I have recently incorporated (provincially) and providing IT services as an employee of my incorporation. Its been couple of months and I need to run payroll for myself. Am not sure where/how to start.

Am new to this incorporation/running payroll business, hence clueless.

Can someone provide me with steps involved that I need to follow to run payroll for myself through incorporation owned by me?

  • 1
    Hi Chandu, and welcome to Freelancing! I understand you have a problem with how to start doing payroll, etc., but asking polling questions or product recommendations don't make for good questions on the SE network. Try to reword it to just be about the problem, not asking for a product. Thanks!
    – Canadian Luke
    Dec 18 '13 at 0:52
  • @CanadianLuke Thanks for the inputs. I agree that seeking product recommendations is not inline with the SE guidelines. But I am pretty much in look of a recommendation. Would you know which forum would be apt for these questions? I will remove the question shortly.
    – Chandu
    Dec 18 '13 at 0:56
  • Not sure about Canada but in the UK you don't have to payroll your self in that way if you are the only person involved in the business. You are the owner not an employee here!
    – tim.baker
    Dec 18 '13 at 0:57
  • @Chandu The edit looks good now, and this question is very much on topic. I wouldn't recommend asking in another place on the SE network.
    – Canadian Luke
    Dec 18 '13 at 1:25
  • @tim.baker There are certain reasons why some Canadians are single-employee companies, and want to pay themselves a low wage. While the reasons aren't important, they are there, at least for Canadians
    – Canadian Luke
    Dec 18 '13 at 1:26

The first step is to start with time tracking. I would recommend ManicTime which has a variety of tools to manage and report on your time. http://www.manictime.com/

You will then need to use any of a large variety of accounting software to apply Canadian payroll and income tax regulations. This can be done in Excel or a custom application like Quickbooks.

At this point, it might be worth a look at getting a local chartered accountant to handle your payroll, or even setting up an ADP account.

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