Student Name Student Number Unit Code/s & Name/s FNSTPB401 Complete Business Activity & Instalment Activity Statements
Student Name Student Number Unit Code/s & Name/s FNSTPB401 Complete Business Activity & Instalment Activity Statements
FNSTPB402 Establish and Maintain Payroll Systems
Cluster Name If applicable BAS Payroll Cluster
Assessment Type Assignment Project Case Study Portfolio Third Party Report (Workplace) Third Party Report (Peer) Other
Assessment Name AT2 Practical Assessment Assessment Task No. 2 of 3
Assessment Due Date Date Submitted / /
Assessor Feedback:
Attempt 1 Satisfactory Unsatisfactory Date / /
Assessor Name Assessor Signature Student provided with feedback and reassessment arrangements (check box when completed) Date scheduled for reassessment / /
Attempt 2 Satisfactory Unsatisfactory Date / /
Assessor Name Assessor Signature Note to Assessor: Please record below any reasonable adjustment that has occurred during this assessment e.g. written assessment given orally.
Assessment Criteria / Benchmarks
The evidence submitted demonstrates that the student has satisfactorily: Attempt 1 Attempt 2
Date
__/__/__ Date
__/__/__
Y N Y N
Payroll Setup including
linked accounts,
employees and
payroll categories Check and correct and authorise timesheets Process timesheets using Process Payroll Print Payslips Generate accurate Payroll Summary Report Generate accurate Payroll Register Detail Report Generate accurate Employees Employment Details Report Accurately process receipts and payments Prepare Bank Reconciliation Generate Accurate GST Detail Accrual Report General accurate Profit and Loss Accrual Statement Generate accurate Balance Sheet Backup MYOB File Reconcile Wages with financial Statements Calculate figures to be included on BAS Reconcile BAS figures with financial Statements Explain the purpose of lodging the Payment Summary Annual Report. Task 2 Theory
Provide correct and complete answers to the theory questions in accordance with the Benchmark answers supplied: Explained who is required to authorised the lodgement of the BAS? Explained the total amount that needs to be paid to the ATO on the BAS? Explained the due date for lodgement and payment of the BAS? Explained the penalties if the BAS is lodged late? Explained two different types of payment methods available to pay the BAS? Explained if Bean There Coffee Van have enough money in the bank account to pay the BAS? Explained what can the business owner at Bean There Coffee Van do if they cannot pay the full amount of the BAS when it is due? Explained if the Bookkeeper can give advice about salary sacrifice. Outlined the procedure for collection and processing and authorisation of employee timesheets. Explained who is authorised to approve timesheets for payment and clarification of discrepancies Explained who payroll reports should be submitted to for verification and approval. Explained the timeframe in which payroll enquiries must be responded to. Identified where and how employee timesheets are to be stored to meet organisational security procedures. Advised correct response to Hals wife Identified correct legislation Explained procedure to update hourly rate Calculated LCT and advised reason for difference Advised how to amend bookkeeping entries
Student Name Student Number Unit Code/s & Name/s FNSTPB401 Complete Business Activity & Instalment Activity Statements
FNSTPB402 Establish and Maintain Payroll Systems
Cluster Name If applicable BAS Payroll Cluster
Assessment Name AT2 Practical Assessment Assessment Task No. 2 of 3
Assessment Due Date Date submitted / /
Assessor Name Student Declaration: I declare that this assessment is my own work. Any ideas and comments made by other people have been acknowledged as references. I understand that if this statement is found to be false, it will be regarded as misconduct and will be subject to disciplinary action as outlined in the TAFE Queensland Student Rules. I understand that by emailing or submitting this assessment electronically, I agree to this Declaration in lieu of a written signature.
Student Signature Date / /
Instructions to Student General Instructions:
This assessment is made up of 2 Tasks (Task 1, 11 Steps and Task 2, Theory questions). You must be successful in all areas to be successful in the assessment.
The assessment is unsupervised and open book.
Complete all questions within each task.
Submit your assessment once you have completed all tasks.
Instructions for what is required in each task are contained within the task.
Information / Materials provided:
Assessment Task
Templates within the tasks
MYOB file for Bean There Coffee Van
Business Activity Statements (BAS)
Learning Resources
MYOB AccountRight Version 2022.2 software
Information / Materials to be provided by the student:
Computer and word processing software
Internet access and ability to access and navigate Connect
Work, Health and Safety:
follow TAFE Queensland Student Rules
access TAFE Queensland Student Services for any additional support
conduct risk assessments prior to any assessment task to ensure the safety of all participants and the environment
ensure an ergonomically safe work environment to complete all assessment tasks
Assessment Criteria:
To achieve a satisfactory result, your assessor will be looking for your ability to demonstrate the following key skills/tasks/knowledge to an acceptable industry standard:
research, critically evaluate and apply any changes to current or new legislative or professional conduct requirements relevant to the preparation of activity statements
identify financial transactions required to prepare activity statements and apply goods and services tax (GST) principles and classifications
prepare both business activity statements (BAS) and instalment activity statements (IAS) for a range of legal entities that comply with:
Australian taxation law, Australian Taxation Office (ATO) rulings, Tax Practitioner Board (TPB) requirements and any lodgement schedules
accounting principles and practices
organisational policy and procedures
present activity statements for verification and approval.
