Curated by Lezé
1 March 2023
Overview
- Looking back at the many hats worn by the Payroll professional
- Breaking news
- The new Tax Year
- Helpdesk Tips
- Staff Bio -Bronwyn Masters
- New product features
- Partnerships
- Updates
- Paymaster Announcement
The many Hats worn by Payroll Professionals
Looking back at the many hats worn by the Payroll professional
Over the last few months we have unpacked the many hats the trusty Payroll professional wears as an essential part of the business they serve. Let’s have a look at them again. They are;
Hat 1: The interpreter of Legislation
They are rightly held accountable for accurate interpretation and implementation of legislation relating to the employer/employee relationship.
Hat 2: The keeper of records
Your reputation as a trustworthy Payroll professional is based on your ability to quickly, and efficiently, find requested documents or information. Even if they go back a few years, you are expected to locate the expense claim, leave form etc.
Hat 3: Gatekeeper of Compliance
To educate and inform employees around the fundamental importance of compliance with the company’s Policy and Procedures. High levels of compliance in an organisation, results in a positive impact on everyone.
Hat 4: Communicators of change
This is the only department able to explain how the changes will affect the employees’ take-home pay, or their benefits (eg. leave days or pension deductions). This is a unique opportunity to interact with the employees, and make sure there is complete understanding of how the changes will impact each one personally.
Hat 5: The resonsibility of “What if”
When management wants to know how changes will affect staffing costs, the Payroll department is their “go to” for answers. We are trusted to give accurate information, so they know they can rely on our reports, projections and opinions to make decisions.
Hat 6: The importance of being Trustworthy
As a Payroll professional, take pride in the trust your company puts in you, and always act with integrity! Don’t let one careless mistake destroy all you have worked for. Remember, trust is EARNED, and very hard to restore once lost!
Hat 7: Offering Counselling
Payroll administrators handle private, often very sensitive information. For this reason they are usually trusted by the staff. Sometimes listening is enough. Or we will explain what the company policy is, and let them make up their own minds. Other times, when we give them advice, they go away knowing that we have their best interests at heart. We care.
Hat 8: We are problem-solvers
With a calm and steady approach, we confidently take charge of the situation and deliver the perfect solution. We take time to ponder over the most-appropriate solution, and to carefully deliberate over the various options, considering consequences that can be disastrous, or a perfect fit.
Hat 9: We are the moral compass
The Payroll professional uses the litmus test representing the values of an organisation. We are called to be brave and ethical, speaking out when necessary. Especially in ethically “grey” areas.
We should be proud of the important role we play in the organization. We are the backbone, serving the people who make the business achieve it’s stated goals as efficiently as possible. Stand tall, and wear your many hats professionally.
Coming next… A summary of the many hats worn by the Payroll professional
– Provided by Ian Hurst –
Breaking News
Budget Speech 2023/2024
The Minister of Finance, Mr. Enoch Godongwana, delivered the National Budget Speech 2023 in Parliament on the 22nd of February 2023.
To assist you in understanding the important highlights, we have compiled selected resources for your reference. You may download them by clicking on the links provided below.
New minimum wage
Budget Speech
Compact Payroll guide
The New Tax year – starts 1 March
1 March is the day
From 1 March, you will be rolling over into the new tax year. Most payroll systems now “lock down the old tax year” and you can no longer change any of that information. So sort out any issues before the tax year-end. You really don’t want to start having to open the payroll to change earnings or deductions or add information once 7 March has come.
Here are five things that will make your life easier:
1) Check that your employees details are complete
Check that all the information required by the Receiver is correct and complete for all employees. To do this, you need to draw a report from your payroll system listing the following:
- Address of the employee.
- Banking details of the employee.
- Identity, work permit or passport number.
- Tax reference number.
2) That all reconciliations are done – payroll deductions to Emp 201 submitted and paid to SARS
Reconcile all Emp. 201 payments made to SARS to the figures declared on the monthly Emp. 201 form submitted to the Receiver. These must balance. (If not, correct the issue as soon as possible – or make a note of why there is a difference, so you can explain it on your annual submission).
