How to Run Payroll {FREE TEMPLATE} - EASY Step-by-Step Guide for Small Businesses

Payroll doesn’t have to be complicated—or expensive! In this step-by-step tutorial, Paul guides you through our free payroll template, designed specifically for incorporated business owners.

With this template, you’ll learn how to:
➡️ Pay yourself as an employee while staying compliant with CRA rules
➡️ Calculate payroll amounts, make remittances, and file T4s with ease
➡️ Manage payroll without the need for pricey software

This straightforward solution is perfect for small business owners looking for an efficient way to handle payroll without the hassle.

👉 Download the free template today and get started!

#PayrollTips #CanadianBusiness #SmallBusinessFinance #AvalonAccounting

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🎥 CONTENTS OF THIS VIDEO

00:00 - Intro
00:32 - Template Overview
01:39 - Step 1 - Information Gathering
05:39 - Step 2 - Calculate Payroll Amounts and Pay Employees
11:51 - Step 3 - Make Payroll Remittances
16:06 - Step 4 - File T4s with the CRA and Distribute Them to Employees
23:17 - Final Thoughts

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🔗 MENTIONED IN THIS VIDEO

► Payroll Template

► Payroll Template Instructions

► How to use CRA My Business Account

► How to complete a TD1 form

► How to use the CRA payroll deductions calculator

► Best payroll software

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🅰️ AVALON ACCOUNTING

Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada.

We provide online bookkeeping, accounting services, payroll and expert financial advice for small businesses.

We are on a mission to educate small business owners through our YouTube channel, blog and free resources. Check out our links below to dive in.

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🧑‍🏫 ONLINE COURSES
► Take your business to the next level with our online courses.

✅ ESSENTIAL FINANCIAL CONCEPTS FOR SMALL BUSINESSES (🆓FREE COURSE)
► Keys to building a business that provides owners with time, money and purpose.

🖥️ LEARN MODERN BOOKKEEPING
► Learn to do your own bookkeeping with modern tools and our proven practices.

📈 BOOKKEEPING AND TAX FOR FREELANCERS
► This course teaches sole proprietors how to simplify bookkeeping and taxes.

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If you are looking to incorporate (in Canada) and want to save some cash, check out Ownr with our affiliate link for 20% off incorporation costs:

We may receive compensation when our link is used to sign up with OWNR

[calsworkshop]

awesome video and template do you have a version with CPP2 added?

[BonganiMoiane]

Posted two days ago, and just in time for when I needed it most. Thank you, all the way from South Africa, I always modify your templates to suit my company needs and regulatory frameworks applicable to us