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Rise & Shine Bakeries Ltd. is a retail and industrial bakery outside of Vancouver that supplies restaurants and street vendors with fresh baked goods. The main bakery and two retail locations employ fifteen salaried, hourly, and part-time employees.
Issue
The office manager prepares the payroll for all employees and the cheques are distributed every second Friday. She has been working 11 hour days and is frustrated dealing with changes to the Tax Act. A mistake last year in calculating the payroll tax remittance took her several days to straighten out and cost the bakery a 10% penalty fee.
Objective
Reduce the amount of time spent on administrative tasks, including staying current on payroll legislation, and cut costs wherever possible.
| Printing, signing & distributing the pay cheques and government remittances currently takes thirty minutes every two weeks. |
$15.75 |
| Blank cheque stock, stationery and processing fees. |
$17.98 |
| Per pay cost to: Keep current on changes in deduction rates, issue T4 slips and records of employment |
$13.60 |
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| Total Cost: |
$47.33 |
Solutions
Using an automated payroll service to process and direct deposit their payroll will save the company over $450 annually and reduce administrative time spent by at least 29 hours.
Whether you prepare your payroll in-house or wish to outsource all your payroll processing, Scotiabank can save your company time and money.
If you prepare your payroll in-house consider Scotia Direct® and pay all your employees by direct deposit. It is fast, convenient and you save on all the cheque preparation, storage and handling costs and minimize the risk of loss. You also save money with fewer chequing transactions through your business accounts. And, your account reconciliation is easier because you have a detailed payments file and receive comprehensive reports on your Scotia Direct disbursements.
Once you have Scotia Direct, you can make other payments to employees, such as travel expense allowances, or even pay your suppliers.
If you prefer to outsource all your payroll processing, including all government remittances, consider an Automated Payroll Service from ADP Canada.
ADP, through a strategic alliance with Scotiabank, offers a full range of payroll and human resources information services to Scotiabank customers. Consider:
- Telephone Payroll for independent business customers with 35 or fewer employees.
- PC Payroll Solutions for mid-sized and larger organizations.
- Human Resource Information Systems for companies that require quick and easy access to comprehensive human resources information for HR reporting, absence tracking, benefits analysis and much more.
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