T4 & T5 Filing Countdown

Automated Payroll

Effortless Payroll Solutions for Your Business

Say goodbye to payroll headaches. Our Automated Payroll service streamlines payroll management, ensuring accurate, on-time payments every pay cycle.

We handle payroll calculations, deductions, direct deposits, and compliance updates, so you can focus on growing your business. Plus, our automation ensures you never miss a deadline or a detail.

Scroll down to explore our plans and get started with hassle-free payroll.

T4 & T5 FILING (FEBRUARY 28TH)

Your Responsibilities as an Employer to Your Employees

Create an Employee Folder on your computer and save the following documents for each employee to maintain proper records and compliance.

  • Employment Contract: Details compensation (salary or hourly), vacation, and total rate of pay.
  • TD1 CRA Forms: Signed Federal and Provincial TD1 forms to be saved in each employee’s payroll folder.
  • Payment: Transfer funds via Direct Deposit, Cheque, or Cash, and ensure payments are always on-time.
  • Paystubs: Provide proof of payment every pay cycle, detailing Gross Pay, Vacation Pay, CPP, EI, and Income Tax deductions.
  • Holiday Pay: Offer statutory holiday pay or paid time off for statutory holidays.
  • T4 Slips: Issue T4 slips at year-end for employees to file their personal taxes.
  • CRA Remittances: Make monthly payroll tax remittances to CRA by the 15th of each month.
  • Letters: Provide job letters as needed, such as for employee mortgage applications.
  • WSIB: Maintain WSIB insurance and remit premiums quarterly for workplace safety compliance.
  • ROE (Record of Employment): Provide an ROE when an employee leaves or is terminated.
  • EHT (Employer Health Tax): If payroll exceeds $1,000,000 annually, remit EHT for applicable employees.

Automated Payroll Setup

We can fully automate payroll for salaried employees and provide semi-automation for hourly staff. Our team will select the ideal payroll software for your business, secure direct discounts, and offer training to make payroll management efficient and stress-free.

Our Payroll Solution Handles:

  • Employee & Contractor Payments: Pay employees and contractors easily.
  • Direct Deposit: Fast, convenient direct deposits for all employees.
  • Online Employee Portal: Provides access to paystubs, T4s, and more.
  • Year-End Reporting: Seamless T4/T4A generation and reporting.
  • No Extra Fees: No charges for money transfers or remittance filings.
  • Income Tax Compliance: Calculates federal and provincial/territorial income tax.
  • CPP/QPP and EI/QPIP: Automatic deductions for Canada Pension Plan, Québec Pension Plan, Employment Insurance, and Québec Parental Insurance.
  • Remittance Scheduling: Monthly and accelerated remittance schedules.
  • ROE Submissions: Effortless Record of Employment submissions.
  • Preset & Custom Income/Deduction Codes: Includes comprehensive preset codes and allows for custom codes.
  • Holiday Pay: Calculates statutory holiday pay for all employees.
  • Workers’ Compensation: Supports WCB/WSIB compliance and contributions.
  • Employer Health Tax: Automatically calculates EHT/HSF for eligible employers.
 

FAQ’s - PAyroll Edition

  • You, as the business owner, are ultimately responsible for ensuring your payroll is processed accurately. However, our team is here to assist you every step of the way, providing support and guidance to help you manage your payroll efficiently.

  • Automated payroll streamlines your payroll process by minimizing manual tasks. We can set up a fully automated payroll system for you, which includes managing paystubs, T4 slips, ROE, direct deposits, and CRA payments. This setup saves you time and reduces errors.

  • A Record of Employment is required when an employee has not been paid for seven consecutive days, or if their employment has ended. This is crucial for compliance with Service Canada regulations.

  • T4 slips must be filed with the CRA by February 28th of each year, and copies should be distributed to employees by the first week of March.

  • WSIB premiums are calculated based on the rate provided during registration. You take your total gross employment income, divide it by 100, and multiply by this rate. We can help you navigate this calculation in our WSIB session.

  • CRA payroll remittances are due by the 15th of each month. To avoid penalties, it’s advisable to initiate payments a few days earlier to ensure they clear in time.

  • Yes, QuickBooks allows you to run payroll effectively. You will need a QuickBooks Payroll subscription, and we can assist you with the setup. Schedule a session with our QuickBooks ProAdvisor for guidance.

  • Payroll reconciliation ensures that all paystubs, T4 slips, and CRA remittances match up. It’s essential for maintaining accurate records and compliance. We can help with this process to catch any discrepancies early.

  • Yes, you can pay your employees in various forms, including cash, direct deposit, or cryptocurrency, as long as it’s outlined in a written contract.

  • TD1 Forms are required for every new employee and must be signed as part of your payroll documentation. Ensure you obtain both the Federal and Provincial TD1 forms.

  • Failing to file a Record of Employment correctly can result in penalties of up to $2,000 for each ROE that is not submitted.