When consulting with our accountants for the upcoming 2015 audit they gave us the heads up that their main focus will be in the whole area of payroll procedures and T4 filing. Thank you for the tip!
In early January I will provide a complete "Payroll Overview" but for today in preparation for year end I wanted to give you some helpful resources on reconciling and completing the T4 & T4 Summary Reports.
Auditor's Comments: We observed common problems for all churches in the area of accuracy of CPP, EI and taxes payable; the total of these amounts should agree to remittances made to CRA. Also, tighter controls are to be in place over the T4 Filing.
Serving with You,