How do I reconcile the EMP501?

How do I reconcile the EMP501?

Alert
This feature is available on all Deel Local Payroll powered by payspace editions

1. Generate the EMP501 report from the Legislative section on the Classic Reports tab.
Navigate > Reports > Reports > Classic > Legislative

2. Generate the EMP201 reports from the Legislative section on the Standard reports screen.
Navigate > Reports > Reports > Classic > Legislative
3. Once exported you can reconcile the EMP501 report against your monthly EMP201 reports. The EMP201 reports are used to make your monthly payments over to SARS.

If there are discrepancies identified between your EMP201 and your consolidated EMP501. Below are reports to assist with identifying imbalances in Financial Totals.

ETI Imbalances
Navigate > Reports > Reports > Classic > Legislative
  1. EMP501 ETI Breakdown Report
    Provides a breakdown of ETI for all employees contained in the EMP501 file.
  2. ETI Take On
    Report of all employees with an ETI Take-on or ETI adjustment.
TAX, UIF & SDL Imbalances
Navigate > Reports > Reports > NextGen / Classic > Payroll
  1. Component Variance Report
    P    rovides a comparative, month to month or run to run listing of all component figures for a selected period per employee and includes a difference column.
  2. Payroll Reconciliation Report
    Provides current figures or MTD figures of all employee’s components on the payslips
Discrepancies could be caused by:
• Making payment on your monthly EMP201, using a copy with a “DRAFT” watermark. This occurs when the related run is not closed before generating the EMP201 for payment to SARS.
• If you have an interim payroll run with financials, but no payments included in your EMP201 submission to SARS for that month. 
• Your Take on run financials is not included in your EMP501.
• It will be advisable to generate the affected months’ Payroll Reconciliation and/or Component Variance Reports and balance your monthly financials and declaration to SARS for your PAYE, SDL, UIF and ETI.
• If you are unable to balance your EMP501 to your monthly EMP201 Reports, contact support@payspace.com. Include the frequency and month, and your financial reports exported for the month that cannot be reconciled.