Number of Attempts:
You will receive up to two (2) attempts at this assessment task. Should your 1st attempt be unsatisfactory (U), your teacher will provide feedback and discuss the relevant sections / questions with you and will arrange a due date for the submission of your 2nd attempt. If your 2nd submission is unsatisfactory (U), or you fail to submit a 2nd attempt, you will receive an overall unsatisfactory result for this assessment task. Only one re-assessment attempt may be granted for each assessment task. For more information, refer to the Student Rules.
Submission details(if relevant) Insert your details on page 1 and sign the Student Declaration. Include this form with your submission.
Due Dates: Refer to Unit Study Guide
Documents to be submitted:
This Task Sheet document, including completed reconciliations and answers to theory questions.
GST (Detail Accrual) for June 2023 saved as PDF
Payslips for fortnights ending 14/6/23 and 28/6/23 saved as PDF
Payroll Summary Report for June 2023 saved as PDF
Payroll Register Detail Report for June 2023 saved as PDF
Print the Employees Employment Details Report saved as PDF
Bank reconciliation report as at 30/06/23 saved as PDF
Profit & Loss (Accrual) for June 2023 saved as PDF
Balance Sheet as at 30 June 2023 saved as PDF
Business Activity Statement from MYOB saved as PDF
Payment Summaries for year ended 30 June 2023 for 3 employees saved as PDF
Payment Summaries Verification report saved as PDF
Payment Summary Annual Report (EMPDUPE)
Backup your file and with the file name firstname.lastname_FNSTPBCLUSTER (for example: jane.smith_FNSTPBCLUSTER). Submit a copy of this file with your completed assessment.
Assessment to be submitted via:
TAFE Queensland Learning Management System: Connect url: https://connect.tafeqld.edu.au/d2l/login
TAFE Queensland Learning Management System: Connect url: https://connect.tafeqld.edu.au/d2l/loginUsername; 9 digit student number
For Password: Reset password go to: https://passwordreset.tafeqld.edu.au/default.aspx>
Instructions to Assessor Students are to:
Satisfactorily complete all tasks
Provide their own computers/devices, software and internet facilities to produce the assessment task.
professionally present their responses in the assessment task
completed all tasks in their own time and space, no time restrictions applied
refer to notes and resources and seek clarification on tasks and questions
Assessors are to:
ensure the safety of all assessment activities by conducting and supporting risk assessments and ensuring all follow TAFE Queensland Student Rules
provide feedback on all assessment attempts and identify additional learning and/or practice required by the student before their second attempt.
use the Benchmark Answers and Marking Criteria to record their assessment and feedback.
negotiate to complete assessment tasks and/or resubmissions verbally, where the opportunity presents:
scribe the students response verbatim on the assessment task/marking criteria, and note the questions verbally addressed as reasonable adjustment on the coversheet.
initial and date additional comments
Note to Student An overview of all Assessment Tasks relevant to this unit is located in the Unit Study Guide.
NOTE: 2023 tax rates and thresholds are to be used throughout this assessment unless otherwise specified.
Introduction
Bean There Coffee Van is a mobile food business that provides coffee and snack foods to customers each day at morning tea, lunch and afternoon tea time. The registration details are below.
Registration details Details
Registered for GST? Yes
Registered for Pay-As-You-Go Withholding? Yes
Report on a cash or accrual basis? Accrual
Reporting frequency? Monthly
The business was purchased by the owner, Jane, on 1 June 2023. There are 3 employees:
The manager: Joan Bosswell who attends to the day to day management of the business.
Hal Peters, a full time employee
Jenny Baker, a casual employee who assists when it is busy.
The owner Jane is the authorised signatory for all documentation and must approve any payments made by the business.
In this assessment you are asked to process cash receipts and cash payments for June 2023 and process two fortnightly pay runs for June 2023.
An initial file has been set-up for you to download to begin the assessment. Follow the steps and information below to ensure the file is set-up correctly for GST and Payroll purposes.
