Diploma of Payroll Services - FNS50422
Monarch Institute
Type of institution: Registered Training Organisation
Level: Pre-degree
CRICOS:
This qualification reflects the roles of workers who perform payroll administration and payroll management tasks in a variety of industries. It includes establishing payroll systems and using them to perform sometimes complex tasks, including preparing salary packaging arrangements and additional allowances, processing superannuation payments, and processing employee terminations. Individuals in these roles apply solutions to a range of often complex problems, and analyse and evaluate information from a variety of sources, including relevant legislation and taxation systems. They apply initiative to plan, coordinate and evaluate their own work and provide guidance to others within defined guidelines.Licensing, legislative, regulatory or certification considerationsWork functions in the occupational areas where this qualification may be used are subject to regulatory requirements. Refer to the relevant regulator for specific guidance on requirements.Persons providing a business activity statement (BAS) service for a fee or other reward must be registered by the Tax Practitioners Board (TPB) and this qualification is currently cited as meeting the TPB education requirements for registration as a BAS agent. Other requirements apply, including a designated period of experience. Persons seeking BAS agent registration should check current registration requirements with the TPB, as registration requirements are reviewed regularly.
Subjects
- Process salary packaging arrangements and additional allowances in payroll
- Interpret and apply knowledge of taxation systems relevant to payroll
- Implement customer service strategies
- Design and produce complex spreadsheets
- Perform financial calculations
- Process superannuation payments in payroll
- Implement continuous improvement
- Determine client financial requirements and expectations
- Manage business risk
- Set up and operate computerised accounting systems
- Complete business activity and instalment activity statements
- Process business tax requirements
- Establish and maintain payroll systems
- Coordinate remuneration and employee benefits
- Apply ethical frameworks and principles to make and act upon decisions
- Conduct work according to professional practices in the financial services industry
- Process complex employee terminations in payroll
- Develop and use emotional intelligence
- Provide financial and business performance information
- Process financial transactions and extract interim reports
- Coordinate separation and termination processes
- Coordinate human resource functions and processes
- Manage payroll
- Administer subsidiary accounts and ledgers
- Build and maintain business relationships
- Interpret and apply knowledge of industrial regulations relevant to payroll
- Prepare financial reports
- Manage budgets and financial plans
- Identify and apply complex ethical decision making to workplace situations
- Facilitate continuous improvement
- Use digital technologies to collaborate in a work environment
Study information
| Campus | Fees | Entry | Mid year intake | Attendance |
|---|---|---|---|---|
| Level 22, 535 Bourke Street, Melbourne | Domestic: $2,900 | No |
|
