Canada Business End-of-Year Tax Statement (T4) generation.

[Cam Ellison]

On 08/04/14 01:59 PM, R. Victor Klassen wrote:
> The way I look at it is if it is starting to take way to long to do payroll every pay period, then it makes sense to try to automate things better.
> With two employees, I would have to guess that you are better off staying with a spreadsheet.  This makes it easier to generate the data you need every quarter for remitting, as well as the T4s next January/February.
>
> If you do the thorough splits you’ve suggested below, two comments: first, it doesn’t scale well.  If your business grows, you wouldn’t want to be doing something like that for every employee.  But maybe that’s not a consideration.  But the second one is, like you say, it could be error prone if you don’t automate it (which is what I’m attempting to do, but that’s still in beta, and has a number of agricultural-worker-specific features).  And the problem with errors is that you might wind up getting the tax forms wrong, but more likely you’ll spend hours finding and fixing any errors that do come up, and that’s where you wish you stuck with what was already working.
>
>
Really, I think Victor's right here.  It may seem too time-consuming to 
duplicate the entries in your spreadsheet and in GC, but the time you 
gain trying to keep it all in one place can be easily lost the first 
time a split goes awry.  I did it with two employees, no turnover, and 
only Federal tax and CPP (the latter for only one person after about 4 
years).  My accountant extracted the necessary information and did the 
T4s.  Easy for me.   Had I more employees I would not have considered it.

Cheers

Cam