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A payroll calculator can’t do it all


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How often do you turn to an online payroll calculator to help you calculate payroll and tax deductions for your small business?

Calculating the tax, CPP, EI and other deductions from your employees’ pay can definitely be a challenge for small business owners.

But a payroll calculator can’t address the other important steps in the payroll process. After determining that you are an employer, the Canada Revenue Agency (CRA) outlines the following key steps:

  1. Calculating payroll deductions – Income tax, as well as employer and employee portions of CPP and EI.
  2. Remitting deductions – Did you know that you can face penalties for failing to remit deductions?
  3. Completing and filing the appropriate forms for CRA – From remittance forms to T4s and ROEs.
  4. Keeping records – You’ll need these for tax time, and in the event of an audit.

A payroll calculator can’t take care of these steps for you, but QuickBooks Pro & Payroll can. Not only does this software calculate your payroll deductions, it also:

  • Includes automatic tax table updates to ensure accurate calculations
  • Prints cheques
  • Gives you reminders of tax remittance deadlines
  • Runs accurate, up-to-date remittance reports
  • Creates forms, such as T4s and ROEs
  • Stores your data and runs complete year-end reports
  • Includes a full version of QuickBooks Pro accounting software!
     

 

Call for Payroll at 1-877-823-3340