At Master Accountants, our payroll services are comprehensive covering all and every aspect of payroll administration. All you need to do is to provide payroll information for each pay period
Payroll information includes particulars of new and departing employees, hours worked, and other related information. We customize our payroll solutions to meet your specific business needs. We can also assist you in implementing a reliable, efficient, and effective payroll system that is right for you. Our firm can also prepare all necessary payroll tax returns in compliance with the legal requirements.
Managing payroll may not seem like a critical task until something goes wrong. It can be time-consuming, but, more importantly, it requires a good knowledge of the tax laws and CRA regulations as well as relating provincial laws and regulations. In addition to preparing paychecks and paycheck stubs, a professional payroll service completes the payroll process which includes preparation and filing of payroll returns federally and provincially as well as keeping account of and timely payment of payroll taxes. The illustration below shows the process in preparation of each pay period information. Preparation and filling of T4s and T4 summary and reconciliation of same to financial records is also part and parcel of payroll administration.
