For payroll, 2020 will be the most challenging year-end ever, with government subsidies, workers' comp and pandemic pay
In an ordinary year, executing payroll year-end is a challenge. Running a year-end close requires reconciliations to payroll accounts, adjustments to employment insurance (EI) and Canada Pension Plan/Quebec Pension Plan (CPP/QPP) rates, and calculations are needed for workers’ compensation and other government remittances — all under tight deadlines and with exacting standards for accuracy.
