Security Procedures, Tax Invoice, And Payroll Management System

Security Procedures and Control Measures

Payroll management policies: 

Management of payroll is an important part of overall management of an organization. A standard payroll management system must have the following attributes to ensure efficient management of payroll system (Laudon & Laudon, 2016).

The security is of utmost importance in the payroll management system. The information in the payroll system should be secured and confidential. The system must not be allowed to be used by anyone except the payroll manager. Strong authorization procedure should be inbuilt in the system to ensure that except eligible person no one is allowed access in the system. Physical security of files is equally important hence, all necessary precautions shall be taken such as having a separate physical location for the computers in which the files are stored (Nicholas & Steyn, 2017).

1. The claims shall be substantiated from records.
2. Necessary documents such as employee registrar and pays slips shall be verified.

• Cross checking with the relevant departments before finalizing the claims of allowances (Laudon & Laudon, 2016).

1. Identifying the appropriate legislations that shall govern the wages and salaries payments.
2. Ensure that the provisions applicable to the organization are complied with in making payments to the employees and workers.

• Recording all information correctly in the payroll system (Balazs, Liu-Barker, Foiles, Thomas & Lee, 2016).

1. The payroll manager must check the payroll with appropriate documents before making payments.
2. All necessary deductions must be made from gross salaries and wages before making payment to the employees and workers.

• Authorization from respective department heads shall be obtained before making payment to employees and workers (Feinsmith, 2015).

The process of reconciliation of salaries, wages and deduction shall be carried out by following the procedures mentioned below:

1. Gross salaries and wages calculated shall be reconciled with the appropriate pay rates of the workers and employees.
2. Taxes deducted from gross salaries must be in accordance with the provisions of the Income Tax Assessment Act 1997.

• Adjustment for bonus and rewards along with absence from work must be checked properly (Debroux, 2017).   

1. Employees’ enquiries must be dealt with specifically by the payroll managers.
2. Payroll managers must resolve all the queries of employees and workers.  

• All deductions shall be shown to the employees and workers to ensure they understand the deductions properly (Nielsen, Chambers & Farr, 2014).

Employees   Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper	Gross pay
John Ryan	1,042.00
Janice Wright	871.00
Robert Jones	625.00
Mary Jacobs	617.00
Rebecca Wong	120.00

Calculation:  

Days	Monday	Tuesday	Wednesday	Thursday	Friday	Saturday	Sunday	Gross pay
John Ryan			8.00	11.00	8.00	8.00	6.00	1,041.91
			181.20	249.15	181.20	226.48	203.88
Janice Wright	8.00	8.00	8.00		8.00	6.00		870.58
	176.32	176.32	176.32		176.32	165.30
Robert Jones	8.00	8.00				8.00	3.00	624.77
	166.32	166.32				207.92	84.21
Mary Jacobs			8.00	8.00		5.00	5.50	616.98
			166.32	166.32		129.95	154.39
Rebecca Wong				6.50		4.00
				67.54		51.96		119.50

Template:

As can be seen that firstly, the employees have been classified under full time and casual categories as the payment to the employees vary depending on their status of employment. It is clear that John Ryan and Janice Wright are only full time employees of the fast food restaurant whereas other three employees, namely Robert Jones, Mary Jacobs, and Rebecca Wong are casual employees (Shoham, Bank, Cobbe, Matta, Rubin, Weiner & Toft, 2015). In fact Rebecca Wong is under 17 worker for the restaurant and accordingly, her wage rate is different from the other employees. The hourly wage rates are different for day evening and night shift (Lim, 2016). The hourly rate of wages also varies during week days and weekends. Taking into consideration all these the calculation of gross pay has been made. The total number of hours worked by these employees on different days have been determined as cab ne seen in the above template as well as brief calculation table provided above (Angeles, 2015). Accordingly, appropriate rate of wages has been ascertained based on the day when the employees have worked. Multiplication of appropriate hourly wage rates with the number of hours worked during a particular day has helped in calculating the gross wage of that particular day (Goetsch & Davis, 2014). By following this method the total weekly gross pay has been calculated for the fulltime and casual employees. It is also important to mention that the level of employees are different as some belongs to level 1 whereas some belongs to level 3. Since the wage rate varies on the basis of the level of an employee hence it was important to determine the appropriate level of all employees accordingly, the level of all employees have been determined to use appropriate hourly wage rate pot calculate gross pay of the works and employees of fast food restaurant (Vos & Slavin, 2015).     

