Business man and woman going through their payroll

Understanding Small Business Payroll Accounting & Journal Entries

Even if you own or operate a small business, chances are you have employees – meaning payroll is a fact of life. Maintaining payroll accounting books involves knowing simple accounting journal entries – basically, to be sure your books are accurate and are in compliance with Canadian best practices, it’s vital that you know how […]

small business owner processing payroll

How to Process Payroll

If you’ve never processed payroll, you might be feeling a little intimidated. But don’t worry. Processing payroll is easier than you think. This guide will take you through the payroll process step by step, so you’re confident and prepared for payday.   <<Back: What is Payroll?  Next: How to Choose a Payroll Provider>>   What […]

Business owner using payroll software on his tablet

How to Choose a Payroll Provider

Discover how to choose the best payroll provider for your small business. Learn the key questions to ask when selecting a payroll service, as well as important features to look for. Using an efficient and accurate payroll system is a vital part of running your small business. From setting up multiple pay schedules and frequencies […]

Woman calculating payroll on QuickBooks app

How to Calculate Payroll

Paying your employees accurately and on time is about more than being a good employer: it is the law. Because your payroll expense is probably the largest expense you have, keeping track of it is very important. Below we’ll review how to calculate payroll, including gross wages, payroll taxes, and benefits. This will give you […]

Man calculating payroll deductions

Payroll Deductions and Remittances: What You Need to Know

Small businesses that hire employees must be aware of all payroll responsibilities attached to being an employer. Operating a business in Canada means complying with all pay regulations dictated by the Canada Revenue Agency (CRA), including required deductions and remittances. Learn what payroll deductions are, the various types associated with them, and the remittance schedule […]

Employer working on payroll

How to Pay Your Employees

If your small business has reached a point where you need to hire workers to keep up with the workload, you will need to know how the payroll process works. The first step to paying employees is setting up and using a payroll system. To find out the process needed to pay your employees through […]

Man calculating payroll

What is Payroll?

As a small business owner, if you hire employees to work under you, you will need to have a payroll. A payroll should consist of employee names and information, hours worked, wages, deductions, and all records of payment made to them for each pay period and tax year. Businesses can manage their payroll process either […]

Man using apps to make it easier to manage payroll

4 Apps to Manage Your Own Payroll

Managing payroll can take a lot out of a small business, which is why so many companies seem willing to pay the cost of outsourcing it. In-house human resources departments tend to be resource-intensive undertakings, with time spent tracking time and benefits quickly growing beyond part-time commitments. Handling HR and payroll yourself, without the time […]

Man tipping a cashier for her service

Tipping in Ontario: An Overview for Employers

Look at Ontario’s tipping laws. Review your right to ban tipping in your dining establishment, and examine your obligations if you allow tipping. Learn about the province’s rules for tip pools, and ensure you are compliant with relevant regulations. Find out when owners and managers can accept tips.

Woman Depositing Check With Smartphone

How to Set Up an Online Payroll Account in Canada

When you start your business, your team may just be you. However, as you grow and onboard employees, your payroll needs will expand, and you’ll need a quality online payroll system. If this is your first time implementing payroll online, there is a lot to learn. However, with support from experts like the QuickBooks Resource […]

woman working on payroll

Tips for Changing Payroll Frequency

Switching to less-frequent payroll periods can save time and money on payroll processing costs, but to navigate the change successfully, you need to recalculate payments, make changes to your accounting software, and communicate with your employees about the change.   <<Back: What is Payroll?  Next: Online Payroll Calculator>> Weekly Payroll Sending out weekly pay cheques […]

Should I Pay for Payroll?

The decision whether to outsource the payroll function or keep it in house typically comes down to cost, which varies widely depending on the type, size, and growth trajectory of a business. While smaller businesses might save money on tangible costs by keeping payroll in house, factors such as multiple locations, employee benefits, employee turnover, […]

payroll calendar

Rules of Overtime in Canada By Province

Understanding overtime in Canada ensures you’re paying employees fairly when they work more hours than the normal work period. In most Canadian provinces, the overtime rate is 1.5 times the employee’s standard compensation, and it’s typically paid after an employee works more than eight hours per day or 40 hours per week. There are quite […]

Worker checks her bank account to see if her company's payroll direct deposit has reached her account

You’re Still Not Using Payroll Direct Deposit?

