How is your employee net pay calculate with employment expenses?Arriving at net pay for your employee’s pay period is different what goes on employee expenses?
Are you a licensed real estate agent, the salesperson on a salary/commission or truck driver?
Deducting out of pocket expenses are not [Read more…] about Don’t know how to calculate your payroll?
The holiday season is approaching, and if you’re thinking of taking time off, it is critical to understand your rights as an employee in regards to holiday pay and how it is calculated and paid out to employees.
Your employer is required to calculate and deduct your vacation earnings on each paycheque in the amount of 4% or 6%.
If you have been working for less than five years or have worked in the last 12 months, you are entitled to 2 weeks of vacation pay at 4%. If you have worked for more than five years, you are entitled to 3 weeks of vacation pay at 6%.
Employers can either add vacation pay to each paycheque or accrue it and pay it out when their employee takes a vacation.
You will be paid for this upcoming statutory holiday if you:
The amount paid depends on whether you worked on the actual statutory holiday or not.
Employees receive one of the following pay scales on statutory holidays:
All employers must pay holiday pay and provide time off for employees based on their business’ operations.
Employees are entitled to vacation leave when it does not impair with a business’ profits (employees should note that an employer can deny vacation leave during a business’s peak season). A successful business with have the pay cheques for employees according to the payroll frequence established by the business.
NEVER missing paying employees and payroll taxes by due dates including 3rf party health insurances, union dues, pensions and vacation pay.
All T4’s information slips are given to employees by February 28 of the following year.
If you are hiring workers for your projects, you need to track all the expenses, including operating expenses and Gross Payroll -this includes payroll taxes. You should also be aware of whether you qualify for any of the following credits:
Still confused? We can help you understand your payroll resources, calculate your pay, or answer your questions about payroll. For more information contact Ina.
We take care of your bookkeeping in setting up QuickBooks, look after the bookkeeping for you
QuickBooks Support Services 
If you are doing your own bookkeeping with have our ” Accounting Review Check-ups” an in-depth review the bookkeeping accounts, so you reports are ready for the accountant. If you need us to catch up on your bookkeeping we have this as a separate services.
or
You are a bookkeeper working as a contract/employee or owner, the accountant has provided you with the year-end report. When your accountant doesn’t have time to help you with new update for payments for prior and current year. These services are one way you can get help, how to apply the
Don’t know how to apply payments to the sales tax or corporation taxes? We help in showing you how to do the entries. If you need to help with journal, ledger updates we can do this for you, so that the file is ready to send to the accountant.
Did you know that that Thanksgiving was once called Turkey Day and was celebrated by First Nations as a feast prior to the European settlers?
Thanksgiving was proclaimed a national holiday in 1879. Parliament called it “a day of General Thanksgiving to Almighty God for the bountiful harvest with which Canada has been blessed.”
It is celebrated on the 2nd Monday in October.
I always look forward to the turkey dinner, pumpkin pie and the gathering for friends and family. It’s a celebration of the harvest – and back to school! [Read more…] about Thanksgiving and what you need to know about statutory holiday pay
Hands on Accounting
is here to simplify the process for you.
Every business owner (whether a Sole Proprietorship or a Corporation) is required by law to file and pay taxes on time. That being said the process can be incredibly overwhelming, especially if you are behind on bookkeeping.
When I started my business, I knew I was going to be a Sole Proprietorship, and that I would need someone to help market my business because that is not my area of expertise.
Think of Hands on Accounting as your tax filing expert. We help business owners avoid these 5 major pitfalls [Read more…] about Are you behind in filing your sales taxes?