BSBFIM502 Task 2

Assessment Task 2 BSBFIM502 Manage payroll Prepare payroll data and authorise payment Submission details Student's name Student no. Assessor's name Assessment site Assessment date/s The assessment task is due on the date as told to you by your assessor. Any changes to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence/proofs attached. See specifications/details below for details. Performance objective For this task, you will demonstrate the ability to establish procedures for the preparation of payroll data (salary and wages information) and authorisation (by management to pay) of salaries. Assessment description In response to the scenario provided, you will calculate pay within designated timelines (by specific dates), check, reconcile/settle, check and authorise payroll, and manage enquiries in accordance with organisational policy and procedures (i.e the way the company handles these tasks). Procedure Consider the scenario and tasks provided. Part A: Calculate pay and provide pay data 1. Calculate pay on worksheet provided. © 2015 Innovation and Business Industry Skills Council Ltd | Modified 23Aug16 1 st edition version: 2 Page 1 of 26

Assessment Task 2 BSBFIM502 Manage payroll 2. On the pay calculation worksheet, schedule submission of payroll data to the designated person (i.e who is responsible) Part B: Reconcile payroll register and authorise payment 1. In accordance with organisational policies and procedures, check the payroll register for discrepancies/differences and reconcile/settle pay against employee records and timesheets. 2. Correct discrepancies on the payroll register and authorise payment. Part C: Handle payroll enquiry 1. Consider the employee enquiry. 2. Arrange to meet with the employee (your assessor) to manage the enquiry in accordance with organisational policy and procedures. 3. Meet with the employee (your assessor) to manage the enquiry. Ensure you: a. explain payroll information using appropriate interpersonal skills 1 b. ask questions and listen carefully to determine/decide and resolve/sort out the employee enquiry. 4. Submit all documents required in the specifications below to your assessor. Ensure you keep a copy of all work submitted for your records. Specifications You must: ● submit payroll calculations ● submit authorised payroll register ● meet with your assessor to handle the enquiry. Your assessor will be looking for: ● communication skills to answer enquiries, and to explain and resolve discrepancies with employees ● literacy skills to follow procedures ● numeracy skills to: ○ calculate gross/untaxed and net pay (after tax) 1 Interpersonal skills - Interpersonal skills are the skills used by a person to interact with others properly. In the business domain, the term generally refers to an employee's ability to get along with others while getting the job done. © 2015 Innovation and Business Industry Skills Council Ltd | Modified 23Aug16 1 st edition version: 2 Page 2 of 26

Assessment Task 2 BSBFIM502 Manage payroll ○ compare differing/differences rates of pay over a given time span/period of the same nature/type ○ reconcile/settle figures and rectify/fix anomalies/any differences to ensure accuracy. ● knowledge of key provisions (important requirements) of relevant legislation (government rules) from all forms of government, standards, regulations/rules and codes that may affect aspects of business operations, such as: ○ Australian Taxation Office regulations ○ anti-discrimination legislation ○ ethical principles ○ codes of practice ○ financial legislation ○ privacy laws ○ relevant industrial awards ○ other relevant government and statutory bodies in relation to payroll ○ knowledge of the Superannuation Guarantee (Administration) Act 1992 and superannuation regulations ● knowledge of organisational policies and procedures across the full range of tasks required payroll processes. © 2015 Innovation and Business Industry Skills Council Ltd | Modified 23Aug16 1 st edition version: 2 Page 3 of 26