Payroll administration is an important part of any business – no matter how small.
It’s most likely any company’s largest expense, and the most time-consuming work performed each month. Even the most meticulous and experienced professionals find that payroll can be a challenge and, with the increasing pressure and responsibility of employers in all sectors, many businesses have opted to outsource their monthly payroll administration to payroll specialists as it offers an attractive and valuable alternative to in-house processing.
Our dedicated team provides a pool of expertise with whom you can consult when needed. This will leave you and your staff free to concentrate on servicing your clients and all your stakeholders.
CR van Wyk Payroll Services was initially registered to service in-house clients in 2008. From humble beginnings with only a few payroll clients, the department has grown into an independent, fully operational part of the CRVW Group, providing payroll administration services to clients in Namibia and South Africa.
Our internal structure and policies provide clients with secure and accurate data as each payroll
- Processing monthly payroll on Sage VIP Payroll System
- Calculation of cost-to-company and net salary packages
- Calculation and recording of overtime, commission, bonuses and all other earnings as required
- Calculation and deduction of PAYE, Social Security, Medical Aid, Pension and Union contributions
- Record of all employee advances, garnishees and loans accounts
- Calculation of termination and retrenchment packages
- Complete leave administration i.e record of leave days and calculation of payouts
- Generation and provision of
electronicbank payment file
- Provision of detailed payroll reports
- Fast and easy access to current and/or history payroll data
- Official returns to statutory bodies (Namibia)
- Leave summaries
- Provision of secured printed and electronic payslips
- Payment of employees and related payroll cost on behalf of employers
- Employee salary transfers
- Payments to all statutory bodies and third-party service providers i.e Medical Aid, Pension Funds etc.
Compliance with Governing Bodies
- Acquisition of Good Standing Certificates at all statutory bodies
- Registrations and/or terminations at all statutory bodies in Namibia (PAYE, Social Security and NTA
- Calculation and submission of monthly returns to below statutory bodies
- Ministry of Finance –
PAYE ,Social Security Commission and National Training Authority – VET Levy
Financial Tax Year End
- Calculation, printing and submission of PAYE5 (tax) certificates
- Annual reconciliation of PAYE and submission to Receiver of Revenue
Time is money – If you calculate the time it takes to correctly process payroll you’ll be surprised how much the labour costs.
Apart from calculating the hours worked, other earnings like commission and bonuses as well as deductions including PAYE and Social Security should be calculated, and record of all leave transactions should be kept to ensure leave provisions are accurate and correctly paid when required. Following the initial processing, relevant and accurate reports should be printed and payslips must be distributed.
Although you might consider outsourcing an extra cost you don’t want or need, it can actually save you money on overheads.
You won’t need to pay in-house employees to manage payroll, including their benefits, vacation, time, and other benefits/perks and you also won’t have to pay for software or supplies. Additionally, payroll mistakes will be eliminated, so you won’t have to worry about paying costly fines and penalties.
When you outsource your payroll, you eliminate errors that would normally occur if you were processing payroll in-house. You won’t have to worry about a tarnished reputation among your workforce for incorrect paychecks and you’ll be assured of your firm’s good standing with all relevant statutory bodies
Access to Technology
On your own, accessing the latest software and technology can be challenging and the annual licence fees and updates of these programs can be quite costly. Outsourcing your payroll ensures you have access to the best technology to process payroll quickly, efficiently, and correctly.
Security and Confidentiality
Payroll needs to be kept secure to protect sensitive employee information. Should your offices ever get broken into or your systems get hacked, identity theft could be a real problem. Payroll fraud is another concern.
You have to be prepared for these risks if you process payroll in-house. The cost of keeping that data secure can get expensive. However, when you engage payroll processing services, those security measures will be put in place by your provider.
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Auditing and Assurance
29 Feld Street, Windhoek, Namibia
Monday - Thursday - 07:30 to 17:00
Friday - 07:30 to 13:30
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