How do I reconcile the EMP501?

How do I reconcile the EMP501?

Reconciling the EMP501 is the fifth step in the e@syFile™ Employer Checklist.

Step 1: Generate the EMP501 under the Legislation section on the Classic Reports screen.

      Navigate > Reports > Reports > Standard (Classic) > Legislative

      

Step 2: Generate the EMP201s.

      Navigate > Reports > Reports > Standard > Legislation

      

Step 3: Once generated, reconcile the consolidated EMP501 against the monthly EMP201s.

      Note! EMP201s are used to make monthly payments to SARS.

      

      

Should any discrepancies be identified between the EMP201s and consolidated EMP501, generate the reports outlined in Important Reports to Print for the Annual Submission FAQ to supplement the EMP501 reconciliation process.

 

These discrepancies could be related to - 

  1. Payments were made on the 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.
  1. An interim run exists and has not balanced or made payment to SARS.
  1. Take-on run financial data is not balancing to the EMP501.

 

It is recommended to generate the affected months’ Payroll  Reconciliation and/or Component Variance reports and reconciles the monthly financial data and declaration to SARS for your PAYE, SDL, UIF and ETI.

 

If the EMP501 does not reconcile with the EMP201 report, contact support@payspace.com. Ensure add all the reports used in the reconciliation process to enable further investigation. (include the frequency and the month in which could not be reconciled).


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