Accounting and Bookkeeping

Diploma of Payroll Services

FNS50422

  • Duration: 12 months

  • Price: $3,250 upfront | $150 per week (payment plan)

  • How it works: Study online. With a difference.

  • Start date: Immediately, or whenever you’re ready.

  • Entry requirements: No formal prerequisites | RPL available | Some equipment needed

  • Qualification type: Diploma

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The Diploma of Payroll Services (FNS50422) is the ultimate qualification for current (and future) payroll professionals who are serious about their careers.

Enrol Now

The Diploma of Payroll Services (FNS50422) is the ultimate qualification for current (and future) payroll professionals who are serious about their careers.

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  • Award winning course

  • Free industry membership

  • Become a TPB BAS Agent

  • Nationally recognised

Course Summary

The Diploma of Payroll Services (FNS50422) is the ultimate qualification for current (and future) payroll professionals who are serious about their careers.

The course 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.

Keep up with payroll technology


Technology is constantly changing the way that payroll work is carried out. In your career as a payroll administrator or manager, you’ll spend less and less time on data entry and more time on challenging issues to do with tax and super admin. That’s why, even if you’re already working in a payroll services role, it’s more important than ever to get qualified. With Monarch Institute, you’ll also get the software training you need (online payroll software as well as Xero) to hit the ground running.


Alternative pathways


‘Payroll officer’ isn’t the only job title you could have after graduating from the Diploma of Payroll Services. Monarch Institute is an approved provider by the Tax Practitioners Board (TPB) for courses in GST/BAS taxation principles being part of the requirements to become a BAS Agent. The skills you’ll develop could help you stand out of the crowd as a:

  • 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


And don't forget that as a Monarch student you'll get FREE membership to both the Institute of Certified Bookkeepers and the Institute of Public Accountants. With loads of resources and networking opportunities, the world is your oyster.

We offer a study timetable to help you complete the course in 12 months if you have the motivation and available time.

However, we give all students up to two years (with 6 months per module) for a flexible, self-paced learning experience.

More than online.

You’ll get:

  • Easy-to-follow course materials

  • Videos and webinars

  • Heaps of support from your course trainers (phone, email, Zoom)

  • A dedicated support team on hand to guide you

  • Online assessments

  • Student Facebook group


How does it work?

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.


What support will I get?

Your trainer will be happy to contact you via phone, Zoom, 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.

Assessment formats include:

  • Multiple-choice questions

  • Short-answer questions

  • Workplace scenarios

  • Calculation questions

  • Role-plays -video self-recording and upload of the file

  • Accounting software exercises

  • TPB required assessments (see below)


Supervised Assessments

The Tax Practitioners Board (TPB) requires supervision arrangements for a portion of the assessments in the following units:

  • FNSTPB411 Complete business activity and instalment activity statements

  • FNSTPB412 Establish and maintain payroll systems

This supervision is provided by Monarch Institute as part of your course fee. We do not charge any additional supervision fees.

These 2 units contain 3 supervised assessments which include multiple choice questions and short answer or calculation questions. Each assessment is open book and you have up to 3 hours to complete each assessment.

Supervision for assessments can be booked as a scheduled Zoom session with Monarch invigilators once you commence your course. You will need a webcam on your device, as well as internet access.

IMPORTANT: Further requirements for becoming a registered BAS agent

Immediately, or whenever you’re ready.
Get in touch about enrolling

 

 

"Monarch Institute stands out as one of the best institutes for payroll education, offering a comprehensive and practical curriculum that equips students with the necessary skills and knowledge."

- Diploma of Payroll Services Graduate

 

 

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.

We may be able to take into account relevant knowledge and skills you’ve gained through previous formal or informal training, education and employment. To find out more, refer to our Student Information Handbook by clicking here, or get in touch with one of our friendly Course Consultants.

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

  • Working PC with Microsoft Office (2016 or later)

  • Access to the internet

  • Access to a smart phone, video camera or web camera is required


Note: Access to online payroll software as well as Xero software is provided as part of your course fee.

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Take the short quiz to see if this course is right for you.

 

 

 

Pathways

Because the Diploma of Payroll Services is a nationally recognised qualification, you may also be able to use it as a pathway to further study at university level. You could continue to study a breadth of areas including human resources, industrial relations, accounting and business. If you’re planning on doing this, it’s best to check with the uni of your choice as to whether they’ll offer you credit, before enrolling with Monarch Institute.

You can also see more of our accounting courses offered at Monarch Institute:


Part Courses:

Units

In total, you need to complete 11 nationally recognised units of competency to be awarded the FNS50422 Diploma of Payroll Services.

