Continuing on my last blog, of the important functions of the payroll administrator, I am going to touch on producing payslips and reports in this blog.
The payroll administrator will be ready to pay the company’s employees once the payroll has been reconciled.
The payroll administrator would, at this point, issue all payslips and prepare amounts to be paid to the various employees.
Once all the payslips are issued the payroll administrator/consultant should print the following reports:
• Final reconciliation, which will contain the figures necessary for the company’s accounting records
• The amounts to be paid over to SARS for PAYE, UIF and SDL, various unions and industrial councils
• Lists showing how the amounts should be paid to outside institutions are made up, employee pension fund contributions and the total to be paid to the pension fund and medical aid
• Summary of earnings, deductions and company contributions which the company will keep for quick reference
The payroll administrator will be responsible for:
1. Completing the returns for PAYE, SDL and UIF
2. Payment to institutions such as pension, provident, retirement annuity, medical aid funds and insurance companies
These payments, once listed, will be handed over to the accounting department for payment.