{"id":8752,"date":"2022-11-15T08:01:29","date_gmt":"2022-11-15T13:01:29","guid":{"rendered":"https:\/\/www.sage.com\/en-ca\/blog\/?p=8752"},"modified":"2026-02-24T10:23:41","modified_gmt":"2026-02-24T15:23:41","slug":"year-end-payroll-checklist-for-small-business-owners","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-ca\/blog\/year-end-payroll-checklist-for-small-business-owners\/","title":{"rendered":"Year-end payroll checklist for Small Business Owners"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ca\/blog\/category\/money-matters\/\" class=\"entry-header__link\">Money Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tYear-end payroll checklist for Small Business Owners\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2022-11-15T08:01:29-05:00\">November 15, 2022<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"Year-end payroll checklist for Small Business Owners\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-ca\/blog\/year-end-payroll-checklist-for-small-business-owners\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-ca\/blog\/author\/rogerpierce\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2021\/10\/rogerp.png\" class=\"entry-author__image\" alt=\"Roger Pierce Author\" \/>\t\t\t\t<span class=\"entry-author__name\">Roger Pierce<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p>When it comes to payroll compliance, year-end can be a complicated and confusing time for business owners with so many forms to complete, filing deadlines to remember and details to update.<\/p>\n\n\n\n<p>This process can be particularly daunting for small businesses still operating with paper-based systems for payroll and accounting.<\/p>\n\n\n\n<p>Read this article to check those year-end boxes and make sure your payroll is up-to-date and accurate going into the next year.<\/p>\n\n\n\n<p><strong>Check current tax rules<\/strong><\/p>\n\n\n\n<p>Tax legislation changes frequently, so it\u2019s a good idea to take a few minutes to make sure you\u2019re working with the most recent tax guidelines.<\/p>\n\n\n\n<p>Remember, your payroll tax responsibilities include deducting from employee paychecks the appropriate federal income tax, provincial and territorial income tax, Canada Pension Plan (CPP) contribution and Employment Insurance (EI) premium.<\/p>\n\n\n\n<p>As an employer, you must pay an amount beyond the employee\u2019s contribution to CPP and EI \u2013 for example, for CPP the employer matches the amount deducted from the paycheck, while for EI the employer must contribute 1.4 times the amount paid by the employee.<\/p>\n\n\n\n<p>Visit these government websites:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>For more information about the Canada Pension Plan (CPP), <a href=\"https:\/\/www.canada.ca\/en\/services\/benefits\/publicpensions\/cpp.html\" target=\"_blank\" rel=\"noreferrer noopener\">visit the CRA website<\/a>.<\/li>\n\n\n\n<li>For more information about Employment Insurance (EI), <a href=\"https:\/\/www.canada.ca\/en\/services\/benefits\/ei.html\" target=\"_blank\" rel=\"noreferrer noopener\">visit the CRA website<\/a>.<\/li>\n\n\n\n<li>For more information about Federal Income Tax, <a href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/services\/tax\/individuals\/frequently-asked-questions-individuals\/canadian-income-tax-rates-individuals-current-previous-years.html\" target=\"_blank\" rel=\"noreferrer noopener\">visit the CRA website<\/a><\/li>\n\n\n\n<li>If you need to enter an additional withholding amount for your employee, speak to the CRA to check what you should do.<\/li>\n<\/ul>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Small Business Survival Toolkit<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>A practical guide with easy to use templates to help your new business start, survive and thrive.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-f83d0c91-0a6f-44a6-bc16-55083b9084df\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Get your Small Business Survival Toolkit<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"single-cta__downloads\">\n\t\t\t\t\t\n\t\t\t\t\t7,066 readers have downloaded this guide\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1064\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-610436768_super-1064x810.jpg\" class=\"single-cta__image\" alt=\"People sitting at desks in a large office\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-610436768_super-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<p><strong>Provincial or territorial taxes<\/strong><\/p>\n\n\n\n<p>If you are unsure how to apply provincial taxes to your employees, <a href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/services\/tax\/businesses\/related-provincial-territorial-government-sites.html\" target=\"_blank\" rel=\"noreferrer noopener\">refer to the CRA website<\/a> for a list of support pages for each area.<\/p>\n\n\n\n<p>To help figure out employee source deduction amounts, you can also use this <a href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/services\/e-services\/e-services-businesses\/payroll-deductions-online-calculator.html\">Payroll Deductions Online Calculator<\/a> from the Government of Canada.<\/p>\n\n\n\n<p><strong>Check employee records<\/strong><\/p>\n\n\n\n<p>Once you\u2019re certain you have current tax information, it\u2019s time to update your employee records with correct amounts for deductions and pay rates.<\/p>\n\n\n\n<p>If you\u2019re using spreadsheets or a paper-based system to manage payroll, carefully review each employee record to check you\u2019re applying the most current source deductions.