Finance and compliance: the assessment

Approving sends the EMP201 to SARS

The EMP201 reads approved runs only, so a draft run is left out

Approving changes the PAYE tables

Deletes the draft payslips

Pays the employees from your bank account

Locks the payslips and posts the payroll journal to the ledger

Edit the posted payroll journal by hand

Reopen the run on Pay History, correct it, then approve it again

Delete the run and start again

Ledgr, automatically at the end of the period

Ledgr, when you tap Note as filed

You do, on eFiling, using the figures you downloaded

The expenses and supplier bills you captured

Your bank balance

The invoices you issued

Unreconciled bank lines and missing bills are what make a VAT201 wrong

The return cannot be downloaded on a weekend

Reconciling sends the return to SARS

The income statement

The balance sheet

The trial balance

Your VAT return has been filed

Only that debits equal credits, since a wrong posting can still balance

Every figure in your books is right

So SARS can read it directly

So a PDF in someone's inbox still says what it covers

So the period is locked against changes