The Importance of Payroll Reconciliation and Balancing: Avoiding the PIER

Date & Time
Friday, September 13, 2024, 11:00 AM - 12:15 PM

Is enough attention paid to reconciling an organization or client’s payroll accounts?  Do you dread the potential of receiving a Pensionable & Insurable Earnings Review (PIER) report every year? It is crucial to avoid the penalties associated with a PIER report.  Participate in this session that focuses on the importance of reconciliation and balancing in order to address payroll issues before they become a problem.

Topics covered include:

  • Why do you receive a PIER? 
  • Canada Pension Plan (CPP) and Employment Insurance (EI) regulations review 
  • The Canada Revenue Agency’s (CRA) PIER process 
  • Common errors to avoid 
  • What to do when you receive a PIER 
  • Practical tips and examples 
  • Penalties and appeals 

Learning objectives:

  • Understand the significance of payroll reconciliation and balancing in mitigating potential issues
  • Gain insights into the factors contributing to the issuance of a PIER report
  • Develop strategies for effectively managing and responding to PIER reports
Managing Business
Virtual Access
1.25 CPD units