Diploma of Payroll Services - FNS50417
Victoria University (VU)
Type of institution: University/Higher Education Institution
Level: Pre-degree
CRICOS: 00124K
This qualification reflects the job 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/Regulatory InformationWork functions in the occupational areas where this qualification may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or 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. If registration is granted, the TPB may also impose a condition on registration. Persons seeking BAS agent registration should check current registration requirements with the TPB, as registration requirements are reviewed regularly.
Subjects
- Facilitate continuous improvement
- Provide financial and business performance information
- Manage risk
- Administer subsidiary accounts and ledgers
- Manage human resource services
- Process financial transactions and extract interim reports
- Perform financial calculations
- Process business tax requirements
- Build client relationships and business networks
- Manage remuneration and employee benefits
- Determine client requirements and expectations
- Process salary packaging arrangements and additional allowances in payroll
- Manage budgets and financial plans
- Interpret and apply knowledge of taxation systems relevant to payroll
- Process complex employee terminations in payroll
- Identify situations requiring complex ethical decision making
- Apply ethical frameworks and principles to make and act upon decisions
- Manage separation or termination
- Process superannuation payments in payroll
- Address customer needs
- Develop and use emotional intelligence
- Develop and use complex spreadsheets
- Implement continuous improvement
- Complete business activity and instalment activity statements
- Interpret and apply knowledge of industrial regulations relevant to payroll
- Manage payroll
- Set up and operate a computerised accounting system
- Prepare financial reports
- Apply principles of professional practice to work in the financial services industry
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