**There are STUDENT CHECKPOINTS in this assignment. These must be ticked as completed before moving onto the next step. (See the Unit Study Guide for suggested timing of Checkpoint completion)
Step 1
Access the MYOB file for Bean There Coffee Van which has been provided.
Note: This exercise is to be done in MYOB AccountRight Plus Version 2022.2 as supplied within the Learning Resources. Do not use a different version of MYOB.
Download a copy of this file to your MYOB library and open the file. The username is Administrator and there is no password.
Step 2
Check your chart of accounts and edit where necessary to ensure that you have the following accounts with the correct GST codes:
Note: Asset and Liability accounts have been set up for you.
STUDENT CHECKPOINT 1:
Student has shown the teacher the chart of accounts and has confirmed that they are set up correctly.
To do this via email, go to Reports -> Accounts tab -> Accounts List [Summary].
Click on the Insert/Modify tab, then choose Show Hide
(instructions continued next page)
Click Tax Code, then Show
Click OK to confirm. Click back on the Print Preview tab.
You can save your report as a PDF by
Clicking the blue button up the top left
Choosing Export -> PDF
Step 3 Payroll Setup:
Go to: Setup > General Payroll Information and check that,
The Current Payroll Year Ends June 2023
Tax Table Revision Date is 13/10/20
The standard working week for employees is 37.5 hours.
The default Superannuation fund is My Super. No rounding is required as payments are being made electronically.
Go to: Setup > Linked Accounts > Payroll Accounts
Payroll transactions should be recorded to the following accounts (tick the box when checked):
Account for Cash Payments Payroll Clearing Account
Account for Cheque Payments Business Bank Account
Account for Electronic Payments Electronic Clearing Account
Account for Employer Expenses Other Payroll Expenses
Account for Wages paid Wages & Salaries Expense
Account for Deductions & Expenses PAYG Withholding Payable
Set up the Payroll Categories: *Hint - Go to the Payroll Command Centre.
Set up these additional allowances under the Wages category:
Uniform Allowance setup as a Salary allowance under Type
Select Override Employees Wage Expense Account
Select Account 6-4400 Uniform Allowance
ATO Reporting category Allowance Other
Motor Vehicle Allowance setup as a Fixed Hourly Rate of ATO Rate
ATO Reporting category Allowance Car
Select Override Employees Wage Expense Account
Select Account 6-4300 Motor Vehicle Allowance
The employees are paid the Motor Vehicle Allowance Rate as per the 2023 Australian Taxation Office (ATO) rate so it is not taxable. i.e. PAYG Withholding Exempt
Assume the Uniform allowance is taxable because it is over the threshold amount.
Update Superannuation Guarantee exemptions if relevant for either of the above allowances and ATO Reporting category.
*Hint - Go to: Payroll Categories > Superannuation > Superannuation Guarantee > Exempt
Set up a new deduction under the Deductions category for Health Insurance with Linked Payable Account Health Insurance Payable.
Set up new entitlements for Salaried Employees
Entitlement Name: Annual Leave - Salary.
Calculation Basis Equals 150 Hours per Pay Year.
Linked Wages Category Annual Leave Pay
Entitlement Name: Personal Leave Salary.
Calculation Basis Equals 75 Hours per Pay Year.
Linked Wages Category Personal Leave Pay
Ensure the calculation basis for the existing entitlements Annual Leave and Personal Leave will not accrue Leave on overtime hours or motor vehicle allowance by selecting the appropriate exemptions.
Ensure all Payroll Categories have been linked to the correct ATO Reporting Category
Enter the following bank account details in your Business Bank account
*Hint - Go to: Accounts > Accounts List > click the blue arrow next to 1-1110 Business Bank Account > click the Banking tab.
Set up the Employees:
Set up the employee details for the following 3 employees.
Last Name: Boswell
First Name: Joan
Card ID: (M1)
Address: 21 Sunny Street
City: Nudgee
State: QLD
Postcode: 4014
Last Name: Peters
First Name: Hal
Card ID: (A2)
Address: 46 Redhill Road
City: Doomben
State: QLD
Postcode: 4011
Last Name: Baker
First Name: Jenny
Card ID: (C1)
Address: 6 Heavenly Ave
City: Manly West
State: QLD
Postcode: 4051
You also need to enter the details listed in the attached APPENDIX B - Employee Details.
Print to PDF: Employee details report
STUDENT CHECKPOINT 2:
Student has shown the teacher the Employee Employment Details report (in the Payroll section of Reports) and has confirmed that they are set up correctly.
Step 4 Checking and Completing timesheets
You have been given the timesheets for Hal Peters and Jenny Baker. Joan Boswell is paid a salary so she does not have to submit a timesheet.
