We take the pain out of payroll with online software
A payroll is a company's list of its employees, but the term is more commonly used to refer to what a company pays to its employees. Our feature-rich Payroll software will meet and exceed all of your payroll processing needs.
As an Alberta employer, here are the 5 steps to doing payroll:
1. Opening a payroll account with the Canada Revenue Agency (CRA) by contacting the Canada Revenue Agency at 1-800-959-5525 and getting a business number.
2. Collect required information from your employees by having them complete federal and provincial TD1 forms.
3. Deduct the appropriate payroll deductions, known as Deductions at Source, from employees' pay each pay period
4. Remit these payroll deductions, along with the employer's share of Canada Pension Plan (CPP) contributions and Employment Insurance (EI) premiums, to the Canada Revenue Agency as required.
5. Report each employee's income and deductions on the appropriate T4 or T4A slip and file a return before the last day of February of the following calendar year.
How often do employees like to be paid?
Most hourly employees like to be paid more frequently so that they can budget from paycheck to paycheck. The majority of employees are paid on a bi-weekly schedule. Most salaried employees are paid bi-weekly as well.
What are Deductions at Source?
As an employer, you have to calculate the CPP contributions, EI premiums, and income tax deductions based on the amounts you pay your employees, These deductions must be submitted to the government by the 15th of the following month.