10 Affordable Alternatives to a Salary Raise
Many companies tend to offer salary increases right after a positive annual performance appraisal. While rewarding employees is great to keep them engaged and encourage high calibre performance in the future, not all organisations can keep up with yearly salary increments for a good number of their staff. This fact has become even more true […]
6 Legal Ways to Reduce PAYE Tax in Nigeria
Every government owes its citizens the responsibility of providing basic infrastructure like electricity, affordable housing, a functioning healthcare system, a transportation system, etc. In the same way, citizens owe the government a piece of their earnings to support the delivery of these responsibilities. This is a compulsory, legally imposed obligation. For employees, the well-known tax […]
How to Prevent HR Software Misuse
In executing their functions, the HR unit inevitably handles a lot of sensitive employee and company data. This HR data ranges from information like employees’ bio-data, background check information, medical records, bank account number, and the company’s payroll data, among others. Depending on how your data is stored, here are a few steps you can […]
Payroll Software in Tanzania: Must-Have Benefits
Automated Payroll software in Tanzania has its benefits. Regardless of the size of a business, manual payroll computation is quite time-consuming. You’re also at risk of making errors like entering incorrect data, leading to miscalculation and attracting non-compliance penalties. This and many more are some of the reasons businesses are switching from manual to automated payroll solutions. […]
Must-Have Benefits of an Automated Payroll System
Regardless of the size of a business, manual payroll computation is quite time-consuming. You’re also at risk of making errors like entering incorrect data, leading to miscalculation and attracting non-compliance penalties. This and many more are some of the reasons businesses are switching from manual to automated payroll solutions. There is no doubt that payroll software […]
Payroll Best Practices For Small and Medium-Sized Businesses
While we all know the importance of payroll to every business, managing it comes with its challenges that can be unique to the organisation or its industry. Some payroll challenges faced by small and medium-sized businesses include dealing with manual payroll processing, keeping up with regulatory changes, managing tax compliance, payroll errors and several other issues. To experience a […]
The Ultimate Beginning-Of-Year Payroll Checklist
Running payroll is a continuous task that all organisations must engage in. In the never-ending cycle of payroll management, HR and payroll managers go through the process of calculating payroll, making necessary remittances, and disbursing salaries. Every payroll manager knows the possible mistakes that could happen in the process of running payroll. A slight error in a spreadsheet can […]
Implications of the Finance Act 2020 on Personal Income Tax
The Finance Act, 2020 was recently published and we’ve noticed some key elements that will affect how personal income tax will now be computed. Here are the sections of the Act that affect Personal Income Tax: Section 29 of the Finance Act 2020, which states: “Gross income means income from all sources less non-taxable income, […]
Top Five Payroll Challenges and how to Overcome Them
Processing payroll is a function that touches the responsibilities of the HR and Finance departments, and depending on the organisation, either department could be placed in charge of it. For payroll specialists, finance, and HR personnel who work in this capacity, here are some of the challenges faced as they do so. Balancing payroll-related responsibilities […]