You are required to:
1. Review each timesheet to confirm that the daily hours recorded on the timesheet are correct. You also have to check that the timesheets have been prepared in accordance to Organisational Policies and Procedures.
Identify any errors in the hours worked and make the necessary corrections on the timesheet.
For the purpose of this task assume the start and finish times recorded are correct.
2.Record the fortnightly totals for normal hours, overtime and travel kilometres for each employee on the timesheet.
(The first two have been completed for you.)
3. In order to ensure you are following organisational procedures for security and confidentiality:
(Mark each box when you have completed the task.)
a) Check that employees have signed their timesheets as required b) Once you have completed your checks and added in the relevant totals you can then authorise each timesheet by signing and dating it where required 4.Submit the completed and authorised timesheets for marking.
5.Process timesheets for both fortnights using Process Payroll in MYOB.
6.Print Payslips and save as PDF.
7.Print Payroll Summary Report for June 2023 and save as PDF
8.Print Payroll Register Detail Report for June 2023 and save as PDF
STUDENT CHECKPOINT 3:
Student has shown the teacher the Payslips and confirmed they are correct.
Student has shown the teacher the Payroll Summary report and confirmed it is correct.
Student has shown the teacher the Payroll Register [Detail] report and confirmed it is correct.
BEAN THERE COFFEE VAN
FORTNIGHTLY TIMESHEETS
Employee: Hal Peters Fortnight ending 14/6/23 Saturday Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sunday Monday Tuesday Wednesday Thursday Friday Total
1/06/2023 2/06/2023 3/06/2023 4/06/2023 5/06/2023 6/06/2023 7/06/2023 8/06/2023 9/06/2023 10/06/2023 11/06/2023 12/06/2023 13/06/2023 14/06/2023
Start Time 10am 8.30am 8.30am 8.30am 8.30am 8.30am 10am 8.30am 8.30am 8.30am 8.30am 8.30am
Finish Time 12pm 5pm 5pm 6.30pm 8.30pm 5pm 1pm 5pm 5pm 7.30pm 8.30pm 5pm
Ordinary Hours 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 75
Overtime 1.5x 1 3 2 3 9
Overtime 2x 2 3 5
Travel for work (Kms)
Employee Signature: Hal Peters Authorised by: Date: 14/06/2023 Date: Employee: Jenny Baker Fortnight ending 14/6/23 Saturday Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sunday Monday Tuesday Wednesday Thursday Friday Total
1/06/2023 2/06/2023 3/06/2023 4/06/2023 5/06/2023 6/06/2023 7/06/2023 8/06/2023 9/06/2023 10/06/2023 11/06/2023 12/06/2023 13/06/2023 14/06/2023
Start Time 12.30pm 8.30am 4.30pm 10.30am 9.30am 10.00am 10.30am
Finish Time 2.30pm 12.30pm 8.30pm 2.30pm 2pm 2.00pm 2.30pm
Ordinary Hours 2 4 3 4 4 4.5 4 4 4 26 26.5
Overtime 1.5x
Overtime 2x
Travel for work (Kms) 5km 5km 5km 17km 32
Employee Signature: J Baker Authorised by: Date: 14/06/2023 Date:
Employee: Hal Peters Fortnight ending 28/6/23 Saturday Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sunday Monday Tuesday Wednesday Thursday Friday Total
15/06/2023 16/06/2023 17/06/2023 18/06/2023 19/06/2023 20/06/2023 21/06/2023 22/06/2023 23/06/2023 24/06/2023 25/06/2023 26/06/2023 27/06/2023 28/06/2023
Start Time Annual Annual Annual Annual Annual Annual Annual Annual Annual Annual
Finish Time Leave Leave Leave Leave Leave Leave Leave Leave Leave Leave
Ordinary Hours 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5 7.5
Overtime 1.5x
Overtime 2x
Travel for work (Kms)
Employee Signature: Hal Peters Authorised by: Date: 28/06/2023 Date:
Employee: Jenny Baker Fortnight ending 28/6/23 Saturday Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sunday Monday Tuesday Wednesday Thursday Friday Total
15/06/2023 16/06/2023 17/06/2023 18/06/2023 19/06/2023 20/06/2023 21/06/2023 22/06/2023 23/06/2023 24/06/2023 25/06/2023 26/06/2023 27/06/2023 28/06/2023
Start Time 9.30am 9.3am 9.3am 9.3am 9.3am 9.30am 9.30am 10.30am 9.30am 9.30am
Finish Time 2.30pm 2.30pm 2.30pm 2.30pm 2.30pm 12.30pm 2.30pm 2.30pm 2.30pm 2.30pm
Ordinary Hours 5 5 4 5 5 3 5 4 5 5
Overtime 1.5x
Overtime 2x
Travel for work (Kms) 5km 5km 5km 21km 5km 5km 5km 5km 10km
Employee Signature: J Baker Authorised by: Date: 28/06/2023 Date: Step 5 Enter the following transactions into MYOB:
Receipt from Jane on 01.06.23 Jane deposited $10,000.00 from her personal funds into the business bank account. Record this transaction in MYOB using Receive Money.
