All Articles / Accounting and Bookkeeping
All Articles / Accounting and Bookkeeping

Should I study the Diploma of Payroll Services?

Study the Diploma of Payroll Services today at Monarch Institute

It’s not always easy deciding if you should resume studies, or how it will assist you within your current role. The Diploma of Payroll Services can help you within your business and professional development.

Q: Why has this diploma been introduced?

The Diploma of Payroll Services has been introduced as it was acknowledged in the PwC review of financial services training packages that there was a shortcoming in the availability of training for contract bookkeepers in the complex area of Australian industrial law and related HR matters.

Q: How will the diploma help bookkeepers? 

The Diploma of Payroll Services will provide contract bookkeepers with the additional skills and knowledge to provide HR intermediary services with more confidence and certainty. This qualification also provides bookkeepers providing payroll-related services with a certified point of difference from their competitors. The course aims to provide contract bookkeepers with additional skills and knowledge to provide services as an HR intermediary supporting employers.

The Tax Practitioners Board says that the Diploma of Payroll services would be considered an excellent Continuing Professional Development (CPD) opportunity for practicing BAS agents.

Q: Is there anything bookkeeping professionals should be aware of?

Bookkeeping professionals are faced with a great opportunity as we see the roll-out of the long-anticipated Single Touch Payroll (STP) reporting regime. Currently, large employers with more than 20 employees are required to adhere to the STP reporting regime with legislation currently before parliament that will potentially see this legislation extending to employers with less than 20 employees on 1 July 2019. It’s likely that employers will be seeking support from bookkeepers providing payroll services for assistance to upgrade their software and comply with the laws. So really, it’s a course I think can be of great benefit for those already in the industry, that want to step up and offer a difference in their business.

Enrol today

Drop us a line on 1300 738 955 for more information on the Diploma of Payroll Services at Monarch Institute

Any questions? Ask away!