Accounting & Bookkeeping

In April 2021, the Government of Canada released its 2021 Federal Budget: A Recovery Plan for Jobs, Growth, and Resilience, which included a new program called the “Canada Recovery Hiring Program (CRHP)“. Eric Saumure, CPA, CA, Principal of Zenbooks and Wagepoint Partner, summarizes the key implications and impacts of the new CRHP and what it […]

There are few payroll tasks that feel as heavy and complex as having to let an employee go. It’s a critical time for any small business that requires an easy, fast and reliable process for generating a Record of Employment (ROE) so that employees can collect benefits quickly and employers can have the peace of […]

Quick Links Request the report Business resilience defined What the numbers and businesses say The 2021 Canadian Small Business Resilience Report. As we look back on the events of 2020 and the ongoing social and economic impacts, narratives will be dominated by the word “pandemic.” However, as our research has uncovered, conversations about the past […]

On January 27, 2021, Ian Vacin, Chief Customer Officer for Karbon, and Rachel Fisch, Strategic Advisor to Wagepoint held a webinar (online discussion) on the topic of “How compliance leads to advisory.” The truth is, you can’t have one without the other. Especially when it comes to small business payroll. As an accountant or bookkeeper, […]

Small business owners have faced more than their share of challenges this past year. There are severe pressures to keep the business afloat, employ employees as long as possible, pivot to different business models or make the most challenging decisions of all — to pause operations or even close the doors. All of these scenarios […]

As small businesses that work with accounting professionals are twice as likely to survive than those that don’t, the role of an accountant or bookkeeper is both valuable and multidimensional. The evolution of the digital age has significantly changed the business landscape in the accounting and bookkeeping industries. As the number of new applications increases, […]

Much like the metamorphosis of a butterfly, strong product offerings are likely to have gone through many iterations before reaching its “final form.” The reason? Consumer spending habits and preferences are ever-changing and entrepreneurs understand that business success is contingent on meeting the consumer’s needs. Wagepoint CEO Shrad Rao, recently sat down with Michael Palmer, host […]

In our fast-paced world, sometimes picking up the phone is the best way to ensure proper communication and get a problem resolved for our clients. Although you may not have time for a friendly chat, our friends at the Canada Revenue Agency (CRA) do. Emails are a frequent way to communicate on a timely basis, […]

You want to learn more about taking your practice online. You’re looking for tips on using cloud-based tools and decoding the ever-growing ecosystem of fintech applications. Or, maybe you just want to connect with your fellow humans — your accounting and bookkeeping peers. Even if you’re not a social butterfly or networking master, believe it […]

As you reach the final months of any year, there’s the holiday period. (Insert any number of appropriately timed seasonal cliches here.) However, there’s also the process of closing the books on one year of business finances and planning to smooth out any kinks in the year ahead. For many small businesses, payroll is one […]

Temporary changes to Employment Insurance (EI) to help employees access EI benefits faster. Due to COVID-19 and depending on the benefit type, the following changes are in effect until September 2021 and could apply to your employees: The waiting period may be waived. A minimum unemployment rate of 13.1% applies to all regions across Canada — […]

There is no question that payroll is one of the most important aspects of a construction business that needs to be managed effectively. The sheer size of construction projects, as well as a slew of tax regulations, make construction payroll a complex process. Plus, with a large workforce, payroll can be time-consuming and stressful. A […]

This post is intended for US employers. Click here for the Canadian version. Letters from the IRS are never fun. What makes it worse is not knowing why you got one in the first place. When it comes to payroll tax payments and potential fees, you want to get to the heart of the issue […]

There are many reasons why you might want to change small business payroll providers. Your current solution might not be as automated as you like or you might not be feeling the love from customer support. (We hope that never happens with Wagepoint. If you’re ever feeling “unloved” — let us know cuz that shouldn’t […]

A Social Insurance Number (SIN) is a 9-digit form of identification that every individual residing and/or working in Canada must have in order to access government benefits, file income taxes and, most importantly, get paid. (Through the fate of acronyms, SIN also sounds a bit biblical.) A short timeline of the SIN. 1964 — SINs were […]