A happy workforce is the heart of every organisation and an efficient payroll department is what keeps this heart beating. It is important to have a strong payroll department that first and foremost is compliant and competent enough with the relevant legislation whilst also ensuring that employees are paid in a timely and accurate way. This will not only build up your company’s reputation but will also help with keeping your workforce satisfied.

Processing the Payroll

• The start of every payroll is by calculating the gross pay of every employee as per each individual agreement.Calculation of time sheets can be rather tedious, time consuming and error prone especially if traditional time sheets are used. Payrise takes pride in its state of the art time and attendance software which makes the process a whole lot easier.
• The second step is to calculate the net pay by calculating the local income tax and national insurance in accordance to the individuals’ withheld information which will be then subtracted from their gross wage together with other relevant deductions that might occur from time to time.
• The last step of the payroll is to issue the payments in a timely manner to avoid any disgruntled and unmotivated employees.
• It is very important to keep record of all the vacation leave and sick leave amounts on a month by month basis to ensure the optimum planning of leave approvals and avoid any over-payments.

Compliance with Payroll

• Detailed records must be kept in an organised manner to minimise issues that might arise in the future of non-compliance and will also help in assisting in a smoother financial audit at year end.
• Paying taxes in a timely manner along with the submissions of monthly reports of FSS Tax and SSC deductions by means of FS5 form.
• All engagements and terminations to an organisation’s workforce requires the immediate submission of the relevant forms with Jobsplus and an FS4 submission with the inland revenue department