part A file

(a) Create the Pay Run using the following details:

• Pay cycle: Weekly

• Pay period start: 8/06/2025

• Pay period end: 14/06/2025

• Date of payment: 16/06/2025

(b) Check the MYOB Business pay calculation for all employees against your manual calculations. If you have a discrepancy, check your payroll data, and make the necessary corrections.

(c) Produce the Payroll Activity Report and Payroll Verification Report by using the ‘Preview pay run activity’ and ‘Preview pay details’ buttons at the bottom on the Calculate pays section in the process before Recording the pays.

Save these reports as PDF

• PDF Report - Task 1 - Payroll Activity Report

• PDF Report - Task 1 - Payroll Verification Report

(d) Record the pay run & lodge STP

(e) Email the payslips & save a PDF of each payslip, check that all the information required has been printed on the payslips.

• PDF Report - Task 1 - 1st JWilson

• PDF Report - Task 1 - 1st JHill

• PDF Report - Task 1 - 1st SMacdonald

• PDF Report - Task 1 - 1st ACamel

• PDF Report - Task 1 - 1st MLamb

(f) Pay Employees via Electronic Payments (Transaction Date of 16th June 2026). Ensure you select all the employees, use the correct bank account and payment date. Download the Bank File (Ignore the error about the Date not being today’s date) you are now ready to send to the bank for your 4:00pm cut off.

• Bank File - Task 1 - Electronic Payment File

Task 2

(a) Refer to Assessment 2 - Part A. In accordance with Office Furnishings Pty Ltd Payroll Processing procedures, process the pay run for the 2nd week ending 21st June 2026 for all employees.

(b) Record the pay run, produce the Payroll Activity report and Payroll verification report, email the payslip/s and create the Electronic Payments ready to send to the bank for your 4:00pm cut off.

• PDF Report - Task 2 - Payroll Activity Report

• PDF Report - Task 2 - Payroll Verification Report

• PDF Report - Task 2 - 2nd JWilson

• PDF Report - Task 2 - 2nd JHill

• PDF Report - Task 2 - 2nd SMacdonald

• PDF Report - Task 2 - 2nd ACamel

• PDF Report - Task 2 - 2nd MLamb

• Bank File - Task 2 - Electronic Payment File

Task 3

Jack Wilson resigned on Friday 12th June & gave 1 weeks notice as required. The manager Tony has only just given you the paperwork on Wednesday 24th June after the wages have been processed and paid yesterday. Jack's final day of work was Friday 19th June. Due to Tony forgetting to give you the paperwork, Tony has asked you to process the termination on Thursday 25th June and make payment. Referring to the calculations you performed in Assessment 2 Part A, process the termination into MYOB.
Process payout of Unused Annual Leave and Annual Leave Loading.

For the purposes of this exercise:

(a) Run a Leave Balance Report using the from 1st June 2026 and to date 25th June 2026 (Date of last pay) for Jack Wilson to determine the amount of unused leave owing.

• PDF Report - Task 3 - Leave Balance Report - J.Wilson

(b) Process an unscheduled pay cycle for the following dates:

• Pay cycle: Unscheduled

• Pay period start: 15/06/2026

• Pay period end: 19/06/2026

• Date of payment: 25/06/2026

(c) Update the Pay slip message to read: Pay employee; Jack Wilson - Voluntary Cessation

(d) Enter the hours of leave accrued as per the Leave Balances report

(e) Ensure all allowances, deductions, leave accruals and Superannuation guarantee are handled appropriately

(f) Refer to Assessment 2 - Part A (Task 3) and use the marginal PAYG Withholding amount

Produce the Payroll Activity Report and Payroll Verification Report:

• PDF Report - Task 3 - Payroll Activity Report

• PDF Report - Task 3 - Payroll Verification Report

(g) Record the pay run

(h) Email the payslip

• PDF Report - Task 3 - Termination J.Wilson

(g) Pay Employee via Electronic Payments (Transaction Date of 25th June 2026)

• Bank File - Task 3 - Electronic Payment File - JWilson

(h) Enter the termination date into MYOB Employee card

Task 4

Conduct a bank reconciliation in MYOB Business.

(a) Import the bank statement using the file BS - Office Furnishings - June 2026.QIF

(b) Enter any other transactions as required

(c) Complete the reconciliation as at 30/06/2026 — Closing Balance: $36,883.86

(d) Export PDF

• PDF Report - Task 4 - Bank Reconciliation

Task 5

Reconcile payroll for June 2026.

