Still doing Payroll calculations on Excel?
Excel may seem to be an easy way to do a payroll,
but is cumbersome and error prone when compared to a structured payroll system.
Reasons to use SuperPay over Excel
Manually create formulas therefore the risk of errors with formula = Possible trouble
Can’t always see errors in Excel only when SARS comes calling
According to structured rules
Manually create IRP5 in Easyfile
and do SARS recons after adding together
the payslips or the monthy payrolls
EMP201 report for the year
to IRP5 reconciliation process,
& exporting data for Easyfile
Manually create payslips each MONTH
Cumbersome and error prone process
Bulk email payslips as a PDF with a password
Extracting information for reports is time consuming. Reports creation cumbersome
Run reports with a click of a button, or export to Excel for manipulation, if required
How does Payroll Work?
Load Employee Data & Payment details
Enter all the personal information on your employee in to the payroll system, their salary or hourly wage rate
How they are paid (EFT, Cash or cheque) and their banking details
Automatically calculate & deduct
The payroll system will do all the calculations and deductions according to rules, for that specific period.
Payslips (a statutory requirement) are reports available after preparing the payroll, and can be emailed as a PDF with a password on it.
A Leave system to record days taken and automatically add days by rule, to track leave due
Run Reports and verify
Run reports using the static employee data and the dynamic monthly information in the system, for example generate a :
Transfer list of all employee being paid by EFT
List of Cheque or Cash Payments, incl a list of the notes and coinage required
EMP201 reports to complete the SARS efiling reports
Provident / Pension Fund deduction report
Roll the Payroll forward into next month
The payroll program will carry forward all relevant figures to the Year to Date totals and prepare for input of the next month. There are no need to calculate or do anything, but to click on a button
Medial aid scheme deductions
Medical Tax Credit
Taxpayers who belongs to a medical aid scheme is entitled to a medical scheme tax credit, set at a fixed amount per month per main member (R+-250)and a lessor amount for each dependent.
The tax credit is applied after calculating tax from the taxable income, in the same way as the primary rebate
Tax Payer over 65 are treated this way as well, from the 2014.5 tax year
Due to the many changes to the medical deductions / credits each and every year, there is some confusion, and many of the articles are at some or other point correct and also out of date at the same time.
If your medical expenses exceed a certain amount – 4 times the tax credit allowed in a tax year but limited to 7.5% of the taxable income – and 25% of the amount is allowed as a deduction.