Payroll Services
Streamlined payroll management
Our service
What our payroll services include
Our payroll services provide more than simple payroll calculations. At Thryv Accountants, we utilise technology and our team of experts to reduce time-consuming administrative duties for business owners while creating engaging experiences for employees. After all, business is all about efficiency, compliance, and growth.
Some of the components featured in our payroll services include:
- PAYE, UIF, SDL, EMP501, and UI19
- A Compensation Commissioner
- Preparation and submission of all SARS returns (such as VAT, Withholding Tax, Provisional Tax and Income Tax)
- Monthly payslips, leave management, and expense claims
- Employee info updates
- Monthly EMP201 submissions, Bi-annual EMP501 submissions, and COIDA return of earnings
- UIF Returns and payroll payment batches
definition
What are payroll services?
Our payroll service simplifies your entire process of payroll and guarantees an accurate and precise payment schedule, which includes:
- Monthly payslips
- Leave management
- Expense claims
- Payroll taxes and tax returns
- Tracking accurate employee attendance and hours worked
- Ensuring all payroll payments are made correctly and on time
- And many other payroll processes
How does payroll work in South Africa?
Payroll processing in South Africa is not as simple as it appears. To avoid fines from the Department of Labour and the South African Revenue Service (SARS), you must meet certain conditions and submit a variety of documents to stay up-to-date with the latest Acts and compliance laws. This is one of the reasons payroll services are so important for any sized business because outsourcing these tasks to a professional will ensure your business does not fall behind.
Some of the laws and regulations that have to be followed for payroll processing within South Africa include:
- PAYE
- SDL
- UIF
- Following the tax and SARS regulations, which include Income Tax
If you are unsure whether your business meets all the compliance laws within South Africa, reach out to us at Thryv Accountants and we can help ensure you are up to speed with every legal and regulatory law.
Who needs payroll services in South Africa?
- You need help calculating payroll taxes
- Time is often a huge factor and it is difficult to dedicate valuable hours every month to creating payroll reports and analytics
- You need help to get your business compliant with the regulations and laws within your industry
- You often forget or have difficulties keeping track of and calculating your employees’ work hours and attendance, which makes salary payments more difficult every month
- Tax filing and SARS returns are often filed and submitted incorrectly which leads to fines and penalties
- The complexities of monthly declarations to SARS are overwhelming, such as the monthly EMP201 submissions, the bi-annual EMP501 submissions, or UIF Returns
- And other concerns and challenges during payroll processing
Application of tax
When does a company need payroll services in South Africa?
As a business owner, if you’re researching payroll services, you’re probably aware of the great benefits these services provide, as well as understanding that running payroll correctly and accurately is not as simple as it first appeared.
If you don’t have staff that are experienced or trained to run an effective payroll strategy and want to minimise the costs of internally employing someone for this burdensome task, you’ll still need to have a plan in place to ensure everything involved in your company’s payroll is completed.
When should you outsource your payroll?
Payroll is an essential component of any organisation. Payroll is important in businesses not just because it provides compensation to employees, but also because it is required by law for a company to continue operating.
Companies that begin hiring new employees and increasing their workforce will witness an increase in the quantity of administrative work required. This payroll administration process is crucial for having a solid payroll compliance structure in place – to guarantee that employees are paid appropriately, on time, and following rules and laws in South Africa.
There are also a lot of compliance documents and paperwork that need to be submitted (like the EMP501, PAYE, and other important returns). And is especially important during the tax season every year. Having a professional you can outsource this task to will make the payroll process efficient, cheaper, and safer for your business.
Get peace of mind
What are the benefits of outsourcing payroll services?
Aside from relieving the stress of payroll, the benefits of outsourcing payroll services include:
- A streamlined and efficient payroll process that is managed by an expert
- Accurate and updated employee monitoring, such as employee attendance and tracking employee leave
- Calculating payroll taxes, UIF, and PAYE
- Reducing incorrect payments and payroll errors
- Ensures all payments and payroll processes follow the laws and compliance regulations
- Having a professional who you can consult and receive real-time advice or direction
- Allow you to save time and have the assurance of a professional that handles all the intricate details of this monthly process
Payroll services in South Africa: The benefits of outsourcing with Thryv Accountants
We know how complex and overwhelming payroll can be every month, and as your business grows, so do the complexities and regulations imposed on your business.
With our team of professional experts, you can rest assured knowing your employees are paid on time and correctly. You will also not have to worry about the intricacies that are involved in the monthly and yearly returns during tax season, as we handle all relevant returns and payroll processing. At Thryc Chartered Accountants, we pride ourselves on offering our clients more than simple calculations – we offer everything you need to suit your unique business needs.
If you’re looking for payroll services and are not sure how to get started, drop us a message or schedule a call – and we can help answer any questions or concerns you may have.