Run and export:

• PDF Report - Task 5 - Payroll Summary

• PDF Report - Task 5 - Profit and Loss

• PDF Report - Task 5 - Balance Sheet

Use the Excel file FNSTPB412 - Assessment 2 - Part C - Reconciliation Report, worksheet Task 5.

Task 6

PAYG Withholding is paid quarterly.

(a) Run GST Return

• PDF Report - Task 6 - GST Return

(b) Insert figures into Task 6 worksheet in the Excel file

(c) Write an email to your manager seeking approval

(d) Use Spend Money to make a payment to ATO on 3rd July 2026

Task 7

Quarterly payment of deductions withheld.

(a) PDF the Accrual by fund (detail) report (1st–30th June 2026)

• PDF Report - Task 7 - Superannuation Accruals

(b) Enter Spend Money transactions (3rd July 2026):

• Superannuation

• Donations to Cancer Council

Run Balance Sheet:

• PDF Report - Task 7 - Balance Sheet

Task 8

End of financial year bank reconciliation.

Use file: BS - Office Furnishings - End of Financial Year 2026.QIF

• Closing Balance: $34,371.51

• Statement Date: 31/07/2026

Export:

• PDF Report - Task 8 - Bank Reconciliation

Task 9

Produce Payment Summaries (STP).

Export:

• PDF Report - Task 9 - YTD verification report

Insert figures in Excel workbook under Task 9 and reconcile Year End STP.

Task 10

(a) Check all Part C report files
(b) Ensure correct naming
(c) Create ZIP folder following VU naming conventions
(d) Upload to VU Collaborate

Summary of Assessment Requirements

The assessment focuses on end-to-end payroll processing, termination handling, bank reconciliations, compliance reporting, and year-end financial procedures using MYOB Business. Students must follow Office Furnishings Pty Ltd’s payroll procedures, process two weekly pay runs, handle an employee termination, reconcile bank statements, prepare payroll reports, lodge STP, produce BAS/GST reports, make electronic payments, and complete end-of-year tasks. They must generate, save, and name all required PDF reports and bank files, and submit them following institutional naming conventions.

Key Pointers to Be Covered in the Assessment

• Processing weekly payrolls for multiple employees (Task 1 & 2)

• Verifying system-generated payroll against manual calculations

• Producing and exporting Payroll Activity and Verification Reports

• Recording pay runs and lodging STP

• Emailing and saving individual payslips

• Creating and downloading electronic payment bank files

• Processing employee termination including unused leave payouts (Task 3)

• Running Leave Balance reports and adjusting payslip messages

• Performing bank reconciliations using imported QIF files (Task 4 & Task 8)

• Reconciling payroll using summary, P&L, and balance sheet reports (Task 5)

• GST Return reporting and PAYG withholding payments (Task 6)

• Processing superannuation and other deductions payments (Task 7)

• Producing STP payment summaries and reconciling year-end STP figures (Task 9)

• Packaging and submitting files correctly as per naming conventions (Task 10)

How the Academic Mentor Guided the Student: Step-by-Step Process

The academic mentor approached the assessment as a structured, competency-based exercise. Each task was broken down into manageable steps, ensuring the student understood both the technical functions in MYOB and the underlying accounting principles needed for accurate processing and compliance.

Step 1: Understanding the Payroll Environment and Data Setup

The mentor first ensured the student reviewed:

• Employee details

• Timesheets from Assessment 2 Part A

• Company payroll procedures

This set the foundation for accurate weekly payroll processing.

Learning Objectives Covered:

• Understanding payroll cycles

• Applying company payroll policies

• Interpreting timesheet data

Step 2: Processing the 1st Weekly Pay Run (Task 1)

The mentor guided the student through:

a. Creating the Pay Run

The student entered the pay cycle, pay period dates, and payment date exactly as specified.
Mentor emphasized accuracy in date entry to avoid STP and reconciliation errors.

b. Verifying MYOB Calculations

The mentor showed how to compare MYOB’s auto-calculated wages with manual calculations from prior assessments. Any discrepancies required checking employee cards, hours, pay rates, or leave settings.

c. Producing Reports

Using MYOB’s “Preview pay run activity” and “Preview pay details,” the student exported Payroll Activity and Verification Reports as PDFs.

d. Recording the Pay Run and Lodging STP

The mentor explained how STP lodgement ensures ATO compliance.

e. Emailing Payslips

The student saved each employee payslip as PDF, ensuring:

• Correct names

• Pay period

• Breakdown of earnings, leave, tax, super

f. Creating Electronic Payments

The mentor instructed how to select all employees, use correct bank accounts, set dates, and download the bank file.

