That Payroll Thing

In a world where everything is provided for us, there would be no need to go out and work.  It sounds rather utopian – kind of like a “Garden of Eden” or “Shangri La” scenario or something similar.  As this is generally not the case, it’s like the Snow White song says (and I paraphrase): “I owe, I owe, so off to work I go…”.  Since we have to work or earn a living anyway, it would be kind of nice to get paid for it…. right?

For many of us, this means drawing some form of pay.  In other words – being on payroll.  Now we all know that part of the joy of earning and getting paid money is the joy of paying taxes.  Yes, I know, a bit of a downer.  Regardless, governments at various levels need the money to function.  I won’t get into how efficient they are at managing our tax dollars as they do this.  That’s a debate I’m not prepared to have.  You’d think they get enough money from value-added taxes like PST and HST.  Oh well…  The whole business of withholding taxes for government is part of what makes payroll such a challenge.

Managing a payroll is one of the most challenging jobs faced by bookkeepers.  Many larger companies have dedicated departments that do nothing but.  There are also companies that specialize in providing nothing but payroll services.  In the case of us here at Fiscal Performance, payroll is one of the primary functions that we offer our contracted clients.  Regardless of who does it, it must be done right and on time.

Consider that for all of us who draw a wage, salary or commission, our pay is what we need to live on.  Often, pay is crucial for the very basics of life to go forward.  Very few of us have the luxury of working just for the fun of it.  We need the money and we need it in a timely fashion.  Just to compound the fun for bookkeepers, government also insists on getting their money in a timely fashion.  Go figure!  What’s more, there are penalties and interest to be paid when they don’t get their money on time.

Okay, so it sounds like it’s only a matter of plugging some numbers into the accounting program and – voila – payroll is taken care of.  In its simplest form this is true but there is more.  What also needs to be taken into consideration are the myriad rules and regulations with regards to:

  • Tax tables and remaining with the most current editions
  • CPP (Canada Pension Plan)
  • EI (Employment Insurance)
  • WSIB (Workplace Safety and Insurance Board)
  • Union and like dues where applicable
  • Additional withholdings
  • Payroll differences for wages, salaries, commissions
  • Taxation on bonuses and company perks
  • Vacation allowances and payouts
  • Statutory holiday payouts
  • Garnishment procedures
  • T4’s, T4 Summaries and similar reporting forms
  • Records of Employment for departing staff
  • Proper remitting of monies to various levels of government
  • Etc.

Just to make it more interesting, all of the above must be done correctly.  People depend on this and so does government.  It’s like the old saying “ignorance of the law is no excuse”.  Anyone involved with payroll needs to stay on top of their game – and the rules and regulations.  One of the biggest challenges is that things are always changing.  Kind of make you want to go out and hug your bookkeeper or payroll person the next time you see him or her – right?

Here at Fiscal Performance, we are keenly aware of the importance of payroll and we strive to get it right – on time and every time.  We thank our many clients for entrusting us with this most important task.  If it sounds like this could be something that would be of use for your business, I would be most happy to meet and discuss this with you.

In the mean time…” it’s off to work we go”…

Stay well,




Meet Vaidehi, a dedicated and professional Bookkeeper since 2021, who proudly supports and assists her clients. Her efficiency and expertise shines through her seamless handling of her clients’ financial records including Accounts Receivable, Accounts Payable, Bank Reconciliation and client communication. Trust Vaidehi to provide the support and solutions you need. During her personal time, Vaidehi enjoys dancing, cooking and tending to her garden.


Bookkeeping Manager

Introducing Tinna, our resourceful and dynamic Bookkeeping Manager with over 12 years of hands-on experience. An expert in all aspects of accounting and finance operations, she handles preparation and maintenance of statutory accounting books, reconciling revenue and expenditure accounts, overseeing the preparation of monthly, quarterly, bi-annual and year-end financial statements, implementing stellar accounting systems and controls, budgeting and financial projections. Tinna’s solid background in managing both financial and non-financial assets, investigating and auditing accounts, makes her an asset to the Fiscal Performance team.


Executive Director

A true believer in the power of streamlined workflows and strategic financial planning, Duane is not just about balancing the books; he is also about balancing success with sustainability, innovation with tradition, and growth with groundedness. Bringing together a blend of expertise, experience, and enthusiasm, he is focused on improving systems to continue on providing a high level of customer service to all of Fiscal’s partners, customers and vendors. He invites you to join the Fiscal Performance network and learn how to solve your accounting and bookkeeping challenges today.