Using payroll direct deposit to pay staff wages benefits your small business in multiple ways. A direct deposit system transfers employees’ wages into their bank accounts electronically from your payroll funds, leaving you time to focus on the big-picture issues facing your company. Direct deposit is also a convenient payment method for your employees, who […]

Use this easy guide to help with payroll deductions

Your Easy Guide to Payroll Deductions

As a small business owner, you have a lot of responsibilities, including your obligation to pay your employees. Just writing that paycheque isn’t enough, though — you also have to withhold your employees’ payroll deductions, remit them to the Canada Revenue Agency (CRA), and take care of more paperwork than you might expect. Payroll deductions […]

construction workers discussing payroll

Construction 101: How to Streamline Payroll

When you run a construction company, payroll is often one of your most complex administrative tasks. At any given time, you probably have employees at multiple pay rates working across a variety of job sites and crews. By streamlining your payroll process, you can save time and make sure that everyone’s getting paid accurately and […]

A business owner correcting overpayment to employees in QuickBooks

Correcting Overpayment to Employees

Correct an overpayment to an employee by addressing the repayment, writing a repayment letter, and notifying the CRA. Correct an overpayment to an employee by issuing a T4 slip, writing a repayment letter, and notifying the CRA.

Two women discussing which payroll system to use

The Right Payroll Option for Every Phase of Your Business

Find out how to choose the best payroll system for your small business. From security to platform, discover what to look for when selecting your type of payroll. When you started your business, it might have been just you working alone, but now your company has grown and you have employees who are crucial to […]

Female office worker writing and signing check or cheque, while sitting at her desk and looking at computer screen

Ultimate Canadian Payroll Guide for Small Businesses

Understanding business is tough enough, but as the rules begin to pile up – especially those concerning Canadian payroll – it can be rather intimidating. This comprehensive guide will help you navigate the potentially stressful world of payroll management and foster a healthy company. Payroll Best Practices – Dos and Don’ts There are definitive best […]

Screen of QuickBooks Payroll

Is Quickbooks Payroll Right for My Business?

With so many payroll software options available, what should you look for when determining the best one for your business? Multiple payroll software options can meet a variety of needs, but QuickBooks Payroll is consistently a top choice for small business owners. Learn about the various features and benefits of this comprehensive payroll software, and […]

Employer handing cheque to employee

As An Employer What are Your Payroll Obligations?

Discover payroll obligations to your employees. Learn common deductions you must make, how to calculate them, and when you must remit them to the CRA. Unless you run a solo small business, chances are that your employees provide the support necessary to make your company successful. While your employees have the responsibility of helping customers, […]

Man frustrated by how much he has to pay his lousy employee

Should Your Company Relocate to a Province With a Lower Minimum Wage?

Determine whether moving your business to a new province to escape rising minimum wages and increased labour costs in Ontario and Alberta is a good idea or whether the costs, business disruptions, and logistical challenges of moving wipe away any benefit you get from cheaper help.

Accountant prepares the payroll for her Ontario based company

Calculating Holiday Pay for Ontario Employees

Check out the holiday pay rules in Ontario. Review the list of public holidays in this province. Figure out how to calculate holiday pay for full-time and part-time employees as of January 2018, and learn how to calculate premium pay for employees who work on holidays.

Grieving woman researching compensation laws for her deceased husband

Handling Wages and Benefits Owed to Deceased Employees

Understand how to handle wages, salaries, benefits, and other monies owed to a recently deceased employee. Learn what rights the employee’s survivors have regarding workers’ compensation.

Business owner getting employee gifts together

Don’t Give Employees Gift Cards as Rewards

Buying a gift for an employee? You may want to avoid gift cards. Learn about their tax liability for payroll and review other options.

Unbanked farmer has peace of mind knowing that his income is protected through payroll cards

Should You Use Payroll Cards in Your Small Business?

