What is a payroll period?
It's the regularly scheduled pay time, like bi-weekly or semi-monthly. Semi-monthly workers get paid twice a month and 24 times a year, while those on a bi-weekly schedule get paid every other week and 26 times annually. For instance, a semi-monthly period might run from May 1st to 15th.
What is a remittance period?
It refers to the frequency at which you are required to submit payroll payments to the Canada Revenue Agency. This is determined by your payment date, not the payroll cycle dates. For instance, if the CRA sets your remittance as monthly, you must submit your payroll remittance by the 15th of next month, regardless of your pay cycle.
The calendar above shows that there are five payment dates in May. The May 1st payroll, for work done in April, still count for April because the CRA goes by payment dates, not work periods. As a monthly remitter, you need to submit all of May's remittances by June 15th.
*Note if you use PayEvo for remittances, we'll send payment based on when you transfer electronically. If you pay workers differently and need a different remittance period, please Contact Us to request that change.
Closing your remittance period
*Note if you use PayEvo for remittances, we'll send payment based on when you transfer electronically. If you pay workers differently and need a different remittance period, please Contact Us to request that change.
Closing your remittance period
We recommend you close your remittance period after the final pay run within your remittance period, like the payroll for May 31st in the example above to submit all of May's remittances. Closing this period generates a report detailing your dues to the Canada Revenue Agency and Revenu Québec. To make timely CRA payments with our ePay service, close the payroll period at least 5 days before the due date.
How to close your remittance period
How to close your remittance period
A. You can close the period by going to the left-hand menu and select Actions.
B. Select End of Period.
C. Click Yes, close period to process the period-end reporting.
D. Send payroll GL to Accounting Software.
E. Click Next.
F. Now you have closed your remittance payroll period and received your period-end reports (Remittance Reports, GL Reports, Period to date journal).
Hint: A prompt may ask if it's a new remittance period at payroll start. This means you missed closing the last one. Say yes if that's the case.