Payroll preparation is not just about printing paycheques
| Date Published | November 26, 2015 |
| Company | National Bank of Canada |
| Article Author | Benoit Marcoux |
| Article Type | November 2015 Issue |
| Category | Articles, Business |
| Tags | Payroll Services, S&S, Software Solutions |
| HUB SEARCH | NationalBank |
Payroll preparation is not just about printing paycheques
To do payroll, you must know payroll. Payroll preparation is not just about printing paycheques. It is also about processing records of employment, government remittances, taxable benefits, vacation pay, union contributions, support payments, tax slips, such as the T4 and Relevé 1 (in Quebec), and more.
Compliance?
Did you know there are more than 190 regulatory requirements, including 30 specific to Quebec?
Business Continuity?
Do you have an IT and staff contingency plan? How will you produce your payroll in case of major IT issues?
Confidentiality?
Employers have the responsibility of ensuring the confidentiality of documents containing their employees’ personal information.
Penalties?
Did you know a default or late payment on government remittances, i.e. source deductions, can result in penalties as high as 20% of the contribution amount?
These are all good reasons to use the services of a specialized firm rather than an accountant or payroll software. It’s a strategic move many businesses are making.
National Bank and Online Payroll Services: National Bank offers payroll services through its business partner Nethris®, a specialized firm providing Canadian companies of all sizes with services that meet all their payroll management, calculation, and production needs.
To learn more about the Nethris® services and solutions offered by National Bank, call 1-800-361-8688 ext. 45369 or go to nethris.com.
CGI Payroll Services Centre Inc. is the sole provider of payroll processing solutions and services marketed under the Nethris® brand and for which National Bank of Canada acts only as distributor. Nethris® is a registered trademark of CGI Payroll Services Centre Inc.
Benoit Marcoux
Business & International Solutions
NATIONAL BANK OF CANADA
Originally published in the