6  Tips To A Successful Payroll Year-End

    

We have successfully started a new year and a new decade. Now that the calendar has rolled over there are a handful of business items we need to handle, one being to ensure our payroll is ready for the new year. Here are 6 key items to get you started, and don’t forget to download the checklist to help you have a smooth Payroll Year-End.

Year-end is here – keep calm and here are some tips for a smooth Year-end

  1. Download, print off and review the Year-End checklist  
  2. Make sure to update your payroll software, if applicable, with the new tax tables.
  3. Familiarize yourself with new source deductions, changes in the minimum wage and other adjustments
  4. Educate employees and send communications on Year-End related changes and activities (i.e. the effect of 27 pay periods if applicable)
  5. Print and share payroll calendar with important dates (i.e. stat holidays, pay periods) and deadlines - We have created a one-sheet of the Canadian Holidays for your reference.  2020 Canadian Important Dates Calendar
  6. Don’t forget to check other legislative updates (Provincial and Federal that will affect payroll)

We hope with these added guides you will find payroll year-end significantly less stressful. Do not forget BAASS is here and can provide you with support should you run into any issues.

Please share how you prepare for payroll year-end and how you minimize stress in our comment box below.

 

About The Author

Anna is a certified Sage 300 ERP consultant with fifteen years’ industry experience. She has implemented over 100 ERP systems. Prior to consulting and project management, Anna held accounting positions across a variety of industries and brings this experience to her understanding of customer requirements. Anna is certified in Sage 300 ERP and Sage HRMS and an expert in Long-Term Care Home customizations.