There are many advantages to outsourcing your business payroll needs. While you are busy running your business, there is little time especially at month-end to have to steer through every employee’s salaries, wages, deductions and calculations; outsourcing payroll keeps your overheads at a minimal, which saves you time and money, allowing you to continue keeping your business afloat and running optimally during the busiest times of the month.

By outsourcing your payroll, you have immediate insight into the latest statutory and legislative requirements with regards to payroll for your company. TLT Accountants will keep you up to date so that you don’t miss a thing, because you’ve got more pressing things to worry about. On top of that, payroll accuracy and punctuality are guaranteed when you outsource the task – your employees get paid on time and accurately, keeping them and you as the business owner happy. This is why so many businesses find that outsourcing their payroll needs leads to much greater operating efficiency.

TLT Accountants can carry out a range of payroll services on your behalf, including:

  • Completing and submitting returns to the Compensation Commissioner
  • Employer tax reconciliations (EMP501)
  • Generate IRP5 and IT3 certificates
  • Generate payslips
  • PAYE registrations
  • PAYE, UIF and SDL calculations and submissions
  • UIF and compensation commissioner registrations

We’ve had a few questions from business owners that regularly come up when enquiring about payroll services. If you struggle with payroll, particularly if you’re a new business or growing rapidly, TLT Accountants is glad to help, and we will answer any questions you might have about the process. If you would like, we can recommend solutions for you that are tailored to your industry and business type, so that you never have more on your plate than is necessary, or less than you need.

Will I be in control of earnings and deductions?

It is perfectly possible to outsource the administration of the deductions on your staff’s salaries, to make it easier for you to keep accurate and verifiable records of every aspect of your employees’ earnings and payments. We at TLT Accountants can handle:

  • Administration of leave
  • Company deductions (for example, staff uniforms, social clubs, team building experiences and more)
  • Medical aid fund deductions
  • Pension fund deductions
  • Provident fund deductions
  • Staff loans
  • Fringe benefits

What are statutory registrations?

As an employer, you would need to register your company at SARS (the South African Revenue Service) for payroll taxes (Pay As You Earn – PAYE), at the Department of Labour for UIF (the Unemployment Insurance Fund) and the Compensation Commissioner for Compensation for Occupational Injuries and Diseases.This process, if not handled with properly, can be time consuming, difficult and stressful. By outsourcing these company-related registrations, we do all of these registrations for you. Over and above that, we will also submit the returns as required by SARS, the Department of Labour and the Compensation Commissioner.

Contact us to find out more about our payroll offering, and how outsourcing the services can greatly streamline your business efficiency.