This activity will enable you to demonstrate the

This activity will enable you to demonstrate the following performance evidence:
 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.
Answer the activity in as much detail as possible, considering your organisational requirements.
1. Establish a payroll system and document the steps you took. This activity can be undertaken in
a workplace or simulated environment. This activity needs to be observed by the
trainer/assessor or third party.
a. Secure Australian Business number
b. Obtain TFN
c. Register for “Goods and services” GST and “PAYG” pay as you go
d. Collect the information needed to achieve this
e. Your employee’s tax file number (TFN)
f. The unique superannuation identifier (USI) of your employee’s super fund.
If your workers have a self-managed super fund (SMSF), they must provide the following information
to you:
 TFN of your employee
 The SMSF's ABN (Australian Business Number).
 Details of your employee's SMSF's bank account
 Your employee's SMSF's electronic service address.
2. Use data and calculations to reconcile salaries, wages, and deductions in accordance with all
legislative and organisational requirements. This activity can be undertaken in a workplace or
simulated environment. This activity needs to be observed by the trainer/assessor or third
party.
Data can include but not limited to:
 Tax to pay, a pension funds, insurance, healthcare, child support
 All information should be reconciled, verified and substantiated to ensure
information is accurate, complete and recorded in a timely way to be able to
quickly identify ant discrepancies
 There are many ways wages can be paid:
o If the employee pays wages by cash, the employer and employees
should sign a record to confirm the amount of money that has been
paid each pay period.
o Once employee pay has been recorded, the payments can be made
using the organisations’ choice of payment method.
 The employer may be required to print or email pay slips, or record payment of
each wages.
ACP-BSBFIM502V1.2021-LW 50

Australian College of the Professions
RTO No. 41201 CRICOS No. 03608K
 Other companies will require a written payment authorisation to say you can
debit the employee’s account.
3. Create accurate payroll management records. This activity should be assessed, and evidence
from the trainer/assessor or third party should be provided and documented in the
Observations and Demonstrations checklists.
Emplo
y ee
No
Employ
ee
Name
Hou
rl y
rate
Hours Total
1 Paula K. 18.00 40 720.0
0
2
Kimberly
L.
18.00 40 720.0
0
3 James D. 24.00 40 960.0
0
4
Rebecca
D. 28.00 40
1,120.0
0
5 Demi F. 36.00
20
720.0
0
6 Dylan P. 36.00 20 720.0
0
Empl
oy
ee
No
Employ
ee
Name
Hou
rl y
rate
April May June
Ove
r
tim
e
Tota
l
Hour
s
Total
amou
nt
1 Paula K. 18.00
160 160 160 0 480
8,640.0
0
2
Kimberly
L.
18.00 160 160 160 0 480 8,640.0
0
11,520.