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Diploma of Payroll Services FNS50417

Study Method
Online
Provider
Monarch Institute
Recognition
Nationally Recognised Training
Start Date
Enrol anytime
Monarch Institute Courses
  • Government funding is available for eligible candidates in Victoria only.

Course Overview

The Diploma of Payroll Services (FNS50417) is a brand new diploma-level qual under the government’s Financial Services Training Package. It’s the ultimate qualification for current (and future) payroll professionals who are serious about their careers.

The Diploma of Payroll Services has been developed in consultation with 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. It’s the ideal course for current (and future) payroll professionals. It’s also great for independent practitioners who are looking for a way to formalise their expertise in payroll services.

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Job Outcomes

Potential career outcomes could include:

  • 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?
Get the Course Guide

Recognition

Nationally Recognised Training
This is a nationally approved vocational course that is recognised throughout Australia

Study Method

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

Duration and 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, Skype, Zoom, TeamViewer, or email (Monday to Friday, 9am to 5.30pm). 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
Get the Course Guide

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 FNS50417 Diploma of Accounting 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

Three major modules comprising a total of 4 sub-modules

Core Modules
Module 1Accounting and Payroll Fundamentals
  • 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 2Implementing Payroll, Activity Statements and Computing
  • 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 3Payroll: The Details
  • 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
And more!
Want more information about the subjects for this course?
Get the Course Guide

Payment Options

There are two methods of payment:

  • Upfront Payment
  • Payment Plans

Note: If you live in Victoria, Monarch has government-funded places. To see if you are eligible for a government-funded place, get in touch with one of our friendly course consultants by filling out an enquiry form.

Find out more about the payment options for this course
Get the Course Guide

About Monarch Institute

Monarch Institute is one of Australia’s largest family-owned professional services training organisations. 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.

Monarch Institute Pty Ltd is a Registered Training Organisation (RTO code: 22530)

Job Outcomes

Potential career outcomes could include:

  • 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?
Get the Course Guide

Recognition

Nationally Recognised Training
This is a nationally approved vocational course that is recognised throughout Australia

Study Method

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

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  • Pricing and payment options
  • Start dates
  • Subjects
  • Study Method
  • How to get help and contact information
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