BG451 Taxco Payroll Services
Taxco Business Guide
The objective of this business guide is to summarise important considerations regarding your payroll and especially how Taxco can assist therewith in your business.
As one of our comprehensive speciality services, Taxco provides payroll services that improve payroll management for employers of every size and type. We handle the time-consuming tasks of payroll processing and employee payroll tax filing so you can focus on the core areas of your business. We provide an efficient payroll service that streamlines the payroll process, improves productivity and management reporting and enables you to better administer your business. You manage the level of control and responsibility as it pertains to your payroll, we provide the tailor made service.
One of the services that a small business will be looking to outsource is getting an experienced accounting firm in South Africa to provide them with payroll services.
Although there are many small business owners that have the knowledge, experience, expertise and patience to do this on an ongoing basis, there are many small business owners that do not have any skill sets of the above, because they are focusing on what they do best, which is run their business, so as an alternative that they can consider if this is something that needs to be done is to find a reputable accounting firm in South Africa that will be able to assist with the time consuming job of doing the payroll.
In the case of larger companies or trusts, this is something that needs to be done by a full-time dedicated resource, likeTaxco Payroll, that will focus on the responsibility of simply keeping the payroll management aspect in order. There are usually more employees that work within a company or trust than do within a small sole proprietor business, so the decision to manage this change for all entities requires attention and to ultimately do it because, if there are people working for the company or sole proprietor, they need to get paid.
Online Payroll Processing Services
This is a service that needs to be done if you are a business and you have people working for you, be sure that you hire professionals to do the job right.
Payroll management is one of our top services. Taxco Payroll helps our clients that have businesses to deal with how to pay their employees in a SARS compliant manner. Whether the employee wants it by cheque or direct deposit, we will do everything for our client to complete the payroll for them. Depending on when the employees are paid (weekly or bi-weekly), we need you to send us the number of hours each employee worked so that we can take care of their cheques or electronic transfers.
Our online payroll processing service lets you spend more time on your business performance, and less on non-core functions of payroll. It not only helps you manage your employees, their salaries, leave, staff loans and beneficial tax structuring, but also keeps you in compliance with all the SARS regulations.
Payroll processing is one of the most complicated yet important administrative tasks for any business. With Taxco online payroll processing services, now you can keep your staff happy while satisfying all the taxing systems with minimal effort.
You fax or email the employees time, hours, monthly bonus increase, bonus and leave and we email back a complete salary and wage register with payslips, coinage and debit order instructions for salaries, wages and deductions to every payee as per the agreed payroll deductions.
Our online payroll processing services reduce the costs, improve employee relations and ultimately increase business productivity. Our secure website, vast knowledge and extensive experience allow our clients allover South Africa to rely on our online payroll processing services.
Benefits of Our Online Payroll Services
Our online payroll processing save you time and let you direct your attention to the main issues concerning your company’s growth and productivity.
Our payroll services are three-in-one: Cost effective, Customized and Convenient.
- We help you stay in compliance with the Revenue authorities by ensuring that your company pays taxes for those employees that are liable to.
- Customer satisfaction is our main priority. We are prompt, responsive and technically sound in answering and solving any issues regarding your payroll management.
- Safety and security of your payroll is given precedence
- You can deliver us your documents in whatever way you feel comfortable, either by fax or email.
- No limit to the number of companies or employees which you may add.
- Unlimited flexibility offering many exciting and advanced options.
- No set up or annual fees. You pay per employee as your business evolves.
- The reports we prepare are easy to read and understand.
Let the professionals at Taxco Payroll handle this time-consuming and annoying task of payroll processing, while you focus on your business growth.
Payroll Outsourcing Services
- Input, calculation and processing of payroll data – weekly, bi-weekly & monthly
- Generation of pay slips & payroll reports
- Generation of third party payment schedules - medical aid, pension and provident fund contributions
- Completion of statutory returns
- Staff loan deductions, interest,thereon and balances on payslip
- Generation and reconciliation of IRP5 and IT3 certificates
- Processing and tracking of all leave
How can Taxco help?
Our Taxco Payroll provides clients with a fully comprehensive payroll service tailor made to meet individual client requirements. Using specialist payroll software, we deliver a high quality service, consistently and on time whilst being sensitive to the confidential nature of the information being processed.
Our people are highly skilled and have a wealth of experience dealing in a wide variety of sectors.
This Guide is subject to the Terms and Conditions of Use of Taxco Services and their Website.
Frequently asked questions
- How can you save me from all the payroll hassles?