Other receipts are all in cash and a cash register total is printed on Friday each week. Cash on hand is reconciled to this then banked. Record the following receipts for June 2023 in MYOB using Receive Money.
Bean There Coffee Van Bean There Coffee Van
3/06/2023 10/06/2023
Sales Coffee 1255.50 Sales Coffee 1189.50
Sales Softdrinks 62.35 Sales Softdrinks 756.95
Sales Fruit 322.20 Sales Fruit 52.50
Sales Snacks 831.10 Sales Snacks 381.80
Total (includes GST $195.36 $ 2471.15 Total (includes GST $211.66) $ 2380.75
Bean There Coffee Van Bean There Coffee Van
17/06/2023 24/06/2023
Sales Coffee 1240.70 Sales Coffee 1520.40
Sales Softdrinks 318.45 Sales Softdrinks 510.25
Sales Fruit 70.50 Sales Fruit 81.60
Sales Snacks 410.55 Sales Snacks 946.50
Total (includes GST $179.06) $ 2040.20 Total (includes GST $270.65) $ 3058.75
Bean There Coffee Van
30/06/2023
Sales Coffee 1006.20
Sales Softdrinks 296.30
Sales Fruit 45.00
Sales Snacks 690.40
Total (includes GST $181.17) $ 2037.90
Payments are usually made by cheque. Record the following cheques for June in MYOB using Spend Money:
Date Cheque no. Amount Details
01.06.23 1 500.00 Purchases Stock from previous owner (Coffee $150.00, Softdrinks $120.00, Milk $50.00 and Snacks $180.00) Previous owner not registered for GST.
03.06.23 2 318.00 Purchases coffee beans
06.06.23 3 200.70 Purchases Softdrinks $122.50 (including GST), Plain milk $78.20
13.06.23 4 232.00 Purchases Plain milk
13.06.23 5 189.65 Purchases snack foods
15.06.23 6 89.95 Telephone account
17.06.23 7 435.00 Purchases coffee beans
20.06.23 8 240.00 Concept Advertising (No ABN on invoice)
20.06.23 9 150.00 Budget Bookkeeping (Not registered for GST)
30.06.23 10 340.95 Purchases snack foods $84.45, Plain milk $256.50
30.06.23 11 200.00 Drawings Jane
30.06.23 12 720.00 Qld Transport Van Registration (including $340.40 for Registration, $370.60 for CTP Insurance $9.00 Stamp Duty
30.06.23 13 348.75 Purchases Softdrinks
Step 6
Reconcile the bank account using the bank statement on the following page.
Print a Bank Reconciliation Report as at 30 June 2023 and save as a PDF.
STUDENT CHECKPOINT 4:
Student has shown the teacher the Reconciliation report and confirmed correct.
STUDENT CHECKPOINT 5:
Print the GST Detail [Accrual] report. Student shown the teacher the GST Detail report and confirmed correct.
Your Bank Ltd Account Number 00123456
Bank Statement for June 2023
Opening Balance Withdrawals Deposits Balance MYOB
01.06.23 Opening Balance Nil 01.06.23 Deposit cash from Jane 10000.00 10000.00 Cr 03.06.23 Cheque 1 500.00 9500.00 Cr 03.06.23 Deposit cash sales 2471.15 12371.15 Cr 08.06.23 Cheque 2 318.00 11653.15 Cr 10.06.23 Deposit cash sales 2380.75 14033.90 Cr 14.06.23 Cheque 4 232.00 13801.90 Cr 14.06.23 Wages Electronic Payment 4591.76 9210.14 Cr 15.06.23 Cheque 5 189.65 9020.49 Cr 17.06.23 Deposit cash sales 2040.20 11060.69 Cr 17.06.23 Cheque 7 435.00 10625.69 Cr 17.06.23 Cheque 6 89.95 10535.74 Cr 24.06.23 Deposit cash sales 3058.75 13594.49 Cr 24.06.23 Cheque 9 150.00 13444.49 Cr 26.06.23 Direct debit - Business Bank Ltd - coffee van lease 748.00 12696.49 Cr 29.06.23 Wages Electronic Payment 4815.94 7880.55 Cr 30.06.23 Cheque 11 200.00 7680.55 Cr 30.06.23 Cheque 12 720.00 6960.55 Cr 30.06.23 Bank fee 25.00 6935.55 Cr 30.06.23 Merchant fees 35.20 6900.35 Cr 30.06.23 Closing balance 6900.35 Cr
Step 7
Prepare Payment Summaries (in MYOB) for year ended 30 June 2023 for 3 employees
Save as PDF
Print the Payment Summaries Verification by clicking View Verification Report
Save the Payment Summary Annual Report (EMPDUPE)
Make a Backup: Backup your file and with the file name firstname.lastname_FNSTPBCLUSTER (for example: jane.smith_FNSTPBCLUSTER). Submit a copy of this file with your completed assessment.