Payroll cards are prepaid debit cards you can use to pay your employees. Instead of issuing a cheque, you simply load your employee’s pay onto a payroll card. The employee can then use the card for ATM withdrawals or to make purchases at shops that accept credit cards. There are pros and cons to payroll […]

A small business owner using Canada's three-hour rule to calculate employee payment

Understanding Canada’s Three-Hour Rule for Employee Payment

When business is slow, it’s common practice to let an employee go home early. However, if that employee has on the clock for less than three hours, you may have to pay them more than their usual rate. Understanding the Three-Hour Rule ensures your business stays compliant with labour regulations. Three-Hour Rule Definition The Government […]

A woman taking days off earned in a vacation entitlement year to work in her garden

What Is a Vacation Entitlement Year?

Vacation entitlement years are used to help determine how much vacation time and vacation pay an employee is entitled to have. A vacation entitlement year is the 12-month period over which an employee earns vacation. As for time off, an employee is entitled to two weeks of vacation time after each vacation entitlement year. As […]

A man pilots a boat while on vacation from work

Vacation and Holiday Policies by Province

As an employer, you are obligated to give your employees vacation time. The exact amount varies based on your industry, how long your employee has been with the company, and the province in which your business resides. Here is an overview of the basics. Federally Regulated Employees If your business is in one of several […]

A Woman Reviewing Documents

Common Payroll Mistakes That Small Businesses Make

When hiring employees, one of the most important functions a small business performs is managing employee payroll accounting. Payroll mistakes can be costly and can have financial, legal, and reputational consequences. These are some of the payroll accounting mistakes that small businesses commonly make. Miscalculating Taxable Income It is not uncommon for some employers to […]

Delivery driver earning overtime pay with smartphone on dash

Accounting for Overtime Pay in the Budget

A critical business tool is an accurate budget. One component of a budget for small businesses with employees is overtime pay, which is the premium paid for overtime hours worked in excess of the normal wage rate. In Canada, for most employees, overtime begins once a person works over 44 hours in a week, and […]

Payroll paperwork and book on desk near computer monitor

Review Payroll Before Disbursing Payments

Automatic payroll software can generate paycheques based on information from your scheduling or time clock program. This type of software can also take care of source deductions and other payroll tax requirements. However, you may want to spend a few minutes manually reviewing the information on your payroll files before disbursing payments. If you make […]

Receiving Paystub

Direct Deposit for QuickBooks Payroll

I love QBO (QuickBooks Online). New stuff just arrives. Once again, I am surprised and delighted by QBO! Direct Deposit is here, without any fanfare. It’s been introduced as a Beta for customers to start using right away! I’ll bet you are wondering how easy is it to pay employees with Direct Deposit via QBO […]

Man and his employee discussing Canada's rules for working hours

Canada’s Rules for Working Hours

You started out with a great business idea, but now you need to implement it. To do that, you need staff, but before you can start hiring, you need to understand basic employment standards. Here’s a quick review of some of the laws governing working hours. Each province and territory has its own rules and […]

Minimum wage employee working in restaurant near industrial equipment

Understanding Minimum Wage Benefits

You often hear people talk about working at minimum wage, but did you know that there are different wage rates for different types of jobs? Most people know the general minimum wage for their province or territory, but are you aware that these rates are reviewed annually? Take a closer look at Canada’s minimum wage […]

Accountant and payroll manager exchange documents

Integrating Your Accounting and Payroll Processes

Payroll Spreadsheet Blues? Have you INTEGRATED? A little advice to keeping your payroll records free from error and easy to reconcile at year end. It may not be your fiscal year end, but the end of the calendar year may be giving you similar anxiety pains as you question your record keeping, your formulas and […]

Men in a Meeting

Payroll is Serious Business

It’s the law, mandatory to keep records about employees. Employers can’t just write cheques or pay cash and barter is viewed as dubious but may be accepted with sufficient record keeping. Best practice Keep a permanent file for each employee, an annual file, both for each employee, with their timesheets and pay related information, and […]

Small business owner in restaurant at counter configuring payroll tax on a laptop computer

Payroll Tax Compliance: What Every Small Business Needs To Know

Small business owners know long-term success requires good financial management. But a 10-question survey on financial literacy, revealed that only 18% of Canadian small business owners scored more than 60 percent. These insights into the financial literacy challenges of Canadian small business owners means you might need a refresher course to keep your company on […]