Client Service Manager

If you’re seeking a bookkeeper with a passion for precision, a friendly demeanor, and a love for the beautiful game of soccer, then look no further than Olusegun. With over 10 years of experience with auditing and financial analysis, Olusegun brings a unique blend of expertise and enthusiasm to the table. Known for his approachable demeanor and willingness to go the extra mile, he’s not just your typical accountant – he’s a trusted ally in your company’s full cycle financial management. So, if you’re in need of a bookkeeper (with auditing know-how) who gets the job done, valuing integrity and reliability as part of every job, Olusegun is your go-to guy!


Task Manager & Quality Control

Sam is a seasoned Bookkeeping Manager with over 14 years of experience. Proficient in book cleaning, reviews, HST report preparation, and finalizing accounts using QuickBooks, he holds a Bachelor’s degree in Law, and Master’s degree in Commerce. Sam is known for his dedication to meeting deadlines, his collaborative work ethic, and equal prioritization of family and work. A nature and pet lover, he finds solace in music.



Meet Alex, a highly esteemed member of our team, whose accounting expertise spans back to 2015. Holding a semi-qualified Chartered Accountant designation and a post-graduate in Accounting (achieved in 2018) Alex remains steadfast in catering to the needs of clients. Over the course of this distinguished career, Alex has cultivated invaluable proficiency with an array of esteemed accounting software. Renowned for unwavering punctuality, Alex consistently maintains a proactive approach, ensuring meticulous oversight of all deliverables.



Meet Eric, a distinguished professional with a Master of Commerce and a semi-qualified Chartered Accountant. He boasts three years of specialized experience in Canadian and US accounting, using software such as QuickBooks Online, QuickBooks Desktop, and Dext. Eric’s proficiency shines through his seamless handling of onboarding, migration, clean-up, and catch-up projects. Renowned for his tech-savvy approach, Eric leverages his expertise in advanced Excel macro building to empower clients — enhancing their productivity and efficiency. Trust Eric to deliver unparalleled financial solutions tailored to your specific needs, ensuring excellence every step of the way.



Jess is a dedicated Bookkeeper, with a Bachelor of Accounting, who is proud to assist her clients with bookkeeping support, since 2020. Jess is well-versed in a suite of software programs with a focus on QuickBooks Online. Her expertise extends beyond conventional bookkeeping, encompassing Accounts Receivable, Accounts Payable Management, Payroll processing, and adeptly managing the books as per client specifications and needs. She stands out for her swift file processing capabilities and streamlined financial processes at Fiscal Performance.


Task Manager

Meet David, Fiscal Performance’s Task Manager. A distinguished accounting & finance professional since 2014, David is adept in leadership roles. Known for his advanced skills in process implementation and continuous improvement, David works to ensure optimal outcomes for clients. With extensive experience spanning global markets including Canada, USA, UK, and Australia, he specializes in providing comprehensive CFO & bookkeeping services. Proficiency in a variety of accounting software enables him to tailor solutions to meet his clients’ needs effectively. David is detailed oriented and his ability to deal with conflicting priorities in high-pressure situations makes him an VIP at Fiscal Performance.



Introducing Chris, a Reviewer at Fiscal Performance and a seasoned professional in the accounting & finance industry. He boasts a career, starting in 2017, that includes executive roles to team leader positions. A post graduate in accounting, he is proficient in software such as QuickBooks Online and QuickBooks Desktop. Chris has honed his skills over the years, optimizing his bookkeeping processes by prioritizing accuracy and efficiency. Known for his dedication and meticulous approach, Chris consistently seeks out innovative solutions to streamline operations and deliver top-tier results. His commitment to excellence and his proactive attitude makes him an invaluable asset at Fiscal Performance.

Tracy Khamis

CPB, DFA – Bookkeeping Services Specialist™

Managing Director

Always wanting to learn and gain knowledge, Tracy has worked for multiple companies from various industries. Having the opportunity to work in varied industries from small companies to large organizations such as banks, accounting firms, schools, restaurants, construction, manufacturing and the arts has been extremely exciting. Each industry has different rules that apply, along with different government requirements. This experience has provided Tracy with extensive growth and understanding of bookkeeping, multiple software platforms, and in-depth financial report preparation. To know Tracy is to appreciate what she can do to put your books in order and keep them in a timely, relevant and professional manner.

Office: 1-905-662-9437
Mobile: 1-905-818-5328
Email: [email protected]