Bookkeepers R Us Pty Ltd Extract from POLICIES and PROCEDURES Manual 1 Company Details Bookkeepers R Us Pty Ltd, trading was incorporated on 1st January 2013 as a business that provides bookkeeping services to small businesses, both in Australia and overseas. John Muir is the Director of Bookkeeping Makes Cents owning 100% of the shares. 2 GST and BAS reporting The business has an ABN and is registered for GST reporting GST quarterly on a CASH BASIS and reports PAYROLL monthly. Superannuateon monthly payments are made by 28th of the following month. Deductions are paid quarterly - by the 28th of the following month. A 3.75% PAYG Instalment is paid quarterly. Income Tax returns are prepared on an Accrual Basis. A Fringe Benefits Tax [$1,500] is paid quarterly on the use of the company car for private use by the director. A BAS Clearing A/c is used by Bookkeepers R Us. At the end of each month the business assesses the amount of Tax Liabilities and records in their Cash Flow Analysis. Management ensure there are sufficient funds. The paper copy of the Business Activity and Instalment Activity Statement is lodged. 3 Fixed Assets John Muir will be responsible for the purchase of assets. [Motor Vehicle Registration and Compulsory Third Party Insurance are recorded as expenses. ] A file is kept for each asset purchased. This file should include the Tax Invoice, warranties, loan arrangements and any other documentation regarding the purchase. When sold, sale documentation should be added to the file. The business is not taking advantage of Small Business Income Tax concessions depreciation rules. 4 Errors and Discrepancies It is essential that the books of the business are accurate and correct. Any discrepancies should be reviewed by John Muir. A file should be kept to document all changes in the MYOB data file. Where necessary, entries should not be deleted ea, dishonoured cheque. The entry in MYOB should be reversed and re-entered if necessary. If an incorrect Tax Code has been used in a previous BAS, a journal entry is recorded to correct this error.5 End of month Reconciliation A Bank Account Reconciliation Bank reconciliations are performed in MYOB at least once a month on the last day of the month to reconcile the accounting records against the bank statement. A number of transactions will appear on the Bank Statement which will have to be entered in the MYOB data file. B Accounts Receivable Reconciliation At the end of the month, a Receivables Reconciliation report is printed and checked for accuracy. C Accounts Payable Reconciliation At the end of the month, a Payables Reconciliation report is printed and checked for accuracy. D GST Reconciliation The business accounts for GST on a Cash Basis. The following reports should be printed at the time of preparing the Business Activity Statement: Sales Summary with Tax, Purchases Summary with Tax. The GST Collected balance in the Balance Sheet less the GST in the Sales Summary with Tax report should equal the amount of GST Collected to be reported on the BAS. The GST Paid balance in the Balance Sheet less the GST in the Purchases Summary with Tax report should equal the amount of GST Paid to be reported on the BAS. An adjustment will be made if required to report the correct amount owing. PAYROLL 6 Record keeping Requirements Bookkeepers R Us Pty Ltd keeps the following payroll information in accordance with the ATO guidelines in "Business records you need to keep". the worker's name, address and contact numbers; copy of tax file number declaration; the date the worker commenced work with the employer; details of emergency contact and any medical conditions the business should be aware of whether the worker undertakes part-time or full-time work and whether they are engaged as a permanent, temporary or casual worker; if a penalty rate or loading must be paid for overtime hours actually worked, the number of overtime hours worked or the start and finish times of those hours; if the worker is a casual or irregular part-time worker who is guaranteed a basic periodic rate of pay, the hours worked by that worker; the worker's rate of pay; the gross and net amounts paid and details of any deductions; hours worked by employees [does not apply to salaried employees];any allowances or loadings paid; leave accrued, leave taken and the balance of the leave from time to time; superannuateon fund name [on Super Choice form] and contribution details; the termination of a worker's employment, including the name of the person who terminated the employment; how the termination took place (was the employment terminated by consent, by notice, summarily or in some other manner?) and date of termination; PAYG payment summaries; and a signed copy of the enterprise agreement.BOOKKEEPERS R Us PTY LTD ENTERPRISE AGREEMENT 2017-2020 1. Title Bookkeepers R Us Pty Ltd Enterprise Agreement 2017-20. 2. Scope and Parties Bound The Enterprise Agreement is a workplace agreement between the "Employer" Bookkeeper R Us Pty Ltd, ABN. 82 463 291 004, 45 Charter Street, Your Town and their staff members for whom the Agreement's classification levels apply. 3. Commencement Date of Agreement and Period of Operation This Agreement commences on and from the 1 February 2017. The nominal expiry date of this Agreement is 1 October 2020. 