Question
how to handle cpp accruals (both sides)
I pay salary once a year and do NOT have quickbooks payroll for 1 employee once a year
I need to accrue the salary and income taxes and cpp employer at year end so that my business deduction ends up in the right year
I need to accrue the money I withhold for employee portion of cpp
Then once a year I write a check to the employee and deduct from the salary the income tax and the employee cpp
and another check to revenue canada
both sides of cpp and income tax
no matter what I do with liability accounts I cannot seem to get it all to zero out at the end of the cycle
Any suggestions??
franks