Tips for employer tax filing in 2010
As the 1st of April approaches, business owners and their accounts departments are scrambling to get their tax filing documents in order. It's critical that your books are meticulously presented in order to speed up the process and prevent issues from arising at the last minute.
QuickBooks financial software offers accounting solutions for small to medium size businesses that can help them to keep track of their finances throughout the year, thereby significantly reducing the amount of time it takes to compile documents at tax filing time.
There are several other things that you can do to reduce the stress of tax filing. Continue reading for helpful tax filing tips for 2010.
Tips for easy tax filing
- Read and understand all forms before filling them in
Tax filing can be complicated, especially for business owners who are not trained accountants, as there is much information that needs to be provided as well as forms that must be filled in and documents that must be provided. Before attempting to fill in the relevant forms, read them carefully and ensure that you understand exactly what is required of you. This is especially important for small business owners who do their own bookkeeping. If you encounter a question or section that you do not understand, consult a professional accountant or an adviser at the South African Revenue Service. - Record all relevant information
Certain employee information is required for tax filing. It’s recommended that you record each staff member’s information when they begin their employment to avoid having to find out every employee’s details in a short period of time. Information that you’ll be required to provide for each employee includes:
- surname and first names
- ID number
- passport number and the name of the country in which it was issued
- date of birth
- income tax reference number
- contact number
- residential address
- bank account details
QuickBooks payroll software includes an employee information recording feature that can help business owners capture their employees’ information and store it effectively, ensuring that this information is documented and easy to access during the tax filing process.
- Calculate PAYE and UIF on individual payslips and the total
Take all of the payslips from the past year and add their totals together. Then calculate the PAYE and UIF on this final total. It should equal the total of each payslip’s individual PAYE and UIF amounts. Once you are certain that your totals are accurate, you can submit your tax filing.
Choose QuickBooks for your tax filing
QuickBooks payroll software is designed specifically with South African tax laws in mind. By implementing a payroll solution from QuickBooks, you can calculate your tax accurately and quickly.
Peruse our selection of payroll solutions, including Quick Payroll and Quick Payroll Lite.
QuickBooks SimpleStart - for new and home based business
The simplest way to manage and track money going in and out of your business.
QuickBooks Pro - manage your business accounts simply and easily
Manage your business accounts simply and easily.
QuickBooks Premier - fast and easy advanced accounting
Fast and easy advanced accounting.
Quick Payroll is designed to meet the fast growing needs of dynamic South African SMEs.
It simply manages all aspects regarding payroll, including payroll calculations, leave registers, report writing, tax year-end, and more. Quick Payroll interfaces seamlessly with QuickBooks accounting software, which means your general ledger journals will automatically update.
Our solution automatically provides new tax law or statutory upgrades as they arise, keeping you on the payroll cutting edge. What is more, our Quick Payroll is so flexible; it can be used in any industry sector, injecting value into your company, employee and client relations across the board.
Quick Payroll Lite is designed to meet the fast growing needs of dynamic South African SMEs. It simply manages all aspects regarding payroll, including payroll calculations, leave registers, report writing, tax year-end, and more. Quick Payroll Lite interfaces seamlessly with QuickBooks accounting software, which means your general ledger journals will automatically update.
Our solution automatically provides new tax law or statutory upgrades as they arise, keeping you on the payroll cutting edge. What is more, our Quick Payroll Lite is so flexible; it can be used in any industry sector, injecting value into your company, employee and client relations across the board.
Quick Payroll Startup is designed to meet the fast growing needs of dynamic South African SMEs. It simply manages all aspects regarding payroll, including payroll calculations, leave registers, report writing, tax year-end, and more. Quick Payroll Startup interfaces seamlessly with QuickBooks accounting software, which means your general ledger journals will automatically update.
Our solution automatically provides new tax law or statutory upgrades as they arise, keeping you on the payroll cutting edge. What is more, our Quick Payroll Startup is so flexible; it can be used in any industry sector, injecting value into your company, employee and client relations across the board.
