Question

Answer the question as per Australian context.

Create a page procedure in a checklist for each point below that a bookeeper can use as part of his/her duties related to a payroll

1) End of quarter AIM: This procedure outlines the steps to take at the end of each financial quarter - for payroll

2) Complete payroll component of BAS AIM: This procedure describes the process of adding payroll information to the Business Activity Statement (BAS).

3) Backup AIM: This procedure describes the backup regime used by the organisation.

4) Complete payroll component of BAS - This procedure describes the process of adding payroll information to the Business Activity Statement (BAS).

Answer 1

Ans. 1. End of Quarter-

(a) The book-keeper shall process each and every employee's salary and should update the same in his books.

(b) The book-keeper should ensure that the person is paid only for the days worked by him an nothing more.

2. Complete payroll component of BAS-

(a) The amounts in the payroll is then transferred to the Business Activity Statement.

(b) This is helpful in ascertaining the net result of the company.

3. Backup-

(a) Periodic backup should be taken to avoid any mis-happening to cause any disruption in work.

(b) In case of any problem, these backups ensures smooth functioning.

4. Complete payroll component of BAS-

(a) The amounts in the payroll is then transferred to the Business Activity Statement.

(b) This is helpful in ascertaining the net result of the company.