Payroll Services Toronto

Professional Payroll Accounting Services Canada

An organization’s payroll department is responsible for ensuring that employees are paid on time and that all contractual and tax obligations are met. Payroll is crucial in every business as it affects the net income of most organizations. Source Accounting Professional Corporation is there to help you with all your payroll issues effectively and efficiently.

Our CPA Is Here To Help

Why Get Professional Payroll Services?

There are a lot of things involved in handling payroll work. To begin, you must ensure that pay dates and deadlines are met and that tax regulations are followed. Failure to do so could result in a slew of penalties that would cost the company a significant amount of money.

Moreover, this work is always error-prone as it involves so much data entry, and errors and tax issues will always be more likely to occur during manual data entry. You can end up paying a lot more or a lot less to your employees, which could result in impactful compensation claims. That’s the reason you should look into hiring a professional and reliable payroll services provider like Source Accounting.

What We Can Do?

Source Accounting Professional Corporation has earned the reputation of being a reliable payroll service provider in Canada. We offer professional payroll services to our clients regardless of the size of their business or the number of their employees.

We prepare your payroll, deposit money into your employees’ accounts, make entries, send taxes and other deductions to the Canada Revenue Agency (CRA), and make and report payroll returns.

We take the following measures to ensure that you remain in compliance with CRA, Service Canada, Ontario Ministry of Labor, and Workplace Safety and Insurance Board (WSIB):

Complying with employee's information / SIN / privacy information regulations
Timely and correct deductions (such as CPP, EI, and taxes) are made from the salary
The amount deducted from the employee and the employer's portion is timely remitted to CRA
The employment record is issued to Service Canada in case of interruption of an employee's earnings
Vacation pay, statutory holidays, overtime, sick leave, etc., are calculated correctly
Registration with WSIB and remittance of premium
Issuance of T4 to employees and T4/T4 Summary filing with CRA
Payment of Employee's Health Tax (EHT)
Annual Reporting requirement WSIB, EHT, etc.

These procedures can be time and labor-intensive, and non-compliance to the regulations can cost a lot to the business owner. That’s where Source Accounting comes in. We do all this for you while you sit and hire our professional services from the comfort of your office or home.

Boost your productivity and up your financial game by hiring reliable payroll accounting services today!

Benefits of Choosing Our Payroll Services

Choosing a payroll partner can make or break your business, so you need to select the right one. Here are some benefits you can enjoy by choosing Source Accounting as your payroll service provider.

Guaranteed savings

One of the best perks of choosing us is we make sure to save you some bucks that might look like a lot in the long run. We manage everything so precisely that you don’t have to pay any unnecessary costs, as you’re saved from mistakenly overpaying your employees.

More time to focus on critical decisions

Processing payroll is a work of extreme precision. Garnishments, benefit deductions, new hiring, terminations, and paid time off are everything that should be observed and followed consistently. All of this takes a lot of time and effort and can deviate your focus from important business decisions as a business owner. We take care of everything payroll related so you can focus on more productive tasks.

Enhanced security

Payroll processing is a highly complex process and requires loads of monitoring due to the numerous risks involved. Even if your employees are trustworthy, it requires extreme security and tracking. We at Source Accounting utilize the state of the art technology to process all the payroll with automated technology that notifies us in case of any fraud. This makes choosing us a smart investment move that you’d make.

Professional Payroll Services in Canada You Can Rely On

Effective payroll management is crucial to the success of any business as it helps in employee retention and other finance-related tasks. Most companies outsource payroll services as these people don’t need to work from the office, also helping the company save money.

At Source Accounting, we’re a team of professionals dedicated to providing you with the most accurate and reliable payroll services in Canada so your business doesn’t lag by any chance. Our decades of experience giving payroll services span dozens of industries, including IT, real estate, medium-sized businesses, and start-ups.

Why Choose Us

1. Customized payroll services

As our clients are like a family to us, we try to understand the needs of each client’s business while offering them our services. We choose the most efficient solution tailored to your business’s needs to save you time and money in the long run.

2. Expert guidance

Most of the time, business owners and employees don’t have the necessary accounting and financial skills to make the most out of the revenue, which sometimes can cause a business to be left behind. At Source Accounting, we offer expert advice to our clients to help them make well-informed financial decisions.

3. Unmatched accuracy

If you don’t get your payroll numbers right, you’ll get in trouble with the IRS and disappoint your employees. In order to guarantee that your employees are paid accurately and promptly each time, you should make an investment in Source Accounting payroll services. We ensure that the numbers are always correct so that you won’t be audited by the government and you won’t lose the trust of your employees by forgetting to pay them for overtime or getting the wrong number of hours.