Outsourcing your payroll will enable you to streamline your business through a restructuring of administrative processes, enabling it to run more efficiently. The payroll function has become more and more complex over the last couple of years. This is due to regular changes in tax legislation and the, already complex, labour laws.
How confident that you have the expertise to accurately and efficiently handle your business’ payroll?
We offer the following STANDARD services:
• Processing of salaries and wages, including preparation of payslips,
• Reconciliation of all deductions eg: PAYE, UIF etc,
• Preparation of salary-related reports,
• Preparation of statutory payroll taxes – UIF, SARS etc,
• Employee information is kept up to date on the payroll system,
• Submission of the EMP501 (employer reconciliation) and distribution of IRP5 certificates,
• Administration of leave,
• Processing of all salary related items eg: overtime, staff loans, bonuses, travel claims etc,
• Processing of administrative changes eg: bank details, addresses etc for individual employees.
So, what are some of the benefits of outsourcing your payroll?
• The time capturing your payroll data every month is reduced to almost zero. The only time spent is collecting and sending the information.
• All submissions to SARS are taken care of, except payment of course.
• You have access to our specialist knowledge of current tax legislation.
• You don’t have to worry about the changing tax laws – that’s our specialisation,
• All sensitive and confidential data is secure and away from employees.
• One dedicated person to liaise with regarding your information.
• Stationary and software costs are reduced to a minimum
• Data is stored securely and is subject to thorough back-up procedures
Productivity is all-important to an organisation’s survival. This entails using every available minute in the working day to its full potential. The bc accounting services specialist payroll team will free up your staff to focus on your core business. This means you win on two fronts: 1. by using our specialist knowledge and 2. Your staff can be used to do what they do best – looking after your business.
Outsourcing is a good long-term investment that, over time, will pay for itself over and over again. Opting not to outsource your payroll function, means you could run the risk of penalties being imposed due to non-compliance.
The logical conclusion is to outsource your payroll function to the highly professional team at bc accounting services. Our dedicated team provides a pool of expertise with which you can consult when needed. This will leave you and your staff free to concentrate on your clients.