How do I reconcile the EMP501?

How do I reconcile the EMP501?

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

1. Generate the EMP501 Report under the Legislative section on the Classic Reports screen.

      Navigate > Reports > Reports > Classic > Legislative

      

2. Generate the EMP201 Report under the Legislative section on the NextGen or Classic Reports screen.

      Navigate > Reports > Reports > NextGen / Classic > Legislative

      

3. Once both Reports are generated, reconcile the consolidated EMP501 against the monthly EMP201's. The EMP201 reports are used to make your monthly payments over to SARS.

 For any discrepancies identified between the EMP501 and monthly EMP201 reports, generate the reports listed under 'Important Reports to Print for the Bi-Annual Submission’ to assist with your EMP501 reconciliation process.
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​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 are 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.