Payroll Calculations

Description

****Please note that this course is based on South African Tax****

Much of the payroll process begins with calculating gross salary — whether hourly, weekly, fortnightly or monthly — and then subtracting deductions and taxes from that amount to determine the final payment that employees receive in their paycheck. These gross wage calculations and subsequent deductions are dependent on several factors in each case depending on the law and rules.

This session will provide the necessary insights on how payroll calculations are done – even if software is used in calculating payroll, it is very beneficial for the person entering the numbers, to know how these calculations are performed. Some calculations need to be done, before it can be entered into the payroll system. A good understanding of employee taxes are vital for payroll administration.

Topics Discussed:

• How to calculate:

• Pro Rata Salary, Leave and Tax

• Daily and Hourly Rate

• Gross Income

• PAYE, UIF and SDL

1. Subsistence Allowance

2. Medical Aid

3. Retirement Annuities

4. Unpaid Leave

5. Long Service Cash Award

6. Bonus

7. Overtime

8. Commission

9. Arbitration Award

10. Allowances (Travel and Reimbursive Travel)

11. Accommodation

12. Advances and Loan Repayments

13. Expense Reimbursements

14. Uniform Allowance

15. Right of use of an asset

• How to keep an excel worksheet as proof of how calculations were done

• Reconciling your payroll for the year on excel

• Asset Acquired at less than OMV

• Leave schedule – according to hours worked

• Low interest or interest free debt

• EMP501

• COIDA ROE

All Included:

• Recording of the session

• Q&A with the presenter

• Downloadable course material

• Certificate of training

• Optional assessment

• 3 Verifiable CPD Points - SAIT Accredited

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About the Presenter:

Ruzel van Jaarsveld

She has over 23 years financial and bookkeeping experience, working with many industries and corporate environments, with extensive knowledge and practical application of trial balance, payroll, VAT, PAYE returns, Inventory control, Management Accounts, E-filing and Procedures of Importing and Exporting.

She is a seasoned appointed facilitator with Biz Facility, and for numerous years has been presenting various national practical financial workshops to business owners and corporate financial staff.

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