Learning Objectives Covered:

• Payroll processing competency

• Report generation and documentation

• STP compliance

• Electronic banking procedures

Step 3: Processing the 2nd Weekly Pay Run (Task 2)

The mentor guided a similar workflow, reinforcing repetition for mastery.
The student:

• Created the second weekly pay run

• Generated reports

• Recorded pays

• Saved payslips

• Downloaded the electronic payment file

Learning Objectives Covered:

• Reinforcement of payroll processes

• Multiperiod payroll accuracy

• Strengthening MYOB navigation skills

Step 4: Processing Employee Termination (Task 3)

This was one of the more advanced tasks.

a. Running Leave Balance Report

The student generated Jack Wilson’s leave balances between 1 June and 25 June 2026.

b. Creating an Unscheduled Pay Run

Mentor explained why unscheduled cycles are used for terminations.

c. Updating Payslip Message

Student learned how to customise employee notifications (e.g., “Voluntary Cessation”).

d–f. Entering Accrued Leave, Adjustments, PAYG, Loading

The mentor reinforced key payroll rules:

• Unused annual leave payout

• Annual leave loading

• Correct allowances/deductions

• Using marginal tax rates

g–h. Recording Pay Run and Emailing Payslip

Student produced, saved, and checked termination reports and bank files.

i. Updating Employee Card

Mentor taught how to finalise an employee record properly.

Learning Objectives Covered:

• Termination payroll rules

• Leave payout calculations

• Advanced MYOB configurations

• Compliance with Fair Work and ATO requirements

Step 5: Bank Reconciliation (Task 4 & Task 8)

The mentor guided the student through:

• Importing QIF bank statements

• Matching bank transactions to ledger entries

• Adding missing transactions

• Finalising reconciliations for two separate periods

• Exporting reconciliation reports

Learning Objectives Covered:

• Bank reconciliation techniques

• Identifying discrepancies

• Understanding real-world cash book vs bank statement differences

Step 6: Payroll Reconciliation for the Month (Task 5)

The student generated:

• Payroll Summary

• Profit & Loss

• Balance Sheet

Using the provided Excel worksheet, the mentor helped the student reconcile:

• Employee totals

• Superannuation

• PAYG

• Gross wages

• Liabilities vs. expense accounts

Learning Objectives Covered:

• End-of-month financial review

• Reconciliation reporting

• Understanding payroll impact on financial statements

Step 7: GST, PAYG, and ATO Payments (Task 6 & 7)

Mentor instructed how to:

• Run the GST Return report

• Extract correct PAYG figures

• Write professional emails requesting manager approval

• Make payments using Spend Money

• Process superannuation and donation payments

Learning Objectives Covered:

• GST reporting

• PAYG withholding payment cycles

• Professional communication

• Expense allocation and compliance

Step 8: Year-End STP and Payment Summaries (Task 9)

The mentor guided the student to:

• Produce YTD verification report

• Reconcile employee totals

• Enter data in the Excel workbook

• Ensure STP year-end data matched organisational records

Learning Objectives Covered:

• STP year-end compliance

• Accuracy verification

• Reconciliation of annual payroll obligations

Step 9: Packaging and Submitting Work (Task 10)

The mentor reminded the student to:

• Check all files for naming accuracy

• Ensure all reports were exported and included

• Create a ZIP file per institutional standards

• Upload correctly

Learning Objectives Covered:

• Professional documentation

• Organisational file management

• Assessment submission compliance

Final Outcome and Learning Achievements

By following this structured mentoring approach, the student successfully:

• Processed payroll over multiple pay cycles

• Conducted termination payroll including leave payouts

• Completed MYOB bank reconciliations

• Produced all compliance reports (GST, STP, PAYG, Super)

• Generated financial reports and reconciliations

• Applied organisational procedures and accounting standards

• Demonstrated competency across payroll, banking, reporting, and compliance tasks

• Gained confidence in MYOB Business as a real-world accounting tool

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