4. Place of Work This Agreement will apply to employees who are employed by the Company at its premises located at 45 Charter Street or at any other premises to which the Company may relocate during the term of the Agreement. From time to time employees may be required to work at places and locations apart from the Company's registered premises. 5. Remuneration The rates of pay for employees shall be as per Appendix A attached. Casual employees shall be paid an hourly rate which will be a minimum of 1/38" prescribed in Appendix A attached plus an additional 25% loading of the rate. The wages payable to an employee shall be payable weekly and shall be payable by electronic funds transfer into an account nominated by the employee. 6. Hours of Work The Manager is paid a salary and works Monday to Friday. He does not receive overtime rates for work performed Monday to Friday in excess of 38 hours. If the Manager conducts training sessions on a Saturday an additional payment will be made as per Appendix 1. The receptionist is paid an hourly wage and will be required to work full-time, a 38 hour week. Monday to Thursday 8:30-5:00, Friday 8:00-5:00.They must sign on and sign off on the company's timesheet The bookkeepers are paid an hourly wage and are employed on a full-time and part-time basis. Each bookkeeper must sign on and sign off on the company's timesheet. Casual bookkeepers are paid an hourly wage, on a, as needed basis. The casual bookkeepers must sign on and sign off on the company's timesheet. 7. Overtime Work performed outside or in excess of the hours prescribed in clause 6 shall be deemed overtime and shall be paid for at the rate of time and a half for the first three hours on any one day and thereafter at the rate of double time. B. Meals Where an employee is required to work overtime after ordinary working hours in excess of one and one half hours on any day, the employee shall be supplied with a suitable meal or be paid a meal allowance of $15.50. A one hour unpaid meal break will be taken between the hours of 11:30am - 1:30pmB. Superannuateon The company must make superannuateon contributions in respect of each employee of such amount as required under the Superannuateon Guarantee (Administration) Act 1982 (Cjb) as amended, based on the employee's ordinary time earnings. Superannuateon contributions will be made to a complying superannuateon fund nominated by each individual employee of the Company. The default fund for the company is Australian Super Member number STAO10DAU. 9. Deductions In the event of an overpayment of remuneration to any employee, the company may recover the amount of overpayment by way of deduction from any subsequent payment made to the particular employee, provided the relevant employee is given written notification of the company's intention to recover the overpayment, the amount to be recovered and an explanation of the reason. 10. Public Holidays Employees will be granted the applicable public holidays as gazetted in the State. Work performed on a public holiday will be paid at the rate of double time and a half with a minimum of 4 hours. 11. Annual Leave All employees, other than casual employees, shall receive four weeks' (152 hours) paid annual leave in accordance with the Act, such leave to be taken at a time agreed between the company and each individual employee. A leave loading equivalent to 17.5 per cent of four weeks' salary shall be paid to an employee, other than a casual employee, who has completed twelve months' continuous service with the company. Unused annual leave will cumulative without limitation from year to year. Upon termination of an employee's employment with the company, they will be paid for any unused accrued annual leave. No leave loading will be paid on unused annual leave. Any other requirements of annual leave not stipulated in this Agreement shall revert to the National Employment Standards for Annual Leave. 12. Personal / Carers and Compassionate Leave An employee, with the exception of a casual employee, shall be entitled to ten days' personal/carers leave at the commencement of each year of service. An employee's entitlement to paid personal/carer's leave accrues progressively during a year of service according to the number of ordinary hours worked, and will accumulate from year to year. Employees shall not be entitled to paid leave of absence for any period in respect of which the employee is entitled to payment under the Worker's Compensation Act 1987. The employee shall notify the Manager of the general nature of the absence and the estimated duration of the absence, where practicable, prior to the commencement of the first day. An employee (including a casual employee) is entitled to two days of unpaid carer's leave for each occasion when a member of the employee's immediate family or household requires care or support because of a personal illness, injury, or an unexpected emergency. An employee (including a casual employee) is entitled to two days of compassionate leave to spend time with a member of their immediate family or household who has sustained a life-threatening illness or injury. Compassionate leave may also be taken after the death of a member of the employee's immediate family or household