<\/p>\n\n\n\n<p>If you\u2019re using <a href=\"https:\/\/www.sage.com\/en-ca\/sage-business-cloud\/payroll\/\">Sage Business Cloud Payroll<\/a>, follow these steps to update an Employee record:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Open the Employee tab &amp; select the Employee you want to edit.<\/li>\n\n\n\n<li>Select whether to edit their Employee Details or their Payslip Template Values.<\/li>\n\n\n\n<li>To change Employee Details, edit the employee information as required and hit Save.<\/li>\n\n\n\n<li>To change items from the Employee\u2019s Template Values, make your desired changes and hit Save.<\/li>\n<\/ul>\n\n\n\n<p><strong>Check which payroll reports are due early next year<\/strong><\/p>\n\n\n\n<p>Canada Revenue Agency gives you a few weeks in the new year to prepare your year-end information return for payroll up to December 31 of the previous year.<\/p>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Small Business Survival Toolkit<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>A practical guide with easy to use templates to help your new business start, survive and thrive.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-f83d0c91-0a6f-44a6-bc16-55083b9084df\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Get your Small Business Survival Toolkit<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"single-cta__downloads\">\n\t\t\t\t\t\n\t\t\t\t\t7,066 readers have downloaded this guide\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1064\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-610436768_super-1064x810.jpg\" class=\"single-cta__image\" alt=\"People sitting at desks in a large office\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-610436768_super-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<p><strong>End of February deadline<\/strong><\/p>\n\n\n\n<p>The Payroll Information Return contains a summary of the year and employee payroll slips. This return is due to CRA on the&nbsp;last day of February for the previous calendar year ended.<\/p>\n\n\n\n<p>You must also send T4 slips to your employees by the last day of February. These slips summarize employee earnings and deductions so they can complete their income tax returns. &nbsp;<\/p>\n\n\n\n<p><strong>Review employee pay information<\/strong><\/p>\n\n\n\n<p>Before you submit your end of year Information Return to CRA, it\u2019s a good idea to review your records to make sure everything is in order.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Confirm employee names are spelled correctly.<\/li>\n\n\n\n<li>Ensure all social insurance numbers are present and correct.<\/li>\n\n\n\n<li>Verify the employee mailing address.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Check to make sure any former employees, contract workers, and short-term employees will receive final income statements.<\/li>\n\n\n\n<li>Ensure there are no missing payroll periods.<\/li>\n<\/ul>\n\n\n\n<p><strong>Keep track of payment deadlines<\/strong><\/p>\n\n\n\n<p>During the next year, don\u2019t miss deadlines to remit your payroll deductions to the Canada Revenue Agency \u2014 otherwise you may incur interest charges and penalties.<\/p>\n\n\n\n<p>Payments may be submitted monthly (on the 15<sup>th<\/sup> day of the following month) or quarterly (on the 15<sup>th<\/sup> day of January, April, July, and October).<\/p>\n\n\n\n<p><strong>Remember to keep your tax records<\/strong><\/p>\n\n\n\n<p>Canada Revenue Agency requires you to keep adequate records for 6 years after you file each return.<\/p>\n\n\n\n<p>Your records must provide enough detail to determine your tax obligations and support your deductions. Keep all of your original documents well organized and available to you in case the CRA decides to audit your company<\/p>\n\n\n\n<p><strong>Check you\u2019ve collected information to onboard a new employee<\/strong><\/p>\n\n\n\n<p>Whether it\u2019s your first employee or your hundredth, you\u2019ll need to collect certain information from a new hire in order to set them up on your payroll system.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Personal Tax Credits Return (TD1 form) determines the amount of income tax to be deducted from the employee\u2019s pay. Federal and Provincial TD1 forms must be filled out and signed. (You can get the <a href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/services\/forms-publications\/td1-personal-tax-credits-returns\/td1-forms-pay-received-on-january-1-later.html\">forms for each province or territory here<\/a>.)<\/li>\n\n\n\n<li>A mailing address as proof of residence.<\/li>\n\n\n\n<li>Social Insurance Number (SIN).<\/li>\n\n\n\n<li>Date of birth.<\/li>\n\n\n\n<li>Bank account information for direct deposit.<\/li>\n\n\n\n<li>Personal contact information including email and telephone phone number.<\/li>\n\n\n\n<li>Terms of Employment including compensation and contract duration.<\/li>\n<\/ul>\n\n\n\n<p><strong>Final thoughts<\/strong><\/p>\n\n\n\n<p>There\u2019s a lot to juggle when it comes to payroll \u2014 and you likely have better things to do. Using spreadsheets to make payroll calculations opens the possibility for errors and will consume more of your valuable time.<\/p>\n\n\n\n<p>If you decide to get a payroll solution such as <a href=\"https:\/\/www.sage.com\/en-ca\/sage-business-cloud\/payroll\/\">Sage Business Cloud Payroll<\/a> for your business, it will help you to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Record your employee information.<\/li>\n\n\n\n<li>Work out payroll tax deductions.<\/li>\n\n\n\n<li>Report payroll information to the government.<\/li>\n\n\n\n<li>Calculate and prepare government remittances.<\/li>\n\n\n\n<li>Identify any statutory pay requirements, like overtime.