As each country has different payroll practices, taxation laws, and labour laws, each country will fill in different forms. You will typically be able to find out which reports are required by contacting the governing revenue service; for example, the governing revenue service of South Africa is SARS.
You can also choose to consult with one of our payroll advisors as they know exactly what is required in an African country.
Nonetheless, there are certain payroll reports that are commonly required across many countries, which may help you to establish a foundation for payroll compliance. We have compiled a list of these below:
Company Payroll Reports
A company payroll report will be able to provide you with detailed information on the payroll expenses within your business.
It is essential to consistently and punctually complete these reports for each designated time frame. By comparing these reports, you can gauge the estimated monthly funds required to fulfil your payroll obligations.
Employee Payroll Reports
This report is often also referred to as an employee earnings report. There should be an employee payroll report for each individual employee.
Usually, these reports contain details such as the employee’s wages, tax withholdings, and various allowances and deductions. It is important that the respective employee has access to their own payroll report, as they are entitled to review and receive it.
Payroll Tax Reports
These reports indicate what your company’s employees’ compensation consists of. These documents will typically be completed every quarter or on an annual basis.
On completion, you need to submit these reports to the revenue service governing your country. They will then assess and verify your business’s compliance with the payroll laws applicable to your country.
Certified Payroll Reports
Government contractors in numerous countries are obligated to furnish a certified payroll report, which varies in terms of frequency depending on the respective governing body.
These reports may be mandated on a weekly, monthly, quarterly, or annual basis. Their purpose is to disclose the payroll expenditures of the contractor to the relevant revenue service or governing authority.
Time Tracking Reports
If your employees are obligated to complete daily time sheets, these reports become essential. Time tracking reports allow you to assess the amount of overtime worked by an employee within a month as well.
Payroll reports can be confusing, click on the link below and contact our team of experts to see how we can help: