CPA Isaac Achal and his team will help prepare payroll services guarantees a number of factors, including:

• • • Accurate payroll calculations (using T4, T4 summaries and Record of Employment), disbursement, payslip generation, managing payroll tax services, and record keeping compliance
    • We utilize payroll software that omits any forms of error including erroneous paychecks whilst ensuring that all statutory compliances are met
    • Calculate CRA payroll tax to be deducted from employee paychecks (remittance)
    • Ensure the payment of the Employment Insurance and the Canada Pension Plan

Our Payroll Process

Step 1:

By extrapolating information from an individual’s T4, we are able to accurately calculate payroll by using personal information such as:

• • Full legal name
  • Current address–employees are taxed based on their residence, not work address
  • Telephone number
  • Date of birth
  • Social insurance number (SIN)
  • Names and codes for internal departments
  • Banking information for direct deposit
  • Salary or wages, including commissions or bonuses
  • Hours worked, if employee is paid hourly
  • Vacation accrual
  • Vacation allowable overdraw or carryover
  • Registered retirement savings plans (RRSP) deductions
  • Pension deductions

Step 2:

We also help to deduct taxes owed to the CRA and other service fees from each payroll. This includes:

• • Employment Insurance (EI)
  • Canadian Pension Plan
  • Worker’s Compensation
  • Union dues
  • Group benefits
  • Other deductions

Step 3:

Once the payroll and tax deductions have been calculated, finalized and approved, payroll disbursement to your employees will be processed through direct deposit, e-transfer, or cheque.

Step 4:

To avoid identity theft and provide privacy to our clients, Isaac Achal Professional Corporation puts a premium on complying to strict standards enforced by the CRA to provide our clients with a strong audit trail.

Step 5: