Step 1 - Prepare for Year-End

In this article, we'll provide a list of important dates and deadlines and outline the things to do to prepare for Year-End, such as:

1. Review important dates
2. Schedule a year-end meeting with stakeholders (IT, HR, Finance)
3. Update Payroll Tax Remittance Frequency to avoid fines
4. Confirm all taxable Benefits, Deductions, and Income Types have been set up accurately
5. Add any manual cheques to Payroll so they’re included on tax slips

Part 1 - Review Important Dates

One of the best things you can do to prepare for a successful year end is to review all important payroll dates and deadlines.

This is an important step because statutory holidays can impact and overlap run-by deadlines, and since many people take extra time off around holidays, that can further alter timelines.

Part 2 - Schedule a Year-End Meeting with stakeholders (IT, HR, Finance)

Meeting with IT, HR, and Finance stakeholders to educate them on the payroll year-end process will help set you up for a smoother year-end.

Since every organization is different, we can't tell you exactly what to talk about, but this meeting should help them understand how they can help, and provide a timeline of events that may impact their roles.

Part 3 - Update your Payroll Tax Remittance Frequency

Update your Payroll Tax Remittance Frequency prior to your first 2025 payroll run to avoid CRA penalties.

The CRA determines when you must pay (remit) payroll source deductions as an employer.

RQ will estimate your frequency at the end of the year and notify you of any changes.

Part 4 - Confirm all taxable Benefits, Deductions, and Income Types have been set up accurately

Reviewing your Benefit, Deduction, and Income Types within Humi Payroll is simple. All you have to do is click on it to quickly see how the tax is set up.

How to review the tax setup for benefits, deductions and income types in Payroll:

In this example, we'll describe how to check the tax setup for your benefits, however, the steps are exactly the same for reviewing deductions and income types, respectively.

1. In Payroll, click on the Benefits & Deductions tab and select Benefits from the dropdown.
2. On the Benefits page, click on the benefit you want to review.
3. The section on the right shows how the benefit tax is set up.

Use these links for more information on Benefits and Deductions and Income Types.

Part 5 - Add any income paid to employees outside of Humi in 2024 to the Year-End Adjuster

If you've paid an employee manually (i.e. outside of the payroll system via cheque or other method) and that amount is required to be on a tax slip, you must add it to Humi before year end using the Year-End Adjuster.

To do this, please submit a support ticket to Humi’s support team.