The most common area where fraud takes place in companies is in the payroll division.
There are various reasons for this tendency and we name just a few:
- Companies do not have clear policies with regards to time sheets etc.
- No clear audit trail from employee time sheet to payout
- No effective controls with regard to overtime etc.
- Poorly implemented policies/legislation
- Absence of payroll reports – planning, budgets etc. Inefficient payroll administrators/clerks
At HR City we make it our business to run your payroll professionally, with all the checks and balances in place.
Why does HR City offer this service?
HR City’s purpose is to help companies manage their employees by providing a superior payroll administrative service. Market trends are showing that many businesses are evaluating the administration of their payroll and have found that outsourcing their payroll is highly cost effective. By using HR City’s Payroll Outsourcing Solution, you can utilize your staff to concentrate on core business activities.
We will ensure that you:
a) Comply to legislation
Upon request we will survey and advise you on your current system. There is no need to change something that works!
- We use SARS approved VIP system – various benefits
- IRP 5’s, IT 3’S etc to be submitted electronically
- Electronic banking Payroll reports – hard copies/electronic
- In-depth needs analysis to ensure that you get exactly what you expect
- High-level review of remuneration structures to ensure compliance with tax legislation and other statutory requirements
- Administration of your salaries bank account
- Maintenance and reconciliation of medical aid, pension and provident fund payments
- Maintenance and reconciliation of other third party payments including garnishee orders and staff loans
- Leave administration
- Preparation of electronic transfer files for employees’ net salaries
- Integration with your general and costing ledgers
- Costing of salary related provisions
- Annual preparation of IRP5 and IT3 certificates
- Using your existing payroll documentation
- Tailoring of output reports to match your financial requirements
- Accurate data entry and ongoing maintenance of results in improved reliability in the content of your personnel database
- Flexibility of HR City’s services to suit your needs
- We discuss your requirements and then formulate a service that is individually tailored to best suit your needs
- Our continuous feedback process ensures that we keep in touch with the growing needs of your business
- We completely eliminate the risk of handling large amounts of cash for payroll purposes
- All employees are assisted to open a bank account and all salaries and wages are done electronically
Flexibility and peace of mind
- Input is processed on the VIP Payroll System
- A technical expert at HR City reviews the processed payroll
- Summary reports are forwarded to the contact person at your company to be signed off
- As soon as we receive the signed off reports your company is supplied with a breakdown of the amounts to be transferred into your salaries bank account
- An electronic ACB/hardcopy file is created and forwarded to your company
- This file can be imported to transfer net salaries directly into employees’ bank accounts (Only for labour contracts)
- Medical aid and pension reconciliations, as well as reconciliations for other applicable external payments are done
- Payslips are printed for each employee and are distributed to the designated contact person at your company
- HR City supplies you with hard copy and/or electronic reports that are customized to your company’s needs
- Your company receives a schedule of all payments to be made to external parties