- How do employees get paid?
- What do I need to get started?
- Can I switch payroll providers mid-year?
- How do employees get payslips?
- How do I keep control of my payroll?
- What about reconciliations?
- What is UIF?
- Does a casual labourer have to pay UIF?
- Must overtime be included in the UIF calculation?
- What is SDL?
- Do directors of a company and members of a CC have to pay SDL?
- What is PAYE?
- What is OID?
How can you save me from all the payroll hassles?
There is nothing better than personal attention from a trusted professional who knows your business. We assist you to never miss a deadline and to never pay the wrong amount. We keep all your payroll information maintained and available.
How do employees get paid?
Net pay amounts can be directly deposited into employee bank accounts and payments made for all the statutory and other deductions on your behalf. We do the payroll, you concentrate on your business.
What do I need to get started?
All we need is your company and employee information and payroll history, if any, for this year. Call us to schedule an appointment to discuss your specific payroll requirements.
Can I switch payroll providers mid-year?
Yes, we can start your payroll anytime as long as you have records of your payroll history.
How do employees get payslips?
We can either email them to you, or directly to the employee. We do the same for the annual IRP5 or IT3.
How do I keep control of my payroll?
We will provide you with a variety of reports that will allow you to remain informed and in control of your payroll.
What about reconciliations?
We do the reconciliation and take care of the submission to SARS every six months as required. Tax certificates (IT3a/IRP5) must be issued to employees at the end of February each year, or when the employee leaves the employment of an employer during the tax year. An EMP501 reconciliation must also be completed and submitted to SARS at the end of each tax year (filing season is usually April and May). Tax certificates can be printed from the payroll. Our payroll also generates a file to import into e@syFile, so that you don't have to manually capture tax certificates.
What is UIF?
Unemployment Insurance Fund contributions are deducted and paid over on a monthly basis. UIF provides short-term payment to workers who are unemployed, or cannot work beacuase they are on maternity leave, ill, etc.
Employers have to regsiter with the UIF. Complete the UI-8 form and fax it to 012 337 1636. UIF will provide you with a registration number. Registration must be done within 14 days after becoming an employer.
The employee contributes 1% and the company contributes 1% every month. You need to pay over the contributions by the 7th of each month. If you pay over tax to SARS, then complete the EMP101 form and pay the UIF as part of your monthly EMP201 payment to SARS. If you are not registered with SARS, then pay UIF directly.
In addition to monthly payments, you need to declare your contrbutions to UIF. Our payroll can electronically submit this declaration to UIF (so, no need to complete those UI-19s manually). This declaration gives UIF all the information they need in terms of new and existing employees as well as employees leaving your employment.
Does a casual labourer have to pay UIF?
The act states that an employee working for more than 24 hours per month must contribute to the Unemployment Insurance Fund.
Must overtime be included in the UIF calculation?
Yes, it must be included.
What is SDL?
Skills Development Levy is a company contribution that employers must pay every month. The levy funds education and training through the SETAs.
Employers have to register with SARS by completing the EMP101 form if the total SDL leviable amount for the next 12 months will exceed R500 000. Registration must be done within 14 days after becoming an employer.
Payment of the 1% levy is due every month by the 7th and must be paid as part of your EMP201 payment to SARS.
Do directors of a company and members of a CC have to pay SDL?
Yes, all directors must be registered to pay SDL.
What is PAYE?
Employees' tax must be deducted from any payment made or benefit given to employees every month. The tax deducted on the payroll is seen as an advance payment of tax due by the individual at the end of the tax year.
Employers have to register with SARS by completing the EMP101 form within 14 days after becoming an employer.
Payment of PAYE is due every month by the 7th and must be paid as part of your EMP201 payment to SARS.
Tax certificates (IT3a/IRP5) must be issued to employees at the end of February each year, or when the employee leaves the employment of an employer during the tax year. An EMP501 reconciliation must also be completed and submitted to SARS at the end of each tax year (filing season is usually April and May). Tax certificates can be printed from the payroll. Our payroll also generates a file to import into e@syFile, so that you don't have to manually capture tax certificates.
What is OID?
The Compensation for Occupational Injuries and Diseases Act applies to all employers and casual and full-time workers who, as a result of a workplace accident or work related diseases are injured, disabled, killed or become ill. Payment includes payment for medical costs, termporary disablement, permanent disablement and fatalities.
Employers need to register with the Department of Labour by completing the W.As.2 form.
The W.As.8 is distributed during February/March each year and must be completed and submitted to the Department of Labour each year by 31 March.