Explain the purpose of lodging the Payment Summary Annual Report (electronic EMPDUPE file) and copies of the Payment Summaries with the Australian Taxation Office.
Step 8
Prepare the Business Activity Statement using MYOB.
Print the Business Activity Statement and save as PDF.
Print GST Detail (Accrual) Report for June 2023 and save as PDF
Print Profit & Loss (Accrual) for June 2023 and save as PDF
Print Balance Sheet as at 30 June 2023 and save as PDF
Step 9
Reconcile wages records with financial statements by completing the following table:
Total from Payroll Summary Report Wages from Profit & Loss Statement PAYG Payable from Balance Sheet BAS Label
Gross wages * * W1
PAYG withholding ** ** W2
**
* These two figures should match** These three figures should match
Step 10
Reconcile the completed BAS with financial statements by completing the following tables:
Sales from GST (Detail Accrual): Purchase Value from GST (Detail Accrual) GST Free ABN GST FRE Less Tax collected in sales GNR Equals Net sales* GST Total Income from Profit & Loss Statement* Add tax withheld no ABN * These two figures should match
Less Tax Paid in purchases Add Total Payroll expenses (from Profit and Loss report) ** These two figures should match **Net Purchases **Purchases from Profit and Loss statement (Cost of Sales plus Total Expenses) Liabilities outstanding on Balance Sheet: BAS Labels
GST Collected 1A Less GST Paid 1B PAYG Withholding payable 4 ABN Withholdings payable
Total $ 9 $
Step 11
Theory questions Bean There Coffee Van Business Activity Statement
Who is required to authorise the lodgement of the BAS?
What is the total amount that needs to be paid to the Australian Taxation office on the BAS?
When is the due date for lodgement and payment of the Bean There Coffee Van BAS?
What are the penalties if the BAS is not lodged by the due date?
(Hint: see https://www.ato.gov.au/general/interest-and-penalties/penalties/failure-to-lodge-on-time-penalty/)
What are two different types of payment methods available to pay the BAS?
Look at the Bank Statement for Business Bank Account. Does the Closing Balance show that there is enough money in the bank account to pay the BAS?
What can the business owner at Bean There Coffee Van do if they cannot pay the full amount of the BAS when it is due?
(Hint:https://www.ato.gov.au/General/Paying-the-ATO/Help-with-paying/#Onlineandautomatedpaymentplans)
Task 2
Please answer the following questions which relate to Bean There Coffee Van and its Organisational Policies & Procedures.
You are the bookkeeper for Bean There Coffee Van. An employee, Hal Peters, asks you for some advice about salary sacrifice. What would you say to Hal Peters?
.
a) Refer to the Policy and Procedures for Bean There Coffee Van. What is the procedure for collection and processing and authorisation of employee timesheets?
.
b) Who is authorised to approve timesheets for payment and clarify discrepancies?
According to Organisational Policies and Procedures, who should payroll reports be submitted to for verification and approval?
What is the timeframe in which payroll enquiries must be responded to?
Identify where and how employee timesheets are to be stored to meet organisational security procedures
According to Organisational Policies and Procedures, what should an employee do if they identify a payroll discrepancy?
Hal Peters wife telephones you to ask how his net holiday pay was calculated.
a) What would you say to Hals wife?
b) What is the legislation that applies to this situation?
Jenny Baker has received a pay increase. Her new hourly rate is $25 per hour. List the steps you would follow to update Jennys payroll details in MYOB.
Jane, the owner, has asked you to provide advice on the following transaction. She is considering importing a luxury vehicle with a customs value of $80,000, before GST. There will be additional importation costs of $5000, including GST. The vehicle will be 100% business use. She is unsure whether this purchase will occur in the 2021 financial year or the beginning of the 2022 financial year.
Research working out LCT on an import (https://www.ato.gov.au/Business/Luxury-car-tax/Working-out-the-LCT-amount/Working-out-the-LCT-on-an-import/). Calculate the LCT payable for both years and advise why this may be different in the 2021 and 2022 financial year.
If Jane advises you that the motor vehicle is actually 80% business use, how would you amend bookkeeping entries to reflect this?
