All posts by Lyn Walker, Marketing Manager

Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Non-Processing Days That You Need to Know

non-processing-reminder

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.

Posted in: Payroll Direct Deposit, Telpay News
Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Vote for Your Cheque Pet Peeve

Posted in: Telpay News
Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Helpful Tips for This Tax Season

helpful-tips

Guest Blogger: Neal Winokur is a Chartered Professional Accountant (CPA, CA) who runs his own accounting firm focusing on providing tax and advisory services for small business owners. He helps his clients transition to online cloud accounting software for their bookkeeping to make them more organized and more efficient. For more information visit www.winokur.ca.

Here are some tips to consider for this tax season:

Scan Your Tax Documents
Please do not harm our precious environment by wasting paper by printing out your tax documents and then polluting our environment by driving to your accountant to drop off your paper documents in person.

By scanning and e-mailing your tax documents or placing them in a dropbox folder, you are saving time, money, and helping the environment. I run a fully technologically advanced paperless office, streamlining the tax filing process. If you do not have a scanner, you can take pictures of your documents with your phone and text or e-mail them. Alternatively, there is an app called “Genius Scan” you can download for free from the App Store which allows you to scan documents from your phone: https://itunes.apple.com/ca/app/genius-scan-pdf-scanner/id377672876?mt=8

Online Mail from CRA
If you are tired of receiving countless letters from the CRA in the mail, you can now have the CRA “e-mail” you these letters instead. Please visit: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/mngnlnml-eng.html for more information.

Prior Year Tax Returns
Tax returns for 2011 and before must be paper filed by mailing the tax returns to the CRA. Tax returns for 2012 and 2013 (and 2014) can be e-filed.

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