Have a Lovely Long Labour Day Weekend

labour-day2016-bannerWe would like to remind our customers that the Telpay offices will be closed on Monday, September 5, and will not be processing any payroll direct deposit or payable payments.

If you need confirmation on payment funding and processing times, check out our holiday funding schedule.

The Labour Day long weekend can be bittersweet as everyone says goodbye to summer. An extra day off provides a great opportunity to complete any unfinished activities on your summer wish list, whether you are planning a quick getaway or enjoying a day at the beach.

We hope that you are able to make the most of this long weekend. Telpay’s regular office hours will resume on Tuesday, September 6.

2016 Accounting Technology Seminar Coming to a City Near You

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Telpay is once again a proud sponsor of the Accounting Technology Seminar series. For over 24 years, the Accounting Technology series has helped thousands of professional advisors navigate the latest and greatest available technologies in the accounting and bookkeeping industry.

The tour will be traveling across Canada from October 4 to October 27 in all major cities. Get inspired, network with peers, and meet industry leaders. In addition, certified accountants and bookkeepers will earn eight professional develop credits.

Register Early and Win!
Register before September 1, 2016, and you will be entered for a chance to win an iPad. Many cities sell out quickly so reserve your spot now!

Locations and Dates | Register Now

Don’t Sweat the Postal Talks

sweat-talksAs the talks continue in the 30-day cool off period between Canada Post and the Canadian Union of Postal Workers, businesses are still sweating about the possibility of a mail disruption. Continue reading

Get Ready for Possible Postal Service Disruption

postal-disruptionDid you know that Canada Post and the Canadian Union of Postal Workers have been in contract negotiations since late 2015 to reach a new agreement? Already some of Canada Post’s biggest customers, including the federal government, are being told to make contingency plans ahead of a possible contract dispute with workers this summer. According to a CBC News Report on May 27, Jon Hamilton, a spokesman for Canada Post stated, “while the corporation is not trying to be alarmist, it has decided to inform some key clients about the possible service disruption.” Continue reading

New Director

marilyn-board-memberTelpay is pleased to announce the appointment of Marilyn Benninger as a new Director of the Board. Ms. Benninger is a Chartered Professional Accountant (CPA) providing strategic advisory services to leading software companies whose products serve the needs of small businesses, accountants, and bookkeepers. Previously, she held senior leadership roles at Telpay, MYOB and Sage.

Continue reading

How to Prevent Payment Delays During a Disruption in Postal Service

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With a possible postal service disruption looming in the near future, your clients will be happy to know that their electronic payments will not be affected by the potential disruption.  There may still be a few of your clients that are not making all of their payments electronically.  If this is the case, now is the perfect time to prepare your clients for switching their remaining cheques payments to electronic payments. To help them get started, here are a few ways to prevent payment delays should a postal disruption take place:

Start collecting banking information from your Canadian suppliers

Collecting banking information from your suppliers is often assumed to be a daunting task; however, it is quite the opposite.  Collecting banking information is as easy as sending an email to your suppliers using Telpay’s Biller Information Form.  This form outlines exactly the information needed in order to process an electronic payment to your suppliers.

Let suppliers know that they will be receiving an electronic payment

Start planning ahead and letting your suppliers know now why you would like to switch from mailing a cheque to sending an electronic payment.  You can let your suppliers know that you are processing electronic payments by sending them our Notify Your Suppliers form. The form is customizable (feel free to add your company logo!) and can assist in explaining to your suppliers what direct deposits with Telpay is all about. For example, let your know suppliers know that they will receive an email or fax remittance from Telpay once they have received an electronic payment to make reconciling payments easy.

Make sure all your current electronic payment details are up to date

While you are adding new suppliers to your electronic payments list, make sure that your list of suppliers that you have previously sent electronic payments to, is up to date.  Be sure to confirm and update their mailing address (including postal code), ten digit phone number and their banking information.  If there are any updates to supplier information that needs to be made, be sure to update this information in your accounting software as well as in the Telpay software.

When you are ready to start paying your suppliers electronically and adding their banking information to the Telpay system, you can walk through the process using our step-by-step instruction manual, attend a live training webinar or give us a call at 800-6650-0302

Don’t Be Tied to Your Desk This Summer

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Summer is in full swing and as Canadians; we know all too well how important it is to soak up the summer months while we can.  Here at Telpay, we want to help you spend as much of the summer months ahead out of the office and in the sun making memories doing what matters most to you!

For the entire duration of the summer, Telpay will be hosting remote authorization training webinars to help our customers learn how they can approve payroll and payments while they are away from the office.  There is no need to be tied to your desk this summer!  Join us for a remote authorization webinar and not only will you be learning how you can spend your summer months untied from your desk, you will also be entered to win a $50 Visa gift card.

Register for a remote authorization webinar today!