Employees	Gross pay  ($)	Applicable tax  ($)
John Ryan	1,042.00	197.00
Janice Wright	871.00	138.00
Robert Jones	625.00	64.00
Mary Jacobs	617.00	62.00
Rebecca Wong	120.00

Employee pay slip:

ABC Fast Foods Pty Ltd pay advice slip
Employers ABN: 12 345 678 910
Employee no: 2	Date of payment: 16/07/2018	Pay period ending: 15/07/2018
Employee’s name:             Janice Wright
Employment status:          FT Supervisor C2
Wages, allowances and overtime	Hours	Rate	Amount
Wages	Standard hours	32	22.04	705.28
Wages	Overtime rate Sat	6	27.55	165.3
Wages	Overtime rate 2
Allowance 1	Laundry
Allowance 2
Public Holidays
Gross pay	871
PAYG tax	138.00
Net pay	733.00
Superannuation guarantee levy

TFN	100 489 128
Name	Ms Jennifer Brown
DOB:	05-06-88
Address	10 James St, Burleigh Q 4220
Status of the employee	Casual

Details	Amount ($)
Gross weekly pay	871.00
Number of weeks (Assuming 44 weeks)	44
Gross annual pay	38,324.00
Tax withheld	6,072.00
Net pay	32,252.00

Particulars	Amount ($)	Amount ($)
GST collected	15,000.00
GST paid	9,500.00
GST payable		5,500.00

Particulars	Amount ($)	Amount ($)
Tax withheld from staffs	6,500.00
Less: PAYG income tax instalment	2,300.00
Liability for tax withheld		4,200.00

 

References:

Angeles, P. (2015). U.S. Patent No. 9,058,416. Washington, DC: U.S. Patent and Trademark Office.

Balazs, A. G., Liu-Barker, X. C., Foiles, D. L., Thomas, M. P. I., & Lee, R. E. (2016). U.S. Patent No. 9,444,824. Washington, DC: U.S. Patent and Trademark Office.

Debroux, P. (2017). Human Resource Management in Japan: Changes and Uncertainties-A New Human Resource Management System Fitting to the Global Economy: Changes and Uncertainties-A New Human Resource Management System Fitting to the Global Economy. Routledge.

Feinsmith, J. B. (2015). U.S. Patent No. 9,002,900. Washington, DC: U.S. Patent and Trademark Office.

Goetsch, D. L., & Davis, S. B. (2014). Quality management for organizational excellence. Upper Saddle River, NJ: pearson.

Laudon, K. C., & Laudon, J. P. (2016). Management information system. Pearson Education India.

Laudon, K. C., & Laudon, J. P. (2016). Management information system. Pearson Education India.

Lim, K. (2016). U.S. Patent No. 9,407,662. Washington, DC: U.S. Patent and Trademark Office.

Nicholas, J. M., & Steyn, H. (2017). Project management for engineering, business and technology. Routledge.

Nielsen, S., Chambers, C., & Farr, J. (2014). U.S. Patent No. 8,626,571. Washington, DC: U.S. Patent and Trademark Office.

Shoham, Y., Bank, J. E., Cobbe, K., Matta, A., Rubin, M., Weiner, Z. I., & Toft, K. T. (2015). U.S. Patent Application No. 14/076,046.

Vos, M., & Slavin, J. (2015). U.S. Patent No. 9,037,536. Washington, DC: U.S. Patent and Trademark Office.