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  • News: Accountant gets caught for alleged R5 million fraud
  • According to a recent News24 article, a former official of the South African Revenue Service (SARS), was recently expected to appear in the Pretoria Magistrate's Court on charges of VAT fraud amounting to more than R5 million. In a statement, SARS said that they arrested the chartered accountant from her place of work in Centurion. A spokesperson went on to say that the fraud went on for a peri... ››› more
  • [02 December 2015]
  • Use these 4 internal controls to prevent payroll fraud
  • If your business manages its own payroll, then your payroll is at risk of falling victim to errors, and even fraud! The four major examples of payroll fraud include: · Timesheet fraud: When an employee says they've worked more hours than they say they have, and you pay them for this; · Ghost employees: When an employee adds false employees to the payroll. This then leads to ... ››› more
  • [24 November 2015]
  • 36 000 ghost employees paid billions in salaries - don't fall victim to payroll fraud
  • The North West government revealed they paid R19 billion in salaries which included 36 000 ghost employees. All these 'employees' received a promotion and a raise! And to make it worse, salaries accounted for over half of the province's expenses! Now, your salaries might not come to billions but, can you afford to waste any of your hard-earned cash on fictitious employees? I didn't think so!... ››› more
  • [30 September 2015]
  • Four benefits of keeping your payroll in-house
  • Payroll software has made inroads in the small business market. This is because it gives such business owners full control over how their employees are paid. Staffing a payroll professional or simply using a programme to do it yourself offers many benefits. Let me teach you about a few... Four reasons to manage your own payroll #1: You'll have instant access to your data If you manage your o... ››› more
  • [03 August 2015]
  • Small business? Then consider these three benefits of outsourcing your payroll
  • Large companies have the resources to sustain large payroll divisions. Smaller business usually don't. Therefore, they look elsewhere for help. Here are some of the top reasons why small businesses outsource their payroll... #1: Compliance and accuracy Payroll mistakes are common. Many small businesses find it almost impossible to stay on top of complicated tax code changes. This easily leads ... ››› more
  • [31 July 2015]
  • Protect your financial records. How to deal with unauthorised access and manipulation
  • When it comes to protecting your accounting records, the risks you may encounter are found in different areas, from unauthorised access, manipulation of financial information (i.e. when someone makes unauthorised changes to the information in the accounting records) to loss of financial information. You need to protect your financial records protected against these risks! And today we're going t... ››› more
  • [09 April 2015]
  • Medical tax credit changes. Here's how they will affect you and your payroll!
  • According to the Budget announced on February 25, 2015, medical tax credits if you are a member of a medical scheme will increase from R257 a month to R270 a month for the main member and the first dependant. That's a 5.05%percent increase. ional beneficiary will increase from R172 to R181 a month – an increase of 5.23%, as iol.co.za states. But do you know how the medical tax credit changes ... ››› more
  • [03 March 2015]
  • Three important things you should know about Budget 2015
  • Today new Finance Minister Nhlanhla Nene is presenting his first budget to parliament. The actual context should interest us as several aspects are expected to influence South African payrolls and employees. Rob Cooper, Director of Legislation at Sage VIP Payroll & HR, explained for bizmag.co.za that during his medium-term budget policy statement, Nene came across as a no-nonsense Finance Mini... ››› more
  • [25 February 2015]
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