PLEASE NOTE THAT ALL WEBINARS ARE SCHEDULED IN CENTRAL TIME. Please adjust the webinar start times according to your time zone.

Fort McMurray

Our thoughts are with the people of Fort McMurray who are dealing with the horrific effects of the wildfires in northern Alberta. Many of us have friends and family there and we are all hoping that everyone stays safe until this is all over. You can help by making a donation to the Canadian Red Cross, either directly or through our Telpay for Business software.

Victoria Day – May Long Weekend

may2016-long-weekend

This year, Canadians celebrate Victoria Day on Monday, May 23rd. For many of us, this signifies the start of the summer months to come. Here at Telpay, we plan on enjoying the warmer weather,  and you should too!

Therefore, Telpay will be closed on Monday, May 23rd 2016 and no electronic payments will be processed on this day.

To ensure your payments go out on time around the long weekend, learn the required lead times for your payments with our holiday funding schedule.

All Your Bills Paid, In One Place

may16_paybillsTelpay’s bill payment feature has streamlined the payables process for many Canadian businesses.  We process payments for thousands of vendors and suppliers every day.    Telpay’s bill payment feature is designed as an all-in-one solution where you can pay any bill, including utilities.

We have specific features built around our utility payments to help streamline these tedious payment tasks.

Here are a few features that help make utility payments easy when processing through Telpay:

Multiple account numbers for one supplier

If you have multiple account numbers to pay to for one supplier, you can set up multiple account payments.  For example, if you have 10 Rogers Wireless cell phone accounts to pay, you can pay multiple account numbers and allocate the total amount due to each account number. To learn more about how you can start allocating payments to multiple account numbers, follow our step by step instruction guide.

Next day payment deposits

You have the option to fund your utility payments by sending your money to Telpay using your online banking system.  This option requires only 1 business day lead time to process your payments.  Your utility bill payment file and the funds for the file must be sent to Telpay by 3:00 PM, CST, 1 business day prior to your payment date.

No need to collect banking information

Utility payments are one of the most common payments processed by Telpay.  We have a large biller database for all utility payments types for across Canada.  This makes it easy for you to simply import your payments and click ‘pay’.  There is no need to collect banking information for your utility payments as Telpay already has this information stored for you.

Telpay will notify the utility supplier when the payment has been made

Once a payment has been made to your utility supplier, Telpay will notify them via email or fax when the electronic payments will be deposited.  The remittance report also summarizes who is paying them and the account numbers to make for an easy reconciliation process.  You can view an example remittance report here.

Mother’s Day Contest – Best Advice My Momma Gave

may-2016-mothers-day

We all get advice, especially from our mothers, right! Flashback to your childhood, when you used to hear your mother telling you to, “make sure you eat all your vegetables, brush your teeth and wear your mitts, because it’s cold outside.” It was good advice then and still good advice today.

Throughout life, you can always count on mothers to love, support and give advice…solicited or not…on everything from relationships, careers and even what not to wear. Do you have a mom in your corner loaded with good advice? If yes, we want to hear the best advice you got from your momma. Share it with us to win two $50 Visa Gift Cards, one for you and one for your wise mother.

So tell us some advice you got from your momma at telpay.ca/mom and enter for a chance to win with Telpay.

Part 1- Improving Work-Life-Balance in the Busy Tax Season -Task Management

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Guest Blogger:   Our special guest contributor in a 2 part  improving work-life balance series is Jag Barpagga with Welcome Networks, a leading cloud provider with virtual desktop and managed IT services.

welcome-networkWant some more free time this busy season? You could stop taking showers or ban TV at home but there are more effective and less offensive options out there for you. During a webinar hosted by Accounting Today and Wolters Kluwer (CCH) a couple of months ago, improvement in processes and workflow ranked as one of the top concerns for most accounting firms. This is an area that can bring a huge improvement in your efficiency and productivity in the practice because you will be able to do more in the same or maybe in even less time.

The Role of Better Task Management

Harvard Business Review conducted a three years long study with 15 executives and 45 knowledge workers at different companies with the goal to find ways on how to be more productive. The study revealed that an average of 41% of the respondent’s time is spent on activities that do not offer a lot of value and can be done by others or can be removed from their daily tasks. The main takeaway was:

“Eliminate or delegate unimportant tasks and replace them with value-added ones.”

There are three ways to categorize your tasks

• Tasks that can be stopped now with no consequences

• Tasks that can be delegated with minimal effort

• Tasks that need to be refined to run more efficiently

The best results found were from delegating desk-based work – this saved an average of four hours per week. Completely dropping unnecessary tasks resulted in about two hours of time saved per week. Maybe these extra six hours can be used to refine your operations or going home early. Lotta Laitinen, one of the respondents in the HBR study, spent her freed up time supporting her sales team and found a 5% increase in sales. Think consciously about what a specific task is doing for yourself and your business.