The best way to check the balances is the EMPSA from SARS. This shows the actual payments that have been recorded for the year, and can be compared with the year-to-date totals from your payroll system. If this balances then the Emp.501 reconciliation on Easyfile should not be a problem.
3) Confirm all submissions to SARS
Check to make sure that SARS has received all your EMP.201 submissions and that there are no outstanding issues that need to be dealt with. It is ALWAYS a good idea to keep up to date with SARS documentation.
4) Remind company car and travel allowance holders
Remind all your employees who have company cars or car allowance to record their millage first thing on 1 March. Make sure all the details of the vehicle are recorded on the payroll. They will need to upload their log book or make sure that the logbook is complete for the tax year.
5) Resolve any outstanding issues
Make sure that all the earnings and deductions are listed under the right payroll codes. In addition, make sure you have all the information for any retirement annuity and medical aid tax deductions you have made.
It is a useful exercise to run a test IRP 5 upload, since this can show you any faulty issues, such as negative 3601 income or negative retirement funding income which can be corrected in the February payroll. It will also give you any area of incomplete or missing information. These all have to be corrected before Easyfile will accept the upload file.
Guide for codes – employee tax certificates 2023 (click here)
List of registered bargaining councils (click here)
If this feels too overwhelming, consider joining the many happy Paymaster clients. Contact our Helpdesk for additional information.
– Provided by Ian Hurst –
Helpdesk Tips
How to add a component based on a percentage of a different component
Automating payroll calculations can simplify the process of determining employee compensation, especially when it comes to calculating components based on percentages of other components. In this guide, we will explain how to set up automatic calculations, using the example of Component A, which is set to calculate 10% of Component B (Basic Pay). Click below for directions on how to add a component based on a percentage of a different component.
How to add a component based on a percentage of a different component
Please call our Helpdesk for your queries –
021 712 7333 help@paymaster.co.za or
WhatsApp us – 081 711 1276
Which Report to run to view Employee Financials
To view an employee’s payroll financials on a month-to-month basis, employers may need a year-to-date report, such as a 12-month report, for purposes like submitting supporting documents to SARS or analyzing the employee’s financial data, which can be found on the Component Variance Report. Click below on how to run the component variance report.
Which Report to run to view Employee Financials
Staff Bio
Meet Bronwyn Masters
Meet the friendly and spontaneous Bronwyn Masters. She has been the finance administrator at Paymaster for a year and a half, and reports to 3 people, depending on the task, they are Beverley the finance manager, Nafeesa the office manager and Ian the managing director. She says her responsibilities include doing the monthly SARS tax submissions, invoicing, and all the SARS queries and correspondence. She worked in big corporate before, but enjoys the more personal vibe at Paymaster. She is a divorcee and has 4 beautiful daughters, ranging in age from of 11-17 years old
.
Bronwyn attended San Souci Girl’s High School and graduated with an accounting degree from UNISA. While working (and falling in love with numbers) she also achieved a Higher Diploma in Tax Law (via correspondence) at RAU, later the University of Johannesburg. Her corporate career started at an accounting firm as an admin assistance and eventually, she become a tax administrator. She was with this firm for quite a few years, until she moved on to a job as a creditors clerk in the liquor industry. Unfortunately, the alcohol ban during the Covid lockdown saw many people retrenched, including our lovely Bronwyn.
Fortunately, she found Paymaster. She is happier at a smaller company and says it gives her more flexibility, as it is not focused in one specific area, like a bigger firm. She explains that Paymaster has given her the opportunity to diversify her skills. Prior to this she hasn’t had any exposure to payroll, so she is grateful for this. She found the vibe at Paymaster was so welcoming ,and that management didn’t see her as just a number ,but as a person. This was a total game changer for her, compared to the corporate environment she worked in before.
In addition to her financial tasks, she also assists, on an ad hoc basis , with various tasks. These include helping with the wording of technical emails involving tax law and labour legislation. Bronwyn sums up her personality as emotionally stable, agreeable, intellectual, cheerful, empathetic, self-conscious and trustworthy. She is a precious gem and wonderful colleague to work with and Paymaster is fortunate to have her.
