| Year-end /new checklist | ||
| One of the best ways to ensure a smooth year-end is to make sure that any pay is processed accurately. | ||
| Item | Action to be taken | Done |
| Create year-end reference file | ||
| Start-up | Determine which forms will be required ( T4,RL-1 etc) | |
| Download guides and forms from Canada Revenue Agency and Revenu Quebec | ||
| Hold year-end meeting with stakeholders | ||
| Balance payroll tax account remittances to payroll register | ||
| Balance | Reconcile payroll bank account for outstanding entries to payroll ( Manual cheques, void, cancelled cheques) | |
| Reconcile | Update any manual or cancelled cheques to payroll | |
| Conduct self audit of all deductions ( QPIP, QPP, EI, income taxes) | ||
| Remit outstanding QPP, QPIP, EI with or before final remittance for tax year | ||
| Run a test for T4/RL-1 forms and summary report | ||
| Balance T4/RL-1 report with payroll register to validate that earnings and deductions are reported in corect boxes | ||
| Ensure that SIN are recorded properly | ||
| Update WCB/CSNESST awards reimbursed to employer | ||
| Pension adjustments |
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