“I use myself to build the brand, to build the sort of three or four hundred companies around the world, but I learned the art of delegation.”

–Richard Branson, Founder of Virgin Group

You most likely have a strong team working with you so think positively when giving them the freedom to complete certain tasks and support the business like their own. Look for solutions that eliminate process time and allocate that time to something else. We at Welcome Networks monitor the type of programs and applications being used by firms and find that most progressive firms use programs and applications that drive efficiency and save time. This is being reflected in the yearly growth of their firms.  For example, one popular application being used is Telpay, a solution that allows you to pay suppliers electronically and securely. This can potentially eliminate an hour of your day and minimize the chances of cash flow planning being compromised. On top of the savings on postage, envelopes and cheque costs, the most important thing that you save is time, which ultimately reflects in your bottom line during the crazy, busy tax season. All this ultimately ends with happy clients who will positively impact your business.

You’re The Eliminator or The Delegator

Pause, reflect, and execute. Be a great delegator to distribute the workload or eliminate tasks to free up time. Being humble and open can allow you to find someone that is better than you in a specific task so you can focus on the bigger picture. Managing a multitude of tasks isn’t easy – eliminating them or finding someone else to do them isn’t either. It’s up to you to weigh out what is most important to you, your company, and your lifestyle.

If you wish to read HBR’s report visit: https://hbr.org/2013/09/make-time-for-the-work-that-matters

Part 2: Improving Work-Life-Balance in the Busy Tax Season – Time Management

balance-time-mgmt

Guest Blogger:   Our special guest contributor in a 2 part  improving work-life balance series is Jag Barpagga with Welcome Networks, a leading cloud provider with virtual desktop and managed IT services.

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When it comes to getting things done, results boil down to 2 things – How fast can you get it done and how well can you do it? Accountants and bookkeepers need to perform on both of these with precision during the busy tax time. Accountants know numbers and one thing is for sure, we only have 8760 or 8784 hours in a (leap) year. If you go by the average life expectancy of a Canadian, you have 711662.4 hours to spend time with your family, friends, at work, and for those moments you need to yourself. No, we can’t force our days to have more than 24 hours so we need to force ourselves to free up our time and allocate it to the more important areas of our lives.

Back to the Basics

Start with understanding what needs to be done throughout the day – every hour. Scheduling every hour of your day may seem like a waste of time but physically setting a plan will give a higher chance of following it. This goes to what happens inside and outside of the office. Whether it’s in your notebook or in your calendar app, enter your tasks and objectives in. Have you ever heard of a business prospering without a business plan? Allow your days to follow the same concept. Business plans and your daily schedules don’t have to be perfect but setting checkpoints, guidelines and anticipating bumps in the road will only benefit you. Dedicating you and your team’s time to specific tasks throughout the day will keep everyone engaged and motivated to meet those deadlines. You also need to plan those breaks in your day to give yourself a sense of reward at the end of a busy work session. But how can taking breaks during the busy tax season benefit you?

More Free Time Reduces Burning Out

If you read our previous post about task management, you will understand how to find some more time in the day. Maybe those extra hours you free up should just go to relaxing and following stress-free activities.  Although tax season is when you are most overworked, efficiency can increase if you take those breaks. Some call it “The Refueling Principle” – taking a step back and relaxing your mind. When your mind is bogged down with constant work, your efficiency decreases overtime. Yes, you continuously get things done if you don’t take a break but not at a more accelerated rate when following the refueling principle. Entrepreneur.com explains it quite nicely:

“You get more done quicker when you step back and recharge the brain and body.”

It’s as simple as that. Studies show that we have a limited amount of cognitive resources. So whether you find time for you and your team to take a break, remember that it will only be beneficial once you get back to work in the tax season rush.

Maybe you don’t have time to leave your desk and take a vacation. Solutions today ensure that you don’t need to be chained to a desk in order to reach your full potential. Many accounting firms allow employees to work from home or even from a beach with seamless access to all accounting and bookkeeping applications.

A multi-location firm like SunRonkai LLP Chartered Accountants found huge improvements from the day they moved to virtual desktops in cloud. Now both offices work seamlessly with better security and that was always a top concern for their partners. Nothing replaces the peace of mind and better productivity achieved due to strategic vision of the firm. Keep in mind you may find it fulfilling to resolve a client’s concern from a cruise ship, vacations have been shown to lead to significantly higher performances when returning to the workplace, so enjoy.

Time to Obtain Efficiency

Try it out for a week or two – planning out your day and following the refueling principle. Come with a strategy that will allow you to work at maximum efficiency. At the end of the day and when done right, the results will improve employee engagement and happiness. Nobody wants to come into and leaving work at a low level of satisfaction. Stay on track, don’t burn out and stay motivated.