Barbara Steckly from Preferred Client Services, in Edmonton, AB with your bookkeeping tip for the day.
Nervous about switching payroll programs?
If your current payroll program no longer serves your business needs, then it’s time to make a switch. If that switch happens in the middle of the year, there could be problems. As we know, payroll problems are no fun for either employers or staff.
One way to avoid T4 inaccuracies at year end is to report all payroll runs from the previous program in your new program. This can be done with one entry per employee for the year to date. Balance the new program with the old program before preparing your next payroll.
Also, when it’s time for the first cheque run on the new system, compare your figures to the previous month and keep an eye out for any discrepancies that need fixing. A smooth transition will spread joy in the coffee room on payday!
Preferred Client Services, partnering with you, your Edmonton business, your team and your accountant to make a positive difference in your bottom line.