Getting people paid during Covid can become a headache if your in-house HR person is off sick or has passed away as a result of the pandemic.  HR has just so much more to contend with during this time. Let us help you make their, and your life, easier… Outsource HR & payroll.

Contact Tax Shop to help set it up, provide the software, or do it for you. Your choice. This frees you up to do what you do best – we take care of the rest.

OUTSOURCED PAYROLL & HR

Correct wages affect employee morale and reflect a business’s financial stability and reputation. Employee pay is the foundation of trust that all working relationships are built upon. When things interfere with an employee’s remunerations it affects people deeply. It is the area where you can cause a lot of damage if late, or done incorrectly.

Outsourcing Payroll ticks all the boxes to make your life easier.

5 Benefits of Payroll Outsourcing

Save time and money

Save on time
and cost

penalties

Avoid mistakes
and penalties

Data security

Improve data
security

Cloud technology

Use the latest software
and cloud technology

Increase productivity; business expansion

Focus on Business Expansion & Growth

Challenges for In-house Payroll

Legal Requirements

  • Keep abreast of state, local and industry-specific regulation changes.
  • The regulations surrounding pay are constantly changing.
  • Legislation is often open to a degree of interpretation.
  • New regulations are rarely a box-ticking exercise.
  • Compliance is becoming more complicated.

Avoid Internal Revenue Service (IRS / SARS) penalties and mistakes

Evolving Technology

  • Technology requires ongoing investment.
  • Keeping abreast of changes, upgrades and updates for the not so tech-savvy can be daunting.

Data Management and Security

  • Companies are expected, by law, to protect sensitive data.
  • Organisations need access to payroll information from anywhere.
  • Governments, as well as management, are requesting analysis and insights; e.g. comparisons and reporting gender, or other, pay gaps.
  • Data security is important– protect against loss, damage, corruption, error, hacking and viruses.
  • Backup in multiple locations to provide a safe haven for your data.
  • Using in-house payroll software can be risky: How safe and secure is payroll data on the company’s server or network?
  • Even with long time trusted employees, there is always a risk of identity theft, embezzlement of funds, fraud, tampering with company files, or even selling sensitive or personal data for personal gain.
  • There’s also the matter of confidentiality; it can cause extreme drama in the workplace if an employee “shares” how much fellow employees are earning.

Payroll Expertise

  • Greater expertise is required to keep abreast of legislation and interpret labour laws.
  • Greater technical ability is required to manage and maintain data and keep abreast of software and technology changes.

Unexpected Costs

  • The greater the experience and expertise/functionality of the software, the greater the cost.
  • The costs for upgrades, updates, new functionality, training, changes in processes or application all adds up.

Future Proof

Compliance and sustainability can be a challenge for payroll teams, with costly consequences.

Advantages of Outsourcing Payroll

Resource Allocation

You don’t have to worry about your employee(s) calling in sick, wanting to take a vacation, requesting maternity or compassionate leave, or worse, resigning and you then having to fill the skill gap.

Avoid Payroll Technology advancement costs

You need not worry whether you have the latest upgrades and version of HR or what it’s going to cost.

Offer Direct Deposit

Direct deposit eliminates time-consuming and error-prone paper handling, the need to reconcile individual payroll checks every month, plus it reduces the risk of fraud by eliminating the use of paper checks that could be altered or counterfeited, and employee bank account numbers remain confidential to your financial institution or payroll provider.

Worry vs Peace Of Mind

No headaches, no hassles: the pain of payroll processing is gone.  You provide the basic information and we take care of the rest – error-free payroll, tax filings and payments – on time.

Outsourcing payroll provides the expertise, continuity and peace of mind to make your life easier and free you up (business owner, human resources and/ or accounting personnel) to concentrate on your core business so you can work more on strategic tasks that affect profits.

Most Common Payroll Problems Solved

  • Time Management; track Time and Attendance in real-time.
  • Leave Management; changes reflect immediately. Holiday, and other leave, termination and other delays; payments made are generally reflected in terms of business working days.
  • Benefits Management; greatly improved. Updates are done in groups; class codes or per category rather than individually.
  • The Human Resource Information System; provides up-to-date information and reports anywhere, any time.
  • Payroll Audit; at least once a year to verify your process is up-to-date and legally compliant.
  • Human Error; greatly reduced, if not eliminated.
  • Security Issues; eliminated.
  • Employee Productivity; employees are freed up to do more strategic, value-added tasks.
  • Payroll Payment On Time; not dependent on in-house staff availability.
  • Correct Tax Calculations; not open to misinterpretation.

Tailored Payroll Solutions

Payroll can be outsourced to handle the calculations for wages, taxes, employee benefits, bonuses, loans, allowances, insurance, medical aid, pension and other contributions, pay-check processing, and ensure accuracy of deductions made to statutory and voluntary authorities to ensure compliance. This may include the recording of time and attendance, leave records if required.

Payroll Software vs Payroll Outsourcing

Even though Payroll Software has come a long way, there is still manual work that must be done to customize it to a company’s needs; integrate it with benefit plans, ensure compliance, train staff, keep up with updates, upgrades and downloads plus integrate with other software or applications.

Payroll Software Cons

  • Payroll software often lacks 100 percent automation capability.
  • Payroll software is often limited in its ability to provide truly custom reports.
  • Payroll software may not integrate seamlessly with benefits and retirement, so staff have to calculate this manually at payroll time.

Payroll Outsourced

No worries: Outsourced systems are fully automated and integrated.

Human Resource Information System (HRIS)

Human Resource Information Systems have become one of the most important tools for most businesses.

The HRIS provides huge productivity gains; it allows companies to cut costs and offer more information to employees in a faster and more efficient way.

Employer Access:

Employee Access:

  • Review Checks
  • Online Benefits Enrolment/ Review Benefit Information
  • Update Personal Information
  • View Corporate Documents (limited by user access codes)

Disadvantages of Manual Payroll

  • Manual payroll calculations need to be done for each time period and prone to error; basic pay, allowances, bonuses, deductions, medical aid, pensions, and IT Declarations.
  • Editing and maintaining employee records and data can be time-consuming.
  • Printing, signing, and distributing paychecks or pay stubs.
  • Computer software and program maintenance.
  • Training and support.
  • Keeping up with changes in tax rates/laws.
  • Preparing and remitting payroll taxes and returns to government agencies.
  • SARS and UIF queries.
  • Producing consistent, reliable reports for in-house, management and accountant use can be difficult.
  • Generating reports for government and/ or legal requirements can be labour-intensive.

Outsourcing has huge time/ productivity/ cost savings

The Tax Shop Payroll Solution

We have your best interests at heart.
We provide Professional Payroll Consulting, Expertise, Systems, Software and Services.
We use the latest cloud technology and top of the range software to make your life easier.
We offer a long-standing business partnership because we work together – your success is our success.
We make the conversion process as easy as possible with minimum cost, time and effort.
We provide HR assistance, advice and outsourced HR function solutions.
We tailor solutions to meet your specific requirements and needs.
We give comparative cost estimates.

Outsourced Payroll usually costs less than a full-time employee, and its more reliable