Accounting & Bookkeeping
A collection of our best articles for the accounting and bookkeeping community.
On March 28, 2023, the government released its federal budget for 2023, titled “A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future” (Budget 2023, for short). As inflation has created significant financial hardships for many Canadians, Budget 2023 proposed measures to provide various relief to both small businesses and individuals, while simultaneously tightening certain […]
5 Best Bookkeeping Apps: The Simplified App Stack Method
When I first started my bookkeeping business, I was using about ten different software for bookkeeping, payroll and organization. Not to mention programs for email, HR and other administrative tasks. Oof. Thinking about it gives me a headache! I knew I had to simplify things — not just for myself, but for my clients as […]
What You Need to Know About Your Payroll Remittance Schedule
In this post, we’ll outline the types of payroll deductions you need to make, along with which kind of remittance schedule you’ll need to follow. As advocates of simple, fast, friendly payroll, we’ll do our best to try to make this as painless as possible.
How are bonuses taxed in Canada?
This blog post is written for Canadian businesses. Click here for How to Handle Taxes on Bonus Wages for US companies. As exciting as bonus payouts can be for your employees, for most of them, it’s a bittersweet payment because of the amount that is paid out in taxes. While those concerns are valid, they […]
Top 100 Wagepoint Growth Partners of 2022
In 2022, we witnessed accountants and bookkeepers work hard to meet the needs of many new and recovering small businesses across Canada. While the 2021 theme was “Resilience and Recovery,” this year’s theme is “Evolve and Grow” — and boy, did this community grow! Adding thousands of new small businesses to not only their firm […]
Have No Fear, Here’s How to Avoid a PIER This Year!
In my experience, the most feared year-end document is the Pensionable and Insurable Earnings Review (PIER). Unfortunately, that’s because it tends to make payroll professionals or employers feel like they’ve done something wrong. Don’t worry, the PIER is just a simple review process to understand why there could be differences between the Canada Pension Plan […]
Level Up Your Account Security with Two-Factor Authentication
When it comes to protecting your personal and business information, there are a number of approaches to get the job done. For example, simple solutions like updating your password to be more complex or reviewing payroll reports can help you prevent fraud and catch suspicious activity on your account before it’s too late. At Wagepoint, […]
Make the Most of Your Wagefest Virtual Experience
There’s nothing quite like attending an event packed to the brim with jaw-dropping speakers, value-infused sessions and the chance to have a good time while absorbing it all. Wagefest 2022: Grow. Connect. Celebrate. may be virtual, but we’re shooting for the stars and promising the same amazing experience — you just get to enjoy it […]
Setting Your Tax Year Up for Success [Webinar Recap]
Tax season: Universally regarded as the polar opposite of birthdays on the fun scale. While it’s not the most enjoyable process, it’s critical that small businesses dot their i’s and cross their t’s on payroll year-end tax documents to avoid getting on the Canada Revenue Agency’s (CRA’s) naughty list (aka, a PIER review). Our Community […]
What’s Your And? Podcast — Wagepoint Community Manager, Bianca Mueller Interview
Did you know that Wagepoint Community Manager, Bianca Mueller, used to be known as Bianca the Boxing Bookkeeper? It’s true! Who she is outside of work plays just as much of a role as who she is as an employee, she tells John Garrett of the What’s Your And? podcast. The podcast sets out to […]
Payroll Software that Keeps Up with Client Needs for Yoogs Inc. [Case Study]
Yoogs Inc. is a bilingual Québec-based accounting and bookkeeping practice that likes to keep things super simple for themselves and their clients. They know their clients just want to run their business, so they help by taking the bookkeeping work off the table via easy peasy, paperless applications online. It’s not just about a simple […]
Actionable Workflow Tips For A Successful Company Year-End
You’re going to make it out of tax season alive. That’s a statement, not a question. To achieve this, the first thing you need to do is be brutally honest with yourself. This prep-step will come in handy when the stress hits — and it will, in one form or another. Stay on top of […]
Small Business All-In-One Resource for T4s
Welcome to your all-in-one resource for T4s! ‘Tis the season to fill out or generate these forms to hand off to the Canada Revenue Agency (CRA) and your employees, so we thought it’d be handy to have the information you’ll need in one place. Whether you’re doing so manually or using a payroll software like […]