MAZARS NIGERIA ACCOUNTING AND OUTSOURCING SERVICES
As businesses grow and expand, managing staff on payroll becomes increasingly complex and time-consuming. Failure to pay staff appropriately or maintain payroll confidentiality could put you at risk of financial penalties and even more critically, loss of staff goodwill.
We at Mazars Nigeria will work with you to eliminate these risks, by managing your payroll efficiently, effectively and confidentially, thus helping you concentrate more on your core business objectives.
Payroll Outsourcing as a Subject Matter
Think about all the time, spent on important items such as salaries, benefits, payroll tax computation, payroll confidentiality, and reports. All these and more would usually take time which could be re-invested in other activities that create value for your business
Even with the most honest and professional employees in the world there is always a risk of theft, record tampering, loss of confidentiality amongst a myriad of issues. We completely handle these risk factors.
Whatever the timeline is for benefits and compensation structure within your organization: Weekly, fortnightly, or monthly pay cycles, our experienced team ensures salaries are paid timely, meeting set deadlines with a high level of accuracy, consistency, and professionalism.
Core Benefits That We Bring
- Services which are flexible and scalable, allowing you to adjust the level of service that is most appropriate to your needs, both now and in the future.
- Knowledgeable experts who will ensure you always remain compliant.
- Increase in productivity and efficiency of employees and organization
- Avoidance of payroll tax penalties, inherently saving your business inefficient costs.
More on Our Payroll Services:
Beyond our local expertise, we bring with us a diverse team with regional and global HR functions located internationally, as well as the ability to process payroll with time and attendance data, ensuring we meet your set deadlines no matter how tight they may be.
Mazars has significant experience in the implementation of payroll. During this critical period, our responsibilities will be to:
- Set up the employee database
- Set-up procedures
- Test the payroll process
- Eliminate errors and incorrect settings
- Perform a sample test (if required)
PAYROLL SET-UP AND COMPLIANCE
This includes the initial set up of payroll, monthly payroll processing, determining how salaries should be disbursed, and compliance checks at all levels.
We would ensure proper compliance with the annual declaration of income – filing of Form A per employee, annual filing of PAYE tax returns, processing of tax clearance certificate, annual filing of Industrial Training Fund (ITF), to mention a few.
We would assist in following through with all registrations, thereby relieving you of all face-to-face preliminary activities with all the appropriate Governmental bodies such as:
- State Internal Revenue Service
- National Pension Commission
- Nigeria Social Insurance Trust Fund
- Industrial Training Fund,
- Federal Mortgage Bank of Nigeria
- National Housing Fund Scheme.
Monthly Payroll Report
- Confidential personalized payroll for each employee.
- Details of the staff that have resigned, terminated, or new joiners.
- Variance report showing the current and previous month’s cost.
Payroll Process Review and Advisory
Even if you are undertaking payroll processing in-house you can still benefit from our review of your payroll processes, systems, and computations. This will focus on you having an efficient, reliable, and compliant payroll system.
The Client wanted to conduct a comprehensive skills audit of their staff in departments across West Africa, to assess competencies in a bid to match job descriptions and staff skills. To identify the gaps and bridge them.
Based on our expertise, knowledge of the client’s environment, innovative ideas, track record, and competitive price, Mazars Nigeria was selected to support the general coordination of activities for the project.
What Mazars did
To coordinate this project, Mazars Nigeria collaborated with Mazars international offices across West Africa, to cover all the agencies of the Client’s organization, establishing shared governance of the project.
Mazars Nigeria supported the formalization of a master plan for the project. It monitored the progress of activities and of the organization and participated in operational meetings. It also facilitated assessment processes with staff at various levels by conducting semi-structured interviews, formalizing outlier findings, and alerting the owners of these activities to a processing period for resolution. This helped to prioritize activities and keep top management informed of progress.
The strategic international presence of Mazars offices enabled effective and efficient management of the project timelines. Knowledge transfer from an external professional services firm to this organization provides a process to develop and manage a system that cuts red-tape and duplication of offices, thereby increasing accountability and efficient use of resources.
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