Module 1

 

  • BSBHRM527 Coordinate human resource functions and processes

  • BSBTWK401 Build and maintain business relationships

  • FNSINC411 Conduct work according to professional practices in the financial services industry


Module 2

 

  • FNSPAY514 Interpret and apply knowledge of industrial regulations relevant to payroll

  • FNSPAY515 Interpret and apply knowledge of taxation systems relevant to payroll


Module 3

 

  • BSBHRM526 Manage payroll

  • Cluster - FNSPAY511 Process salary packaging arrangements and additional allowances in payroll and FNSPAY512 Process superannuation payments in payroll


Module 4

 

  • FNSPAY513 Process complex employee terminations in payroll

  • FNSTPB412 Establish and maintain payroll systems
    (TBP code: MPA001 Payroll Administration)

  • FNSTPB411 Complete business activity and instalment activity statements
    (TBP code: MAS001 Activity Statements)

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Award winning course

Monarch was awarded ‘Training Provider of the Year’ at the Institute of Certified Bookkeepers (ICB) 2024 LUCA Awards.

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Free industry membership

Get free student membership into the Institute of Public Accountants (IPA) and the Institute of Certified Bookkeepers (ICB) when you enrol.

Membership gives you access to wide range of resources you can use to help kick off your career. Click here to learn more.

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Nationally recognised

The course is nationally recognised under the Australian Qualifications Framework. This means you may be able to use it as a pathway to further education qualifications.

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Become a TPB BAS Agent

The Diploma of Payroll Services meets the minimum education requirements of the TPB (Tax Practioners Board) to register as a BAS Agent.

Payroll Services courses. For the real world.

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Frequently Asked Questions

You could work as a payroll officer or manager in a company’s finance team or independently as a practitioner serving small businesses. Related roles you could pursue include:

  • Human resources officer

  • Industrial relations assistant adviser

  • Salary packaging adviser

  • Small business employment manager

  • Compliance officer

  • Assistant financial controller

This qualification also meets the Tax Practitioners Board’s minimum education requirements for BAS agent registration.

Payroll professionals who want to formalise their expertise will find this diploma a strong fit, as will people moving into payroll from another area of accounting or administration. We developed it in consultation with the industry, tailoring the content to accounting technicians working in payroll departments. Independent practitioners also study it to gain a recognised qualification for work they already do. You don’t need any formal qualifications to enrol.

Across 11 nationally recognised units, you’ll learn to:

  • Manage payroll and establish payroll systems

  • Process salary packaging arrangements and additional allowances

  • Process superannuation payments

  • Handle complex employee terminations

  • Complete business activity and instalment activity statements

  • Coordinate human resource functions and processes

You’ll also learn to maintain business relationships and work according to professional practices in financial services.

Yes, you’ll work through course materials entirely online, following our 12-month study timetable or taking up to two years at your own pace. Your trainer will answer your questions by phone, Zoom or email between 9am and 5.30pm, Monday to Friday. You’ll book your three supervised assessments as Zoom sessions with our invigilators once you commence.

You’ll study the industrial regulations that apply to payroll, covering awards, entitlements and the obligations employers owe their staff. You’ll also learn the taxation systems relevant to payroll, including PAYG withholding and superannuation guarantee requirements. Two of your units meet Tax Practitioners Board requirements, so you’ll complete supervised assessments in activity statements and payroll systems.

Yes. You’ll process complex employee terminations, which involve calculating final entitlements and applying the correct tax treatment to each component. You’ll also process salary packaging arrangements, additional allowances and superannuation payments. Our payroll software and Xero training, included in your course fee, give you a chance to apply each process in the systems payroll teams use.

A diploma covers considerably more ground than a short course. Our BAS and Payroll skill set teaches two units in around six months, giving you the payroll systems and activity statement skills the Tax Practitioners Board requires. The Diploma of Payroll Services covers 11 units and students have two years to complete them, adding industrial regulations, taxation systems, salary packaging, terminations and human resource functions.

Yes, payroll work draws on the same principles you’ll already know from working with accounts, and this qualification adds the industrial relations and taxation knowledge specific to paying employees. Study with us and you’ll receive free student membership of both the Institute of Public Accountants (IPA) and the Institute of Certified Bookkeepers (ICB). You can also apply the qualification towards further study in accounting, human resources or business at university.

Trainers

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Natasha Daraio

Accounting and Bookkeeping Trainer

Open
Natasha Daraio

Accounting and Bookkeeping Trainer

Fees

Upfront Payment
$3,250
Payment Plan
$150 / week
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