Tag Archive for: payroll compliance

Save 25% on Payroll Setup – April & May Only!

Now’s the perfect time to outsource your payrolls and save. 

Outsourcing your payroll to MRBM Consultants means more time to focus on your business while we handle the admin. For a fixed monthly fee, we’ll manage your payroll obligations—accurately, on time, and fully compliant. It’s a cost-effective, hassle-free solution that offers peace of mind. 

Switch to our Payroll Bureau service by 31 May 2025, and you’ll receive: 

✅ 25% off the setup fee for your company. 

✅ 15% off Workman’s Compensation registration for new companies. 

Don’t miss out – Take advantage of our Bureau offer today!

Offer valid until 31 May 2025. T’s and C’s apply.

info@mrbm.co.za  /  031 818 9030.

Financial Year-End Checklists – Stay Ahead!

With the financial year-end around the corner, staying organised is key.

We’ve put together essential checklists for both accounting and payroll to help you wrap up the year smoothly.

ACCOUNTING YEAR-END CHECKLIST:

✅  Reconcile bank accounts and clear outstanding items

✅  Review and adjust provisions, accruals, and bad debt write-offs

✅  Finalise fixed asset registers and apply depreciation per SARS guidelines

✅  Ensure all VAT 201 submissions and reconciliations are up to date

✅  Reconcile customer and supplier accounts and follow up on outstanding payments

✅  Review customer accounts for any bad debts which require writing off

✅  Prepare for annual financial statements and tax return (IT14) submission

✅  Back up all financial records and reports for audit and compliance

PAYROLL YEAR-END CHECKLIST:

✅  Process final earnings, bonuses, and deductions for the year

✅  Verify employee records, tax numbers (Income Tax Reference Number), and banking details

✅  Review and reconcile leave balances, overtime, and allowances

✅  Back up payroll records and reports for compliance

✅  Ensure all UIF, PAYE, and SDL payments (EMP201s) are up to date

✅  Submit EMP501 reconciliation via eFiling or EasyFile before the SARS deadline

✅  Generate IRP5s / IT3(a)s and distribute to employees

 

If you’re ready to optimise your solutions, we’d love to hear from you.

info@mrbm.co.za  /  031 818 9030.

Reasons to outsource accounting and payroll

As a business owner, managing finances and payroll can be some of the most crucial and challenging aspects of running your organisation.

While many small businesses start by handling their accounting and payroll internally, there often comes a time when outsourcing a professional becomes essential for sustainable growth and financial health.  

Here are some top reasons to consider outsourcing these services for your business:

Complex Tax Requirements

An experienced accountant can navigate evolving tax laws, maximise deductions, and prevent costly errors in tax compliance.

Time Savings

Outsourcing accounting tasks frees up time for core business activities, facilitating business growth and customer service.

Financial Planning and Analysis

Accountants provide insights into cash flow, profitability, and financial trends, aiding informed decision-making and strategic planning.

Compliance and Regulation

Accountants ensure accurate financial statements that meet legal requirements, minimising the risk of penalties or audits.

 

Business Growth Support

Accountants offer guidance on budgeting, forecasting, and financial strategies to support business expansion and secure financing.

 

Payroll Management

Outsourcing your payroll to MRBM streamlines processes, ensuring accurate payments while effectively managing tax withholdings and reporting.

 

Expertise in Accounting Software

Proficient in tools like Sage, accountants optimise software usage for real-time financial insights.

 

Risk Mitigation and Financial Advice

Accountants identify and mitigate financial risks, offering objective advice on investments and cost-saving measures for overall financial health and peace of mind.

Outsourcing your accounting and payroll may significantly enhance your business’s financial management, providing expertise, efficiency, and strategic support tailored to your business’s needs.

At MRBM Consultants, we are committed to supporting your business, whether you choose to leverage our powerful Sage accounting software independently or in collaboration with professional services.

Together, let’s navigate your business’s unique financial journey efficiently and strategically.

Get in touch for more info: info@mrbm.co.za or 031 818 9030.