<\/li>\n<\/ul>\n\n\n\n<p>And, if you work with an accounting professional, they\u2019ll appreciate the way Sage Business Cloud Payroll integrates with Sage Accounting.<\/p>\n\n\n\n<p>For most small businesses looking to eliminate payroll headaches, a <a href=\"https:\/\/www.sage.com\/en-ca\/sage-business-cloud\/payroll\/\">cloud-based payroll solution<\/a> is an easy solution because there\u2019s no expensive upfront software purchase or complicated set-up process. The provider is responsible for keeping the software current with the latest tax rules and deadlines. And, you can access your payroll information anywhere, anytime using your browser.<\/p>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Small Business Survival Toolkit<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>A practical guide with easy to use templates to help your new business start, survive and thrive.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-f83d0c91-0a6f-44a6-bc16-55083b9084df\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Get your Small Business Survival Toolkit<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"single-cta__downloads\">\n\t\t\t\t\t\n\t\t\t\t\t7,066 readers have downloaded this guide\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1064\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-610436768_super-1064x810.jpg\" class=\"single-cta__image\" alt=\"People sitting at desks in a large office\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-610436768_super-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice Newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p class=\"cta-content__title\">Get a roundup of our best business advice in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-8949a954-88b2-43bb-8b8a-77c53eb34350\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1073797282-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1073797282-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n<section class=\"more-topics alignfull has-grey-light-background-color wp-block-sage-post-topics\">\n\t<div class=\"container\">\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col col-12 col-lg-4\">\n\t\t\t\t<h3 class=\"more-topics__title h2\">Browse more topics from this article<\/h3>\n\t\t\t<\/div>\n\t\t\t<div class=\"col col-12 col-lg-8\">\n\t\t\t\t<ul class=\"post-tags__list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ca\/blog\/tag\/business-finances\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tbusiness finances\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ca\/blog\/tag\/payroll\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tpayroll\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<div class=\"alignfull wp-block-sage-related-posts\">\n\t<section class=\"related-posts card-grid has-dark-background-color\">\n\t<div class=\"container\">\n\t\t\t\t\t<div class=\"row\">\n\t\t\t\t<div class=\"col\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--featured h1\">Explore more wisdom<\/h2>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"row related-posts__featured\">\n\t\t\t\t<div class=\"col card-grid__item\">\n\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-0 post-14512 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-technology-innovation tag-bookkeeping tag-business-finances tag-cash-flow tag-digital-transformation tag-payment-processing tag-small-business business_type-small-business card-post--is-clickable\"\n>\n\t<div class=\"card-post__media-wrapper\">\n\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1307905756-1440x810.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1307905756-684x384.jpg 684w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1307905756-768x432.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1307905756-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"card-post__content\">\n\t\t\t\t\t<div class=\"card-post__label\">Recommended<\/div>\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-06-08T12:20:34-04:00\">June 8, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">14 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h3\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\tclass=\"card-post__title-link\"\n\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/invoice-automation-boosting-efficiency\/\"\n\t\t\t\t>\n\t\t\t\n\t\t\tInvoice automation: How to boost efficiency and get paid faster\u00a0\n\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/p>\n\n\t\t\n\t\t\t\t\t<p class=\"card-post__description\">\n\t\t\t\tSpending too much time chasing invoices and not enough time running your business? Invoice automation reduces errors and the time spent on manual invoicing tasks so you can get paid faster. Learn how invoice automation works, why it matters for your cash flow, and how to set it up. \t\t\t<\/p>\n\t\t\n\t\t\t<\/div>\n\n\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t<div class=\"row related-posts__non-featured\">\n\t\t\t\t<div class=\"col col-12\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--more h4\">More on this Topic<\/h2>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-1 post-14291 post type-post status-publish format-standard has-post-thumbnail hentry category-compliance category-paying-people tag-bookkeeping tag-compliance tag-payroll tag-small-business tag-tax business_type-small-business industry-professional-services\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/year-end-payroll-guide-small-businesses-2026\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-612505724_super-684x384.jpg\" class=\"card-post__image\" alt=\"Employee working on a laptop in a restaurant\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-612505724_super-684x384.jpg 684w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-612505724_super-768x585.