Payroll

What is outsourced payroll?

We will take care of your payroll process from start to finish so you can focus on growing your business. We function as an extension of your business and take care of your payroll processing and reporting including the calculation of tax deductions, meeting government remittance deadlines, preparing your payroll for year-end, and handling pay-related employee inquiries.

Process

  1. Calculate your employees’ taxes, CPP, EI, other source deductions or contributions that are due to the government or other 3rd parties (e.g. RRSPs, child-support payments etc.)

  2. Withdraw the appropriate funds from your account

  3. Pay your employees via Direct Deposit or Cheque

  4. Remit the appropriate amounts to the government and any 3rd parties

  5. Take care of items like bonuses, commissions, expenses and other things related to paying your employees

  6. Handle vacation pay either by paying it out in every paycheque or accruing it

  7. Provide details of the transactions:

    1. Payroll register: Details on what each employee was paid and all their deductions/ contributions etc.

    2. Direct deposit or cheque summary: The details and totals on all direct deposits made to employees

    3. Paystubs: This is either mailed to you for distribution or sent direct to your employees

    4. Journal Entry: Usually a journal entry posting for your accounting system in csv. or excel formats

Why should you outsource payroll?

  • save time and expense

  • reduce compliance risk

  • ensure your employees are paid accurately and on time