Companies often need assistance to manage their list of employees, salaries and other Human Resources functions. These functions are necessary to effectively manage a business. Companies who offer payroll services help manage these processes. Their expertise regarding accounting, tax and legislation helps businesses keep their payroll system in order.
Popular Payroll Services Include:
Supplying payroll software
South Africa has many skilled accountants and HR experts. These individuals are employed by companies to handle HR matters and financial aspects. These employees need software to dynamically fulfil their tasks. Payroll companies sell software to other businesses. The software can be customised to fit the particular company’s needs. Employees use these programs, so payroll functions don’t have to be outsourced.
Handle salary payments on a company’s behalf
Some South African companies prefer employing a third party for their payroll requirements. This arrangement has certain security and logistical benefits. The payroll company can focus on making payments on time, so this task isn’t neglected among other business priorities.
Keeping track of employees’ leave
A part of the responsibilities when handling payroll, is managing employees’ leave. South Africa has set guidelines so all workers have fair leave packages. Payroll consultants make sure a company acts within these guidelines and that accurate record of leave is kept.
Keep companies’ SARS submissions up to date
Where salaries are concerned, SARS needs to be considered as well. UIF and PAYE needs to be handled. Payments to SARS need to be made and forms submitted as required. Payroll consultants stay up to date with requirements and handle the process on behalf of businesses.
Customer support
Companies who purchase payroll software or employ a payroll consultant usually have access to customer services. Advice and information can be obtained for any payroll matter that is unclear to a business owner or one of the employees.
5 Tips when looking for Payroll Assistance
1. Double check the fees
Purchasing payroll software is usually not a once off expense. Many people have made the mistake of purchasing software or a package without realising that yearly fees are necessary. This is to obtain software updates and have access to the software’s main network. Discuss this thoroughly with your consultant so you can budget accordingly.
2. Determine what you can handle yourself
Some aspects of payroll are simple. Even if you need the support of an auditor, you may be able to handle certain functions yourself. Find out about these aspects to determine where you can save money on monthly expenses on payroll services.
3. Does the software cover all your requirements?
Every business is unique. Acquiring standard software may not suffice if your business has a unique way of functioning. Purchase your software from a knowledgeable consultant who can customise it according to your needs. This is essential if you want your accounting and payroll system to support the overall running of the business.
4. What happens when a mistake was made?
Most software programs have features that help you when mistakes are made. This can be necessary if the wrong leave or overtime is submitted. Ask your payroll consultant about these procedures so you can easily keep your payroll system accurate.
5. Which services can you combine with payroll?
Many software programs are designed to assist businesses in a variety of functions. Some payroll software packages can be combined with your general accounting system. Find out about these features before purchasing software, because using one program simplifies tasks.