Assessment Submission:
Follow organisational procedures to develop and submit your documents, including:
Use of technology and word processing software
Professional presentation spelling, grammar, formatting
Clear, industry relevant language and terminology
Naming convention and version control
Storing, security and uploading/submitting
To be submitted:
This Task Sheet document, including completed reconciliations and answers to theory questions.
Combine the following reports and submit as one, single, PDF document:
GST (Detail Accrual) for June 2023 saved as PDF
Payslips for fortnights ending 14/6/23 and 28/6/23 saved as PDF
Payroll Summary Report for June 2023 saved as PDF
Payroll Register Detail Report for June 2023 saved as PDF
Print the Employees Employment Details Report saved as PDF
Bank reconciliation report as at 30/06/23 saved as PDF
Profit & Loss (Accrual) for June 2023 saved as PDF
Balance Sheet as at 30 June 2023 saved as PDF
Business Activity Statement from MYOB saved as PDF
Payment Summaries for year ended 30 June 2023 for 3 employees saved as PDF
Payment Summaries Verification report saved as PDF
Payment Summary Annual Report (EMPDUPE)
Backup your file and with the file name firstname.lastname_FNSTPBCLUSTER (for example: jane.smith_FNSTPBCLUSTER). Submit a copy of this file with your completed assessment.
End of assessment.
Appendix A
Bean There Coffee Van
A.B.N. 65 400 121 794
304809144000
POLICIES AND PROCEDURES MANUAL
2413033401000
97714430 / www.shutterstock.com / shutterstock.com
Bean There Coffee Van
Extract from POLICIES AND PROCEDURES
Personnel
Normal hours
Standard working hours for a fulltime employee are 37.5 hours per week. Full time employees work between 8.30am and 5.00pm with a one hour unpaid lunch break.
Casual employees work up to 30 hours per week on any day between 8am and 9.00pm.
Overtime
Overtime will be paid to full time staff who works more than 37.5 hours in any week. A 30 minute unpaid meal break must be taken before commencing overtime hours on a weekday. Overtime on weekdays is paid the rate of time and a half for the first three hours then double time for any additional hours after that. Overtime at double time will be paid for all hours worked by full time employees on weekends.
Casual employees do not receive overtime rates.
Salaried employees do not receive overtime rates.
Annual Leave
Full time employees are entitled to 4 weeks paid annual leave per year. Annual Leave Loading is also paid to all employees who are entitled to Annual Leave at the rate of 17.5% of Annual Leave payable.
Casuals are not entitled to annual leave or Annual Leave Loading.
Any annual leave outstanding at the end of the year carries over to the following year.
An Application for Annual Leave is to be completed by employees prior to taking Annual Leave. This is to be submitted for approval at least 2 days prior to the first day of leave. An employee may request to have leave paid in advance for absences or more than 5 days. The authorised delegate to approve leave is as follows:
For Shop Assistants and Delivery staff: The Manager (Joan Bosswell)
For the Manager: The Director (John Smith)
Personal Leave
Full time employees are entitled to 2 weeks sick leave per year.
Casual employees are not entitled to sick leave.
Any sick leave not taken at the end of June each year carries over to the following year.
An absence for Personal Leave should be notified to the Approving officer by email of telephone as soon as possible once the need arises.
An Application for Personal Leave is to be completed by employees on the day they return to work following leave. The authorised delegate to approve leave is as follows:
For Shop Assistants and Delivery staff: The Manager (Joan Boswell)
For the Manager: The Owner - Jane Smith
Uniform Allowance
All employees other than the manager are required to wear a uniform and are entitled to a uniform allowance. Full time employees receive $40 per fortnight uniform allowance while casual employees receive $20 per fortnight uniform allowance. Uniform allowance is to be paid to full time employees while they are on leave; however it is only paid to casual employees in weeks that they actually work. Tax to be withheld if required by the PAYG legislation.
Motor Vehicle Allowance
All employees who use their own vehicles for deliveries will be paid a motor vehicle allowance in accordance with the ATO rates. That is:
number of kilometres travelled x applicable rate per kilometre
Tax to be withheld if required by the PAYG legislation.
Superannuation Guarantee
All employees are entitled to Superannuation Guarantee at the prescribed rate.
Payment of wages
Payment is made electronically to all employees.
Timesheets
All employees not paid on a salary basis are required to complete a timesheet on the specified form. It should indicate start and finish times, normal hours worked and any overtime worked for each day the employee worked. The timesheet should also indicate any leave claimed including the type of leave and number of hours. If an employee is claiming Annual Leave in advance they should complete a timesheet in advance for the period they will be away and submit it on the last payday before payment is required. Timesheets are to be signed and dated on the last working day each week and submitted to be checked, totalled and authorised by the Manager (Joan Boswell).
