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Bi-annual PAYE submissions simplified

Businesses are required to submit a bi-annual PAYE reconciliation submission based on the first 6 months of the tax year. Which is basically a reconciliation of each months EMP201’s that is uploaded via an EMP501 certificate, to SARS for the half year ending in August to be assessed.

Essentially a summary of all of the EMP201’s statements that encompass PAYE, SDL, UIF and ETI’s for the first six months of the tax year, the process benefits accountants and bookkeepers in providing them with a more accurate indication of their PAYE status, the ability to identify payment gaps, and reconcile and eliminate their own administrative issues on a regular basis.

While the practice of submission is often regarded as tedious and time consuming, Diran Padayachee, Payroll Specialist at EasyBiz Technologies, begs to differ, stating that the process is actually rather straightforward.

“While capturing the submission information manually can certainly be tedious, it can be fairly easy when an automated payroll system is in place and accurate employees personal and financial information has been captured, and EMP201’s are correctly submitted each month,” explains Padayachee.

The business world and its associated accounting processes have been impacted by the global Covid-19 pandemic and lockdown conditions have compelled several businesses to adapt to the changing environment.

Padayachee says that the best way to manage these submissions is to ensure that all employee information is constantly up-to-date and accurate. He advises that accountants and bookkeepers need to be aware of the latest legislative changes and BRS specifications, all of which can be made easier by implementing the latest version of E@syfile, which is SARS’ free eFiling-linked software.

QuickPayroll, a product distributed by EasyBiz Technologies, allows accountants and bookkeeping professionals to produce and print tax certificates at the push of a button. It also facilitates the easy uploading of these certificates to SARS’ E@syfile and eFiling online returns systems instead of having to capture them manually.

QuickPayroll provides users with an exception report to ensure accuracy before submission to SARS. It contains the latest BRS specifications, latest legislation, mid-year and year-end statutory reports. Overall, it really makes payday and submissions quick, easy and safer,” he concludes.

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