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FNS50422

Diploma of Payroll Services

Study Method Online
Provider Monarch Institute
Start Date Enrol anytime
Monarch Institute

Course overview

The Diploma of Payroll Services (FNS50422) is the ultimate qualification for current (and future) payroll professionals who are serious about their careers. It’s also great for independent practitioners who are looking for a way to formalise their expertise in payroll services.
The Diploma of Payroll Services has been developed in consultation with the industry, tailored specifically to the needs of accounting technicians working in payroll departments.

In addition to technical skills, the qualification includes a variety of legal, customer service, and interpersonal skills units of competencies that’ll help round out your capabilities as a payroll professional.

Job outcomes

  • Human Resources (HR) officer
  • Industrial Relations assistant advisor
  • Salary Packaging advisor
  • Payroll Services officer
  • Small business employment manager
  • Bookkeeping assistant
  • Compliance officer
  • Assistant financial controller

Want to see more job outcomes and how your future could change?

Study method

  • Online Online info icon
    Online delivery - online course content with the exception of assessments and work placement
  • Blended Blended info icon
    Blended delivery - both online course content and partial face to face requirements
  • In-class In-class info icon
    In class delivery - predominately face to face course content conducted at a specific location
  • Virtual Virtual info icon
    Virtual Delivery - Live and interactive classroom-style learning conducted completely online

Duration study load

12 months self-paced.

Delivery

This course has been developed to give you absolute flexibility. Study on your couch, on public transport, on your break at work, out in the park – wherever and whenever you like. The best part is, with Monarch Institute, ‘online’ doesn’t mean ‘alone’. You’ll be backed by our trainers at every step along the way.

Your trainer will be happy to contact you via phone, Zoom, or email. So you definitely won’t feel alone. You’ll also have access to our student Facebook groups, so you can discuss the material with other students. It’s a handy way to stay in touch with trainers and others in the same course.

Entry requirements

There aren’t any formal entry requirements. But to make sure you get the most out of training with us, the following enrolment process applies:

  • Once we receive your enrolment, our friendly course consultants will touch base to undertake a pre-training review to ensure the training is right for you.
  • For students without an equal or higher level qualification, there’s a short language, literacy and numeracy quiz you complete online.

Find out more about the entry requirements for this course

Course features

  • Easy-to-follow course materials
  • Videos and webinars
  • Heaps of support from your course trainers (phone, email, Skype, Zoom)
  • A dedicated support team on hand to guide you
  • Online assessments
  • Student Facebook group

Recognition of prior learning

Monarch Institute recognises Recognition of Prior Learning (RPL) which takes into account the knowledge and skills you have already gained through your previous education and work history, attributing this to your FNS50422 Diploma of Payroll Services. These may be through formal or informal training and can result in credits towards your qualification. We also offer Credit Transfer (CT).

Assessment

The experts who design and deliver our courses have developed an assessment framework that’s uniquely designed to help you gain a deep understanding of the material. They’ll give you the kind of knowledge and skills you can use in the real world as a skilled payroll administrator. Assessment may include:

  • Multiple-choice questions
  • Short-answer questions
  • Workplace scenarios
  • Case studies

Materials

You will need access to the following equipment to successfully complete the course:

  • Working PC with Microsoft Office
  • Access to the internet

Subjects

Core Modules
Module 1 - Setting the foundation for your Payroll career
  • Administer payroll and personal records
  • Establish procedures for managing payroll
  • Prepare payroll data
  • Applying accrual accounting principles
  • Using source documents for transaction reporting
  • Applying GST rules to transactions
  • Using cash receipts journals and cash payments journals
  • Using purchases journals and sales journals
  • Completing  general journal entries
  • Handle bad debts written off
  • Apply debit and credit rules
  • Post journal entries to general ledger accounts
  • Prepare trial balances
  • Participate in and facilitate team work activities
  • Identify sustainability issues for the financial services industry
  • Adhere to legal compliance requirements
Module 2 - Legal fundamentals
  • Prepare business activity statements
  • Prepare instalment activity statements
  • Process manual payroll systems
  • Use an accounting software system such as MYOB or XERO to set up chart of accounts and change account details
  • Set up contact records
  • Create invoices and edit invoices
  • Create bills and enter the spending of funds
  • Perform bank reconciliations
  • Create manual journal entries
  • Backup and export data
  • Generate financial statements
Module 3 - Processing payroll
  • Analyse an organisation’s salary packaging and additional allowance arrangements
  • Process salary packaging arrangements in payroll systems
  • Calculate and verify superannuation payments
  • Gather employee information and verify organisational requirements relating to termination
  • Maintain compliance of payroll services with regulations
  • Evaluate the impact of taxation systems on payroll services
  • Ensure payroll services comply with taxation systems
  • Determine payroll tax to be applied
Module 4 - Managing complex payroll and activity statements

Want more information about the subjects for this course?

Payment options

  • Upfront and payment plans available

 

Find out more about the payment options for this course

About Monarch Institute

Monarch Institute is one of Australia’s leading providers of professional services training. We believe education should be an experience, not a transaction.

Our award-winning, innovative approach to course content and design means that you get relevant, accredited courses with loads of support from experienced trainers who give you the time to ensure you’ve got the skills that the industry needs. Study online today with Monarch and change the way you think about studying.

Study online with Monarch Institute and experience education, reimagined.

Want to know more about this course?
Complete the form and learn about:

  • Pricing and payment options
  • Start dates
  • Subjects
  • Study method
  • How to get help and contact information
  • Everything you need to know before enrolling!

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