Unit of competency details

BSBFIM502 - Manage payroll (Release 2)

Summary

Releases:
ReleaseStatusRelease date
2 (this release)Current 09/Apr/2015
(View details for release 1) Replaced25/Mar/2015

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBFIM502A - Manage payrollUpdated to meet Standards for Training Packages 24/Mar/2015


Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
SIT - Tourism, Travel and Hospitality Training PackageTourism, Travel and Hospitality Training Package 1.0-1.1 
SIS - Sport, Fitness and Recreation Training PackageSport, Fitness and Recreation Training Package 2.0-3.0 
FNS - Financial Services Training PackageFinancial Services Training Package 3.0 
BSB - Business Services Training PackageBusiness Services Training Package 1.1-2.0 

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  30/Jul/2015 
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Unit Of competency

Modification History

Release 

Comments 

Release 2

This version first released with BSB Business Services Training Package Version 1.1.

Version created to correct mapping table information

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Application

This unit describes the skills and knowledge required to establish and monitor security procedures for managing organisational payroll services and to calculate and process salary payments, group taxation and related payments.

It applies to individuals, employed in a range of work environments, who are required to establish and work with payroll systems and may have responsibility for managing payroll systems and calculations.

No licensing, legislative or certification requirements apply to this unit at the time of publication

Unit Sector

Finance – Financial Management

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 Establish procedures for management of payroll

1.1 Establish procedures that ensure the confidentiality and security of payroll information

1.2 Ensure procedures guarantee substantiation of claims for allowances

1.3 Establish control measures to safeguard organisation’s financial resources in accordance with legislative and organisational requirements

1.4 Establish systems to ensure statutory obligations are met and records are kept for the period determined by government legislation

2 Prepare payroll data

2.1 Use nominated industrial awards, contracts and government legislation to calculate gross pay and annual salaries

2.2 Calculate statutory and voluntary deductions using government and employee documentation

2.3 Provide payroll data to payroll processor for calculation within designated timelines

3 Authorise payment of salaries

3.1 Check payroll, and authorise salaries and wages for payment in accordance with organisational policy and procedures

3.2 Reconcile salaries, wages and deductions in accordance with organisational policy and procedures

3.3 Deal with salary, wage and related enquiries in accordance with organisational policy and procedures

4 Administer salary records

4.1 Process declaration forms for new and existing employees in accordance with Australian Taxation Office requirements

4.2 Forward periodic deductions to nominated creditors within designated timelines

4.3 Prepare and dispatch payments to government authorities accurately and in accordance with relevant government legislation

4.4 Calculate and transcribe group tax amounts and make payments in accordance with taxation procedures

4.5 Prepare and reconcile employee group certificate amounts from salary records

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

Skill 

Performance 

Criteria 

Description 

Reading

1.1-1.4, 2.1, 2.2, 3.1-3.3, 4.1-4.5

  • Identifies and interprets information from organisational policies, legislative and industry-related material

Writing

1.1, 1.3, 1.4, 2.3, 3.1, 3.3, 4.1, 4.3-4.5

  • Records data accurately using relevant format, style and language suited to context and audience
  • Prepares specific information which clearly conveys an understanding of outcomes and uses terminology appropriate to present to relevant personnel

Oral Communication

2.3, 3.3

  • Articulates information concisely using appropriate terminology, tone and style
  • Uses questioning and listening techniques to exchange and clarify information

Numeracy

2.1-2.3, 3.1- 3.3, 4.2-4.5

  • Uses a wide range of mathematical calculations to analyse and compare numeric information
  • Makes calculations to ensure work is completed according to predetermined deadlines

Navigate the world of work

1.3, 1.4, 2.1-2.3, 3.1-3.3, 4.1, 4.3, 4.4

  • Monitors adherence to legal and regulatory responsibilities and organisational policies and procedures

Interact with others

2.3, 3.3

  • Recognises and applies the protocols governing what to communicate with who, and how, in a range of work contexts

Get the work done

1.1, 1.3, 1.4, 2.3, 3.3, 4.1-4.5

  • Uses logical processes in planning, implementing and evaluating routine and non-routine tasks in achieving goals and timelines
  • Uses analytical skills to identify discrepancies and attempts to resolve the issues within the context of own responsibilities
  • Makes a range of critical and non-critical decisions in relatively complex situations, taking a range of factors into account
  • Understands the importance of secure information and privacy in relation to own work and takes responsibility for identifying and managing risk factors

Unit Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBFIM502 Manage payroll

BSBFIM502A Manage payroll

Updated to meet Standards for Training Packages

Equivalent unit

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

Modification History

Release 

Comments 

Release 2

This version first released with BSB Business Services Training Package Version 1.1.

Version created to correct mapping table information

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

  • document steps undertaken to establish payroll system
  • use data and calculations to reconcile salaries, wages and deductions in accordance with all legislative and organisational requirements
  • create accurate payroll management records.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • explain key provisions of relevant legislation, standards, regulations and codes of practice that may affect aspects of payroll operations
  • outline organisational policies and procedures across the full range of tasks for the required payroll processes.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial management field of work and include access to:

  • office equipment and resources
  • workplace policies and procedures
  • samples of financial data
  • business technology
  • payroll system
  • case studies and, where available, real situations.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

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