Plan Ahead

The key to a headache-free year-end is all in the prep you do beforehand. It’s kind of like painting a room. All that extra time you spend cleaning and taping at the beginning will save you hours of frustration.

To save yourself some time this year, start with a plan. Check out this year-end checklist for a round-up of all the tasks and timing to get your year-end on track.

Get Your Facts Straight

Now’s the time to tie up any loose ends. To get a good start on year-end, you want to be sure you’re working with the right information. Whether it’s just you or you’re working with your HR team, take the time now to verify that all employee records are up-to-date.

Double-check to see if there have been any departures, and make sure your payroll system is accurately updated. Always ensure accurate social insurance numbers are being reported.

Reconcile Early

Even if you’re reconciling payroll before each cycle, you’ll still need to do a more thorough reconciliation at the end of the year. This is easier if you’ve been consistent, as the chances of errors drop.

But mistakes can slip through the cracks, and you’ll need to find them before creating year-end reports, filing tax documents to the CRA, and sending tax slips to your employees—all wages and payroll deductions for the year must be accurate.

Review Your Processes & Reports

Take the time to review your payroll software set-up to ensure your employees’ earnings, taxable benefits, and payroll deductions have been programmed accurately.

It’s helpful to have payroll software that can easily pull data for you. If you use Avanti’s HCM software, you get advanced reporting capabilities with a library of 175+ standard reports and custom reporting at no extra cost, plus automatic scheduling for sending reports. Features like this are super helpful when you need quick access to your data.

Set Your Employees up for Success

If you’re like any other payroll professional, you probably get a lot more requests for information around T4 time. To get ahead of those queries this year, get your team up to speed on your process.

Send out an email letting them know when they can expect their T4 form and where they can find it when it’s ready. If you have members of your workforce working from home, let them know they will receive a T2200 form (now is also the time to get those T2200s ready).

Some of your employees may need more information on how to read their T4s. Be sure to include our employee guide in your email to help them navigate their paperwork. You’ll be surprised how much one email will reduce the number of requests rolling in.

Keep in Touch With Your Community

No one knows payroll processing better than you and your peeps, so reach out if you need to. It’s nice knowing you have a support group that’s going through year-end with you.

And don’t forget to have the contact information for CRA and NPI on hand—they’re great resources to rely on when you get stuck, and they are always happy to help.

And Most Importantly, Give Yourself a Break

Year-end isn’t a sprint. It’s a marathon that’ll keep you on your toes for the next couple of months. That’s why it’s important for you to take breaks and recharge as often as you need. Try some of the following self-care methods to help you stay calm, cool, and collected.

Eat Well & Stay Hydrated

This is not the time to throw healthy eating habits out the window. Prep meals ahead of time when you know you have a busy week ahead of you. Keep menus on hand for all your favourite healthy takeout options, and drink plenty of water.

Get Moving

If you’re in need of more energy, take a moment to fit in some physical activity. Visit your local gym, go for a swim, take a nature walk, hit up a yoga class, or stream a workout at home. Any of these activities will help to boost your energy levels, reduce stress, and elevate your mood.

Go Offline

Taking on the additional workload of year-end can be tiring. When you’re feeling bogged down during your work day, be sure to give yourself a screen break.

Keep Up With Sleep

Good sleeping habits are key to staying healthy and productive. To make your sleep as restful as possible, try using a meditation or a sleep app, keep your room cool and dark, and diffuse a relaxing essential oil in your room before bed.

Treat Yourself

A great way to stay motivated and take a few breathers during year-end is to give yourself goals and treat yourself when milestones are hit.

Tax slips are ready? Go get a massage.
Checklist accomplished? Order in.
Email sent to the team? Grab a bath bomb and relax in the tub.

Remember, it's not selfish to take care of yourself. It's necessary.

What other tips would you share with other members to help them cope with the year-end season? Tell us in the comments section below.

Sources:

• Avanti