Preparing your data for Tax Year End
February is the shortest month on the calendar, but also the most important month for payroll – it’s the last month of the tax year!
Here are a few tips, which might help you to get your payroll ready for tax year end:
Now is a good time to reconcile the PAYE, SDL, UIF and ETI (if applicable) for the previous 11 months! This will save you time by only being required to reconcile the last month.
Print your Exception Report – if there are any issues that might affect generating the tax certificates, this can be resolved BEFORE starting the new tax year.
Plan your submission before the deadline: We have seen so many times people try to complete the full process right before the submission deadline, placing unnecessary pressure on themselves to get this done in time. Put some time aside to prepare and complete your submissions as soon as filing season opens. If there any problems or issues, you still will have enough time to resolve it and submit your tax certificates to SARS in time, well before the deadline. This will save you time and frustrations of waiting for assistance in the last few days of filing season.
For more information on the above topic, please contact the LabourNet Helpdesk at
0861 LABNET (0861 522638).
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