Payroll systems typically manage everything involving the process of keeping records of employees’ remuneration, possible leave that was taken, payslips and providing calculations of PAYE. This process usually includes keeping track of the worked hours, withholding taxes, calculating wages and other deductions, as well as printing, distributing payments and paying government employment taxes. Payroll is an essential part of any company’s operations, and it does not only revolve around the responsibility of employees’ salary compensation but also protects a company by following compliance with tax legislation.
Types of Financial Statements:
• Internally Managed
• Professionally Managed (Bookkeepers and Certified Public Accountant)
• Agency Managed (Payroll Service)
• Software Managed (Online Payroll)
How can we help you?
Not only is it a legal requirement for your business to compile payslips for your employees, provide net payments to staff and calculate the business’s PAYE that must be paid over to SARS, but it is also needed to ensure that employees get paid on time, ensure the business is following compliance through legislative laws and tax obligations. Our services provide accurate bookkeeping skills and will provide advice as well as expertise throughout the journey working with you and your company. Here at Hills Business Solutions, we strive for nothing but success for both your business and finances.
What is Our Payroll Process?
When preparing for our payroll process, typically involves developing detailed planning of the whole process. We then proceed with managing ongoing tasks that need to be seen, involving constant monitoring of changes that are made within tax withholding and contributions. Nevertheless, you can expect the following services from us through our Payroll Process:
• Defining the Company’s Policy
• Gathering Input Data
• Validating the Input Data
• Payroll Calculation
• Payroll Accounting
When choosing Hills Business Solutions, you will be able to make your employees happy and ensure, in the eyes of the government, that you are an honourable business by paying your taxes efficiently. Having accurate and efficient payroll will contribute to the overall success of your business.