Finance and compliance: the assessment

Approving changes the PAYE tables

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

Approving sends the EMP201 to SARS

Pays the employees from your bank account

Deletes the draft payslips

Locks the payslips and posts the payroll journal to the ledger

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

Delete the run and start again

Edit the posted payroll journal by hand

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 invoices you issued

Your bank balance

The expenses and supplier bills you captured

The return cannot be downloaded on a weekend

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

Reconciling sends the return to SARS

The balance sheet

The income statement

The trial balance

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

Your VAT return has been filed

Every figure in your books is right

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

So SARS can read it directly

So the period is locked against changes