Advanced Payroll for Small Business

What You'll Learn

This course will equip you with access to excellent reference materials from CRA and EverGreen Explanatory Notes and the latest versions of Sage 50 and QuickBooks Desktop software programs. This valuable resource is updated when changes to the information become available—including changes to legislation, rates used in payroll calculations, and alterations to CRA forms.

Upon graduating, you will be able to produce a payroll run for any period for a payroll of any level of complexity and understand and calculate all employer remittances for deductions taken at source, while fully understanding the consequences of non-compliance. Specifically, you'll
understand the compliance requirements federally and under provincial Employment Standards Codes in their area of operation, be able to
complete TD1 - Personal Tax Credit Return form, T1213– Request to Reduce Taxes at Source form, with a view to reducing withholding taxes which can be used to increase private pension contributions (RRSP, PRPP), and account for a variety of compensation plans including hourly wages, salary, commissions, piecework, bonuses, retroactive payments, and vacation pay.

You'll also have the skills to account for an extensive list of taxable and non-taxable benefits’, account for differences in pay structure for workplaces governed by a union, and provide tax-specific information required by certain profiles including commission salespeople, northern residents, truckers, tradespeople and executives. As well, you'll be equipped to account for termination pay, Records of Employment, T4, T4 Summary, workers' compensation, employer health taxes, other public health care plans.