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Let's dive into Year-end Payroll Preparations!
In this session, we will cover:
Year-End Preparation (Oct - Dec)
- Review Employee Data
- Reconcile Payroll Accounts
- Review Benefits (TXB, Expenses, Auto, Gift Cards)
- Review any special payments made - may require tax form reporting
- Ensure payroll setups are mapped correctly (New Earning Codes)
- Ensure all WCB, EHT & Tax notices of any changes have been submitted in Payroll Provider
- Review new year payroll Schedule (Bank holidays due to stats)
- Review your payroll processing of a BiWeekly payroll 26 pays to 27 pays
- Select Tax Form printing (if this is an option)
Processing the final payroll for the Year
- For any adjustments found in the recompilation, ensure all have been captured
- All Manual cheques have been recorded, and any other adjustments
- Ensure all address changes have been captured
Final Reconciliation of Year-End
- Tax Remittances Review & Account Balance
- CPP & EI
- Final GL reconciliation
- Wage Expense Review & Reconciliation
- Update new tax forms (TD1s)
Presenter: Jennifer Stanley
Jennifer Stanley is a payroll specialist with over 27 years of experience managing complex payroll across multiple Canadian provinces and internationally. She is known for her ability to untangle messy records, streamline processes, and ensure year-end compliance with accuracy and efficiency. With a commitment to clear communication and dependable results, Jennifer supports clients in building strong, compliant payroll systems and processes that save time and reduce stress.
The Agenda:
5:00 - 6:00 - Networking
6:00 - 7:00 - Presentation
7:00 - 7:30 - Questions and Closing
Location
1295 Cannery Lane, Kelowna, BC, V1Y9V8
Contact
Regional Network Chair: Cher Schaefer, CPB Email: cher@nowbookkeeping.ca & Kristy Senger Email: kristy@axiombookkeeping.ca