ICB PAYROLL & MONTHLY SARS RETURNS Learning module 2

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If anyone studying ICB Payroll, this is the summary presentation for Learning Module taken from the ICB Payroll and Monthly SARS Returns Textbook

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ICB PAYROLL & MONTHLY SARS RETURNS Learning module 2

  1. 1. L E A R N I N G M O D U L E 2 PAYROLL AND MONTHLY SARS RETURNS ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  2. 2. PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT • Employee expectations – pg 45 • Costing human resources • First Approach pg 46 • Second Approach pg 46 • Fixed costs • Variable costs • Opportunity costs • Payroll Administrator – pg 47 • Typical Duties of a payroll administrator • Tasks • Payroll and Payroll forms pg 47 ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  3. 3. PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT • Plan payroll cycle and agree to payroll cycle – pg 50 • Payment options • Internal equity • External equity • Salary management • Human Resources • What is a payroll cycle – pg 50 • Pay periods • Weekly • Bi-weekly • Two to three times a year • Bi-monthly • Monthly • Yearly pay cheque • Commission • Per-job basis ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  4. 4. PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT • Issues a payroll administrator need to deal with – pg56 • Fraud • Segregation of duties • System access • Processes and procedures • Alignment • Mistakes and SARS • Conforming to legislation & statutory regulations • Payroll Admin Manual • Verification • Compilation • Recorded • Indication • Final report • Earnings and deduction codes ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  5. 5. PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT • Training and Resource allocation – pg 57 • Change management –pg 57 • Unfreezing • Transition • Refreezing • Economics and Cost Effectiveness • Statutory requirements and organisation procedures – pg 58 • UI19 • PAYE, SDL, UIF = 7th of the month • Medical Aid payments in advance • Pension Fund contributions (Debit order or ACB) ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  6. 6. PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT • Prevention of payroll fraud – Pg61 • Valid and accurate control mechanisms • Payroll fraud • Segregation of duties • System access • Processes and procedures • Alignment • Credibility with employees, clients & SARS • Risk assessments • Review processes • Recommendations • Identify fraud instances • Origin of fraud • Weaknesses in system • How fraud took place • Confidentiality • Forensic experts ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  7. 7. PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT • Prevention of Payroll Fraud continued • Internal controls – pg 62 • Reasonable assurance • Prevent fraud and corruption • Protect resources from • waste, • loss, • theft or • misuse • Uses resources efficiently and effectively ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  8. 8. PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT • Prevention of Payroll Fraud continued – pg 62 • Employees personal data • Verifications • Information • Correspondence • Final payroll prior to pay roll run • Internal controls – Risk Management: • Adequate segregation of duties • Custody and accountability for resources • Prompt and proper recording and classification of transactions • Authorisation and execution of transactions • Documentation • Management supervision and review • Computer access and control ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  9. 9. PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT • Evaluation and review – Pg 63 • Work outcomes • Use Performance reviews to: • Encourage and reinforce good performers • Goals and challenges • Training and talent • Identify problems and resolve them • Motivate and encourage • Performance reviews key points: • Keep focused on results • Do measures adequately equate with job success • Opportunity to motivate staff • Build relationships and understanding • Be positive • Support the values of the company ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  10. 10. PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT • Reporting deviations – pg 64 • Reasons for deviations • Discuss deviations • Discuss misunderstandings • Discuss possible improvements • Implementing corrective action – pgs 64, 65 • Joint identification of problems • Explore change • Explore management opportunities • Work integration • Business opportunities • New revenue streams • Employee understands expected competence and delivery • Set new goals and objectives • Find answers • Performance reviews not limited to formal reviews, should be continuous ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  11. 11. • Developing procedures to meet specified needs • Procedures are developed that meet identified needs and conform to statutory and organisational requirements • Tools • Structure • Compliance with obligations • Legislation • Staff morale • Respect for employees PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  12. 12. • Designs and specifications for procedures are developed in conjunction with users • What kind of workplace • Number of employees • Level of sophistication of employees • Top vs bottom layers • Managers • Unionised • One or many workplaces • HR Department PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  13. 13. • Designs and specifications for procedures are developed in conjunction with users continued • Three principles for drafting policies & procedures: • Use clear and simple language • K.I.S.S. • Pick format suitable to business • Different Formats • Standard forms • Checklists • Step-by-step • Specific rules or principles PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  14. 14. • Benefits and costs are formulated and agreed with decision makers • Centralised management of salaries function • Reduce reconciliation time • Human factor calculations • Implement and maintain procedures • Why • Fit the workplace • Three golden rules • Best format • Policies as part of employment contracts • List of policies • Laws and or collective agreements PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT ICB Junior Bookkeeper: Payroll & Monthly SARS Returns
  15. 15. • Users must be provided with support to enable them to implement agreed procedures • Practicality of procedures often look easier on paper than what is actually achievable in practice • Installed procedures must conform to relevant statutory and organisation requirements • What laws apply • Specific laws and agreements applicable to company • Policies and procedures don’t conflict with legislation PLAN, ORGANISE, IMPLEMENT, MONITOR AND WORK WITHIN THE PAYROLL ENVIRONMENT ICB Junior Bookkeeper: Payroll & Monthly SARS Returns

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