Payroll Records

All but the smallest businesses will, at some point in time, have employees besides the owners. Federal law requires that, as an employer, you must collect, on behalf of the government, Unemployment Insurance premiums, Canada Pension Plan contributions, and personal income taxes.

To keep track of employee payroll, you will need the following:

1. A log book to record the hours your employees worked, their gross pay, and the amount of payroll deductions that you made. You can find these types of payroll books at most stationery stores.
2. The appropriate forms from Revenue Canada, including Payroll Deductions Tables.