Employers can attest to the fact that when it comes to payroll, this is a rather sensitive, yet integral part of their core business activities – and as an employer, you want peace of mind that all your statutory requirements are met.
Although having your HR employee or the office manager handle the payroll function can be cost-effective, are you confident that if you were to be audited by SARS or the Department of Labour, that all your payroll-related statutory requirements are in order? If not, perhaps you should consider the benefits of outsourcing your company payroll and here are a few reasons why:
- Skilled expertise in payroll - the outsourced accounting & payroll staff at RSM are up-to-date with the latest in payroll tax laws and have the necessary knowledge and experience to ensure that your company needs are met.
- Our payroll systems are in line with the latest in technology and cloud-based accounting packages. The added benefit to you, as the employer, is that it is all inclusive in the cost – which means you will be cutting costs in software licencing and upgrades.
- Our services are not limited to the monthly processing of payroll, we can assist with registrations of all payroll-related taxes and we administer other HR-related functionalities such as the processing of employee leave applications and distribution of payslips.
- Ensuring crucial deadlines are met - such as the Compensation Fund annual return of earnings and the SARS EMP501 reconciliations. We ensure that all your monthly and annual deadlines are met to ensure you remain compliant with SARS and any other 3rd party regulator.
- No stressing about the tax on severance packages as we assist with SARS tax directive applications and we are equipped to handle any other SARS-related queries.
- We ensure that your monthly statutory requirements are met with the Department of labour at no extra cost. We are able to assist and advise on the completion of UIF forms for employees who facing dismissal or want to claim maternity benefits.
- Real-time payroll reports available upon request for your business needs.
- Better risk management - eliminate the risk of fraudulent transactions to ghost employees and reduce payroll processing errors.
- Tax experts – we have the necessary on-site resources to handle complicated tax calculations for expat employees in compliance with South African law.
- Enhance security of payroll data – rest assured your payroll data is safe, secure and remains confidential. Records of all your current and historic payroll data can be made available to you on request by an authorised person.
And if your current payroll function is not in order, we will assist in bringing you up-to date and compliant. For a free fee proposal or consultation on our outsourced accounting services, please feel free to contact us.
Supervisor: Outsourced Accounting & Payroll, Cape Town