There are many reasons why replacing cheques with electronic payments not only makes business sense but, also saves cents. We want to share some of these reasons with you in our new Q + A series featuring businesses that have made the move to forget the cheque. Continue reading
At Telpay, we do not process payments on statutory holidays. We refer to these holidays as non-processing days.
Due to the nature of our service, we rely on banks and credit unions to move money. When the banks close for the holidays, Telpay cannot process any payments. If your payment is on or around a holiday (non-processing day), you will need to add a day(s) to your funding timeline or adjust your payment deposit date.
When are the upcoming non-processing days?
- Christmas Day – Friday, December 25, 2015
- Boxing Day – Saturday, December 26, 2015 *observed on Monday, December 28, 2015
- New Years – Friday, January 1, 2016
- Provincial Holiday – Monday, February 15 , 2016 *observed in Manitoba, Alberta, Saskatchewan, Ontario, Nova Scotia and PEI
- Good Friday – Friday, March 25, 2016
- Victoria Day – Monday, May 23 , 2016
- Canada Day – Friday, July 1, 2016
- Civic Holiday – Monday, August 1, 2016
- Labour Day – Monday, September 5, 2016
- Thanksgiving – Monday, October 10, 2016
- Remembrance Day – Friday, November 11, 2016
What if I want to make a payment on a statutory holiday?
Since banks are closed on statutory holidays, Telpay cannot process any payments you submit on non-processing days. Adjust your payment date(s) to accommodate non-processing days.
How do non-processing days affect my funding?
Non-processing days are also non-funding days. Non-processing days are not included in the total lead time for payment funding. You will need to adjust the number of lead time days to fund your payables and payroll on time.
Does Telpay send out holiday reminders?
We do our best to give customers advanced notice of upcoming non-processing days. We send our customers non-processing day reminders by email, monthly newsletters, Telpay’s social media channels and the important dates are listed online at support.telpay.ca.
Plan ahead for the holidays!
The holiday season is right around the corner! During the holidays, Telpay will not process or accept funding for any payments on December 25, December 28 and January 1. Start planning now for your payroll and/or payables with our handy Funding Timeline Schedule.
Plan your payments ahead so that you can focus on what matters most this holiday season.
As much as we would like you to sign up all your clients with Telpay, it is also important to make sure that Telpay is a fit. That is why qualifying right off the hop is very important. Just like qualifying in sales, it’s all about asking the right questions to make sure the needs of that business can be met by the Telpay solution. Continue reading
The Canadian Payroll Association’s 32nd Annual Conference & Trade Show was held on June 17- 20 at the Sheraton Centre in Toronto. Telpay attended as an exhibitor in the trade show portion of the event. This conference attracted payroll professionals from across the country of all experience levels due to diversity of the seminars and exhibitors.
“We showcased Telpay’s payroll direct deposit, and it also generated a ton of interest in our bill payment feature,” stated Sean Camara, Business Development Agent.
Thank you to everyone who stopped by our booth. This event was a great success and we are excited to come back! Next year, we won’t be so camera shy.
Everyone likes getting paid. When your business uses electronic systems to send money directly into bank accounts, it says a lot.
I once had a client tell me; ‘When I send money electronically, it makes my business look more professional, as if we are bigger than we are.’
As some of you may know, Telpay’s system gives businesses the ability to send money anywhere, with just a few clicks of the mouse. That’s very powerful.
Understanding how paying electronically impacts the receiving party is important. Here’s a look at how the people and businesses you pay feel about getting paid by direct deposit to their bank accounts.
Since 1978, the D’eon Family have owned the A&W Restaurant on the Crowsnest Highway near Fort Macleod, Alberta. A&W Food Services of Canada is Canada’s second-largest fast food burger restaurant chain with over 800 locations.
When Dave’s father ran the restaurant ‘everything was paper’ at least where the accounting was concerned. Back in those days, Dave’s father would bring the accountant the ‘books’, and bills, then come back pick everything up and begin signing cheque after cheque. Then he would deliver the cheques to the mail.
Times changed; Dave came aboard and the business continued to grow. Soon Dave was responsible for running the restaurants and managing ‘the books’. With approximately fifty staff and dozens of supplier payments, Dave quickly realized the manual cheque process needed to be replaced with a better way.
Time is ticking on T4/T4A season. With the Friday, February 28 deadline fast approaching, are you procrastinating, preparing or already producing your T4 and T4A Information Returns?
What they are?
A T4 (Statement of Remuneration Paid) is employment income paid during a tax year and the amount of income tax that was deducted. As well as salary, employment income can be bonuses, vacation pay, tips, honorariums, commissions, taxable allowances, the value of taxable benefits and payment in lieu of notice. Continue reading
On February 11, 2014, Finance Minister Jim Flaherty tabled the 2014 Federal Budget, entitled “The Road to Balance: Creating Jobs and Opportunities.” A key point for Telpay customers was the reduction in frequency of CRA Source Deduction remittances for some employers. The Budget proposed to increase the remittance thresholds for CRA Source Deduction remittances for amounts withheld after 2014. Continue reading
Why do I love my direct deposit service? Let me count the ways. It is for the same reasons that I love paying personal bills with online banking – it’s easy, ultra-convenient and recipients love it!
Reason #1 – It’s Easy
Businesses should always be thinking of ways to become more efficient. Sending money with a few clicks of the mouse is certainly more efficient than dealing with the manual cheque processes – buying cheques, printing, signing, assembling – this is no longer the best way to pay employees or suppliers. Continue reading
Telpay is proud to sponsor Melissa Michalski B.Comm (Hons), CPB and Bea Dabrowski, BA, CPB of the CertPro Accounting Team Inc, who were accepted into the Institute of Professional Bookkeepers of Canada (IPBC) prestigious Black Swan 2 Project.
Jason Olson, Vice President of Strategic Partnerships stated:
“The Black Swan program is tough to get into. The application process is extremely competitive and only chooses five Certified Professional Bookkeepers (CPB) per year from across Canada. Telpay is very proud of Melissa and Bea as the first and only ones from Manitoba.” Continue reading
Do you still send invoices, print off emails or write cheques to pay bills? With technology, software and apps, the tools to digitize most or all of your paper needs are now readily available and affordable. To get you started, here are five ways to reduce paper in your office.
Interestingly enough when you search the topic online, you will see electronic bill payment right at the top. Guess what? Telpay for Business can help with that one. The more payments you make electronically through Telpay for Business, the less you’ll spend on postage, envelopes and employee time coordinating invoices, cheques, and mailings. You will reduce paper, save money and valuable time.
Inlett Incorporated manages commercial and industrial properties throughout Western Canada. Wendi Dunstone, CMA and Director, Management Services was tired of using couriers to deliver payroll cheques bi-monthly to approximately 45 staff located in Manitoba, Saskatchewan and British Columbia.
Wendi decided to cancel her outsourced payroll service and process her own payroll. Now she pays Inlett employees with Telpay’s direct deposit and emails their pay stubs, which substantially reduced courier costs. She no longer stands in line at a bank to pay government remittances, because they are also paid through Telpay.
On March 31, 2014, businesses sending cheques will see their costs for stamps increase by between 19-35%. The price of stamps and cheque related fees are constantly increasing, so the announcement of a price increase did not come as a surprise. What was surprising was the dramatic increase of stamps – as much as $1.00 when purchasing a single stamp.
The good news is that for businesses already sending electronic payments there will be no cost impact on their business. On the other hand businesses using regular mail will see a dramatic cost increase.