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/01\/GettyImages-612505724_super-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-02-04T13:22:49-05:00\">February 4, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">11 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tThe Ultimate Guide to Year-End Payroll in Canada (2026)\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-2 post-12911 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-bookkeeping tag-business-finances tag-cash-flow tag-financial-insights tag-how-to-grow-your-business tag-small-business tag-staying-competitive tag-trending-news business_type-small-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/what-is-petty-cash\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1280373749-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1280373749-684x384.jpg 684w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1280373749-768x432.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1280373749-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2025-05-01T11:04:00-04:00\">May 1, 2025<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">10 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tWhat is petty cash?\u00a0\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-3 post-12909 post type-post status-publish format-standard has-post-thumbnail hentry category-strategy-legal-operations category-trends-insights tag-bookkeeping tag-business-finances tag-business-intelligence tag-cash-flow tag-data-analysis tag-electronic-payments tag-financial-insights tag-midsized-business tag-small-business tag-staying-competitive business_type-small-business business_type-medium-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/scenario-planning\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0678-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0678-684x384.jpg 684w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0678-768x512.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0678-1214x810.jpg 1214w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2025-05-01T09:00:00-04:00\">May 1, 2025<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">12 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tScenario planning: What it is, how it\u2019s used, and its benefits\u00a0\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-4 post-12865 post type-post status-publish format-standard has-post-thumbnail hentry category-strategy-legal-operations category-trends-insights tag-business-finances tag-business-intelligence tag-how-to-grow-your-business tag-inventory-management tag-midsized-business tag-small-business tag-staying-competitive tag-supply-chain-management business_type-small-business business_type-medium-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-ca\/blog\/fifo-vs-lifo\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1181223319-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1181223319-684x384.jpg 684w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1181223319-768x432.jpg 768w, https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/04\/GettyImages-1181223319-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2025-04-18T09:39:00-04:00\">April 18, 2025<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">7 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tFIFO vs LIFO: Key differences, formulas and examples\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Read this article to check those year-end boxes and make sure your payroll is up-to-date and accurate going into the next year.<\/p>\n","protected":false},"author":1310,"featured_media":8753,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"sage_hide_published_date":false,"sage_hide_read_time":false,"sage_hide_share_buttons":false,"footnotes":""},"categories":[7],"tags":[266,199],"business_type":[3],"lilypad":[],"context":[],"industry":[],"persona":[],"imagine_tag":[],"coauthors":[324],"class_list":["post-8752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-matters","tag-business-finances","tag-payroll","business_type-small-business"],"sage_meta":{"region":"en-ca","author_name":"Roger Pierce","featured_image":"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2022\/11\/BrandShootLDN_Jul2022_ProfSvcs_0646-JPG-Sage-Advice.jpeg","imagine_tags":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice Canada English","distributor_original_site_url":"https:\/\/www.sage.com\/en-ca\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/posts\/8752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/users\/1310"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/comments?post=8752"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/posts\/8752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/media\/8753"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/media?parent=8752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/categories?post=8752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/tags?post=8752"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/business_type?post=8752"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/lilypad?post=8752"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/context?post=8752"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/industry?post=8752"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/persona?post=8752"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/imagine_tag?post=8752"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-ca\/blog\/api\/wp\/v2\/coauthors?post=8752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}