Whether you are a one-man shop or have several employees, your business should establish payroll. Doing so correctly from the start can make the process smoother as your business grows and adds more employees. You must also establish a payroll account with the Canada Revenue Agency and have a business number. There is a complex web of regulations to sift through; it is important to set up your payroll properly, otherwise, you’re at risk of paying fines. Once you go through the process, you will be able to remit the deduction to the CRA on time.
Check out QuickBooks three-part series on setting up your payroll for an in-depth look at this process.