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Provide the process steps for the monthly Management payroll including the person who will perform the steps. Make sure you consider confidentiality and controls with
- Provide the process steps for the monthly Management payroll including the person who will perform the steps. Make sure you consider confidentiality and controls with respect to salary amounts, vacation and sick leave entitlements, and recording of the salary expense in QBO. Assume that the payroll service provider will be able to:
- Accept online input of monthly worked, vacation, and sick hours from employees.
- Obtain the necessary online approvals prior to processing the monthly payroll.
- Provide employees with online access to paystubs and T4s, along with electronically depositing net paycheques.
- Remit deductions and benefits to CRA and Alberta Blue Cross.
- Provide online payroll reports to authorized staff members.
- ECI will have to transfer funds to the payroll service provider to cover net paycheques and 3rd party remittances. Also, the recording of salary expenses in QBO will have to be done manually.
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