Payroll and Reporting
We recognise that the Payroll and Reporting function is one of the most important within any business. Pay staff incorrectly or late and you could end up in business rescue very quickly. As organic growth accelerates so does the cost of employment. The following critical issues need to be considered in addition to those already referred to above and include:
CONFIDENTIALITY
The recent release of Global Data Protection Rules (“GDPR”) rules by the EU combined with our own Protection of Personal Information (“POPI”) rules place significant demands on employers to ensure the data integrity and security of personal data. Corporate brands have recently been under the spotlight for failure to retain this security and confidentiality and which has had a negative impact on their brand.
COMPLIANCE
The legislative requirements for tax, social securities and adherence to Company policy are evolving continuously. To ensure your payroll complies with these is fundamental to avoid unnecessary cost and time in remedying same.
REPORTING
Reporting accurately and on a timely basis is key to ensure employee contributions are invested without delay and further to avoid penalty and interest on deductions withheld on behalf of SARS.
At CR Hook & Associates we manage cost down by sharing our fixed costs across all our clients. At the same time, you can rest assured you are receiving high quality focussed attention on your employee payroll that goes beyond meeting the above critical issues.
Our services in this regard include:
1. Receiving, analysing and interpreting of data;
2. Electronic upload of data thereby minimising time and cost on routine activities;
3. Calculation of Gross to Net;
4. Extracting standard reports that include:
- Pay reconciliation;
- Variance report;
- Cost centre reporting;
- Net Pay listing;
- Bank file; and
- General Ledger update file.
5. In addition, we prepare select analytical ratios and comparatives on a monthly and annualised basis which will support you from a cash flow, budgeting and audit perspective.
This end-to-end service is a second speciality service we provide to our clients.
