Essential Reports needed for Annual EMP501 Submission

The Annual EMP501 Reconciliation Submission period is from 1 April 2024 to 31 May 2024 (also called IRP5).

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These submissions generate employee tax certificates for the period 1 March - 29 Feb.

A guide to the reports needed for the IRP5 submissions:

Step 1: Balancing EMP201 and EMP501 Reports: To begin, generate the EMP201 Report and EMP201 Breakdown Report from Reports > Reports > Standard (Classic) > Legislative. Additionally, generate the EMP501 Report for the selected tax year.

Step 2: Identifying Discrepancies: Next, identify discrepancies between EMP201 and the consolidated EMP501 by generating the following reports: For ETI imbalances, navigate to Reports > Reports > Standard (Classic) > Legislative and generate the EMP501 ETI Breakdown Report and ETI Take On report. For Tax, UIF, & SDL imbalances, navigate to Reports > Reports > Standard > Payroll and generate the Component Variance Report and Payroll Reconciliation Report. For employee biographical information, navigate to Reports > Reports > Standard > HR and generate the Dynamic Employee Details and New Engagements and Terminations reports.

Step 3: Generating Test and Live CSV Files: Once EMP501 reconciles with monthly EMP201s, generate Test and Live CSV Files per frequency for the correct submission period. Navigate to Reports > Tax Certificate Run to generate the Test CSV File. Upon successful validation, export the Live CSV File accordingly.

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These reports will streamline the EMP501 reconciliation process and ensure accurate submissions.

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