Tag: payroll

Traditional payment fraud has been rife for some time, where the cybercriminal impersonates the CEO, or other senior member of staff, to convince the finance department to make an urgent payment to either a new supplier or update their bank details.

The annual Annual Training Report (ATR) and Workplace Skills Plan (WSP) submission deadline is 30 April 2022 however some SETAs have already extended their submission dates. But for most the submission deadline remains at the end of this month. I unpack the importance of Skills Development Levy (SDL) for companies.

International Fraud Awareness Week is taking place from 14-20 November, highlighting an increasing problem that organisations around the world are facing. According to the Association of Certified Fraud Examiners (ACFE), businesses lose around 5% of their annual revenue globally due to fraudulent behaviour, which experts estimate amounts to a total annual loss around the world of $3.7 trillion.

Contrary to popular belief, migrating to a digital payroll solution is not simply a case of copying and pasting data into a cloud environment. There are system-wide dependencies to consider, especially when it comes to accessing databases and other dynamic information.

Do your employees fully understand the processes behind payroll? Payroll, for many people, remains a mystery. The processes and calculations that sit behind the monthly amount that lands in the bank account are vague and complicated. Many employees find navigating the maze of benefits, healthcare and pension payments to be overwhelming and often don’t really understand why they’ve been paid more or less each month.

Companies of every size and in every industry have a lot on their plate when it comes to tax-related paperwork. And while it is often an arduous task, ensuring accurate submission and meeting SARS deadlines is one of the most important responsibilities they face.

Outsourcing, or the transfer of a business activity or function to a third-party service provider, is a solution gaining popularity throughout Africa. This leads to a more efficient allocation of roles and responsibilities, and an organisation that runs well, performs well.

National Payroll Week is celebrated from 31 August to 4 September 2020, in South Africa. Payroll week is aimed to highlight the amount and complexity of the work performed by payroll professionals.

According to the latest Employment Outlook Survey, South African employers report limited hiring intentions for the second quarter of 2020. While 8% of employers forecast an increase in payrolls, 5% anticipate a decrease and 85% expect to make no changes. Once the data is adjusted to allow for seasonal variation, the overall outlook for South Africa stands at +2%, unchanged from the previous quarter.

This year will see HR and payroll data play a pivotal role in business, becoming an increasingly valuable asset that provides a snapshot overview of the current status of the business. This is according to Ian McAlister, general manager of CRS Technologies.