Payroll Taxes

When dealing with payroll, how accurate are the automated taxes? I use a spreadsheet as well to calculate payroll; CPP & EI are always accurate, but the taxes are always a little off compared to the T4032 tables I use - and I am using the 2023 Tables. So I've always adjusted Sage to match my spread sheet and I'm wondering if I should leave the automated taxes and adjust my spreadsheet?

Parents
  • 0

    The tables provide a single tax amount for a range of income amounts.

    Sage uses the formula provided by Revenue Canada using the exact income amount.

    I have always thought Sage to be more accurate unless you are using the long complex formula as well.

Reply
  • 0

    The tables provide a single tax amount for a range of income amounts.

    Sage uses the formula provided by Revenue Canada using the exact income amount.

    I have always thought Sage to be more accurate unless you are using the long complex formula as well.

Children