Finishing time on a Friday can be estimated if after 12.00pm and an adjustment to pay made the following week if needed with the Managers approval.
Payroll processing
Payment of wages is made fortnightly, every second Friday by 4.00pm. The responsible officer is the Manager (Joan Boswell).
Timesheets must be submitted to the Manager by 12.00pm on Friday for pays to be processed.
Salaried employees are not required to submit a timesheet.
Relevant leave applications must also be submitted by 12.00pm on Friday to be taken into account in pay processing.
The payroll officer is required to process the payroll, submit a Payroll Register report to the owner for verification and approval, pay wages after approval and then print and distribute payslips, and prepare payroll reports.
Payroll reconciliations and discrepancies
Monthly and yearly reconciliations of the payroll records to be completed. The reconciliations are to be checked and signed by the Manager, Joan Boswell. If there are any discrepancies found during the reconciliation process these are to be referred to the Manager, Joan Boswell.
Payroll enquiries
Payroll enquiries, including discrepancies, should be reported to the payroll officer and should be responded to by the responsible officer within 72 hours and in accordance with relevant privacy legislation.
Payroll records
All payroll records are to be maintained in accordance with legislative requirements and confidentiality respected at all times.
Computer access to payroll records is to be limited to payroll staff and the Manager through the use of passwords which should be changed regularly.
Paper based records are to be stored in a locked filing cabinet in the Managers office and the key left with the manager. This includes:
Employment Contracts, Employment Declarations, Employee Details forms to be filed in each employees Permanent file
timesheets which are to be filed in a folder for each employee by date order immediately after processing
leave application forms to be filed in each employees Annual file
other employee documents to be filed in employees Annual files
Weekly, monthly and annual payroll report to be filed in the Bean There Coffee Payroll file
ATO Documentation and Lodgements
The owner Jane Smith is the authorised signatory for all documentation and must approve any payments made by the business.
APPENDIX B Schedule A Employee Details
Bean There Coffee Pty Ltd Employee Details Employee 1 Employee 2 Employee 3 Name Joan Boswell Hal Peters Jenny Baker Position Manager Shop assistant Delivery Driver DOB 25.06.75 04.11.92 12.12.96 Gender Female Male Female Start date 01.08.12 12.11.13 26.8.14 Employment basis Individual Individual Individual Category Permanent Permanent Permanent Status Full time Full time Casual Pay basis Salary Hourly Hourly Pay Frequency Fortnightly Fortnightly Fortnightly Salary/Wage rate $77,220 24.50 23.70 Wages categories Base salary Base hourly Base hourly Annual Leave Annual Leave Uniform allowance Annual Leave Loading Motor Vehicle Allowance
Personal Leave Personal Leave Overtime x 1.5 Overtime x 2 Uniform allowance
Bean There Coffee Pty Ltd Employee Details Employee 1 Employee 2 Employee 3
Name: Joan Boswell Hal Peters Jenny Baker
Payroll details tab: Superannuation Superannuation fund My Super My Super Super to Go
Employee member number 45587 8787 969231
Superannuation categories Superannuation guarantee Superannuation guarantee Superannuation guarantee
Payroll details tab: Entitlements Entitlements allowed Annual Leave - Salary Personal Leave - Salary Annual Leave Personal Leave Carry Over (hours) 152hrs Annual Leave
76hrs Personal Leave 152hrs Annual Leave
76hrs Personal Leave Payroll details tab: Deductions Deduction categories included Health insurance Health insurance Union fees Payroll details tab: Taxes Tax file number 555 777 999 111 444 999 222 333 444
Tax table Tax free threshold + HELP Tax free threshold No tax free threshold
Tax categories included PAYG Withholding PAYG Withholding PAYG Withholding
Total rebates per annum $1,560 Nil Nil
Extra tax per pay Nil $10 Nil
Bean There Coffee Pty Ltd Employee Details Employee 1 Employee 2 Employee 3
Joan Boswell Hal Peters Jenny Baker
Payroll details tab: Standard pay Uniform allowance Nil $40 $20
Health insurance -$52.60 -$36.90 Union fees Nil -$32.00 Nil
Payment Details tab: Distribute among 2 accounts 1 account 1 account
Bank statement text BEAN THERE COFFEE BEAN THERE COFFEE BEAN THERE COFFEE
Bank Account 1: BSB 456-098 852-369 471258
Account number 1234567 5823963 4588545
Account Name Joan Boswell Hal Peters Jenny Baker
Amount $200 Bank Account 2: BSB 654-987 Account number 8977898 Account Name J & S Boswell Amount Remainder