New Product Features
New enhancements
New UI [User interface] Enhancements
We are always looking for ways to improve the user experience of Paymaster. An area that was a candidate for improvement was the user interface when searching for a company or employee and accessing the configuration menu. These actions showed a pop-up form that completely overlayed and hid the working area of the application. We have improved this approach by rather having a more compact form slide out from the right-hand side of the application UI. This is an improved utilisation of the screen space that still keeps the application visible to the left-hand side of this slide-out form.
It is important to remember these changes are merely cosmetic and don’t impact the system’s functionality. The functionality and search results will be exactly the same as previously – they will be accessible in a new modern look.
Difference between the old and new look of the SCREENS
Company Search
Old Screen
New Screen
New landing page after logging in (company search slides in from the right instead of being full screen)
Employee Search
Old Screen
New screen
New employee search screen sliding in from the right.
Configuration Menu
Old Menu
New Menu
Configuration menu also slides in from the right.
Any issues can be directed to help@paymaster.co.za
Partnerships
Our partnership with Biosyn and Floatpays is another way that Paymaster endeavors to deliver greater value to our clients.
Paymaster is partnering with BioSyn, to bring you the latest, and best, in Time and Attendance Systems.
No readers needed. Log your hours via the app
Discover the benefits of Paymaster Time and Attendance!
Learn about the different biometric recognition options and find the perfect time and attendance solution for your business. Our consultant will guide you in maximizing your savings and ensure the right choice for your environment. Stay ahead with the latest facial recognition tips to ensure responsible and ethical usage.
For those who are interested in learning more about Paymaster time and attendance, be sure to visit our website for more information. On our site, you can find detailed articles, product reviews, and more to help you make an informed decision about your time and attendance system. For more information on
services
and
prices,
simply click here.
or contact Glen Coburn at glen@paymaster.co.za, or call +27 836791311.
Partnerships
continue…
Financial Stress in South Africa:
Understanding the impact of debt repayments on take-home pay.
Financial stress is bad for your staff and your bottom line!
The best way Floatpays can help reduce debt is by providing on-demand access to earned wages through integration with Paymaster payroll. Employees can access their earned-but-unpaid wages through EFT, instant money vouchers, or prepaid vouchers. If you want to improve financial stability and increase happiness and productivity among your employees, reach out to us.
As a Paymaster partner, Floatpays is already integrated into the Paymaster payroll system, so set-up is quick and easy! Get in touch with Glen Coburn at glen@paymaster.co.za, +27836791311, to book a free DEMO.
Paymaster Updates
Welcome to the payroll news updates! Here, you will find the latest updates and information on all things payroll. We’ve got you covered from employee payroll and payroll tax to payroll management and payroll software.
You’ll find the weekly and Africa updates and resources to help you stay informed and on top of your payroll responsibilities and legislative changes you should know.
March
- Audit Trail | Icon moved to improve visibility
- Job Management | Multiple Start and End dates
- South Africa | ETI Period Count override via Costing
- South Africa | Residential Accommodation Fringe Benefit
March
- RSA – Budget Speech 2023/2024 Changes
- Kenya – NSSF contribution increase
- Namibia – Tax Changes 2022-2023 tax deduction limit increase
- Zimbabwe – Finance Act changes
Paymaster Announcement
Welcome to our “Free Payroll Knowledge” webinar series! We understand that payroll can be a complex and challenging task for small businesses, which is why we want to help. We’re excited to announce that our webinars will take place twice a month, on a Wednesday at 10:00-10:30. The series will be an open discussion format,
you ask any payroll question, we have the answer.
We will be announcing the details of each webinar on our social media channels, so be sure to follow us to stay updated. You can join the webinar using the link we will provide.
Closed
- Wednesday
- 15 February
- 10:00
Schedule the next webinar
Register here
- Wednesday
- 1 March
- 10:00
Who is this webinar for?
For payroll professionals increasing their skill base, or those new to this function. Or maybe you’re exploring Paymaster as a payroll option….this Webinar is aimed at all of you.
Click here to go to the previous Newsletter
– Monthly newsletter curated by Lezé Felton –
