Payroll mistakes, no matter how small, can be costly to any business. Error-free payroll requires immense organization, time management, and knowledge of federal and provincial requirements. Unsurprisingly then, government agencies and ministries find that payroll mistakes occur regularly due to disorganization and poor housekeeping, which causes employers to pay less than they should to their employees, the government, or both.
Small businesses are often susceptible to payroll pitfalls because payroll functions are often done by someone without a financial or payroll background. The resulting learning curve can lead to mistakes. Despite these issues for small businesses, employment standards inspectors and Canada Revenue Agency agents find similar payroll errors across Canada in medium and large businesses, as well.
So what payroll mistakes are Canadian employers making most often? A lot of these errors have to do with rushing, inefficient practices, or being unfamiliar with or unaware of legal requirements. Unfortunately, some of those mistakes can lead to serious consequences such as fines.
For payroll peace of mind and proactive best practices, download our free action plan, which looks at the five most common payroll errors. Not only are the issues identified, but so are our recommended best practice tips and tactics to help you fix issues in your payroll processes or prevent them from happening altogether.
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