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Quick Guide to Payroll Timelines for the 2023-2024 Holidays


The holiday season – a time for joy, celebration, and, yes, a bit of extra planning! But worry not; we've got your back. Let's dive into a quick guide on ensuring a seamless payroll process for both you and your fantastic team.



Most banks are closed for the holidays and you may need to process your payroll three (3) to five (5) working days before the desired pay date to pay employees using direct deposit. This is to ensure that all your employees and contractors are paid on time.


The table below shows the payroll schedule from a popular payroll processing software, Wagepoint. You can use it as a guide for your payroll processing dates.


If your pay date falls on:

Standard 3-day processing schedule

Approve your payroll by:

5-day processing schedule.


Approve your payroll by: 

Monday, December 25, 2023

Christmas Day

Wednesday, December 20, 2023

Monday, December 18, 2023

Tuesday, December 26, 2023

Boxing Day

Wednesday, December 20, 2023

Monday, December 18, 2023

Wednesday, December 27, 2023

Wednesday, December 20, 2023

Monday, December 18, 2023

Thursday, December 28, 2023

Thursday, December 21, 2023

Thursday, December 21, 2023

Friday, December 29, 2023

Friday, December 22, 2023 (Last date to process a direct deposit payroll for a pay date in 2023.)

Wednesday, December 20, 2023 (Last date to process a direct deposit payroll for a pay date in 2023.) 

Monday, January 1, 2024

New Year’s Day

Wednesday, December 27, 2023

Thursday, December 21, 2023

Tuesday, January 2, 2024

Wednesday, December 27, 2023

Thursday, December 21, 2023

Wednesday, January 3, 2024

Thursday, December 28, 2023

Friday, December 22, 2023

Thursday, January 4, 2024 

Friday, December 29, 2023

Wednesday, December 27, 2023


There you have it – your friendly guide to navigating payroll during the 2023-2024 holidays.

After the holidays, you can follow your regular processing timelines for payroll. Here's to a festive season filled with joy and gratitude! 🎄🌟


 

Holiday Closure



Please be advised that our office will be closed for the holidays from December 20th, 2023 to January 2nd, 2024.



 

Clearly Financials offers cloud-based accounting and corporate tax services to small businesses in Edmonton, AB. We provide a full suite of services including: bookkeeping, payroll, GST filing, compiled financial statements, and corporate tax returns all designed to help your business succeed.


Our team is dedicated to getting small business owners up and running quickly, which is why we offer Business Foundation Services such as business plan creation and business structure selection (e.g., incorporating or operating as a sole-proprietor). With our Business Performance Management services, we help you grow your business and profits by setting goals, creating budgets, and forecasting.


Our office is conveniently located in the heart of Old Strathcona, and we offer easy online scheduling so you can book an appointment at your convenience.


Whether you're just starting out or you're looking to take your business to the next level, Clearly Financials is here to help. Contact us today to learn more.

 

Disclaimer

The information provided in this blog post is a simplified overview of complex matters and may not cover all the nuances of your particular accounting or tax situation. The content is intended for general educational purposes only and should not be taken as legal or financial advice. We strongly recommend consulting with a qualified professional before making any financial decisions based on the information provided. Please note that tax laws and regulations can change frequently, and we cannot guarantee the accuracy or completeness of the information provided in this post.

 

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