Payroll and Bookkeeping (Optional Co-Op)

This two-year Ontario College diploma program provides the necessary skills and knowledge to perform effectively in entry-level bookkeeping positions as well as providing a solid knowledge of the payroll functions within organizations and the skills to perform the payroll and accounting tasks for manual and computerized systems.

This program will also look at industry trends and best practices related to the compensation, benefits, and payroll functions within organizations. Topics addressed will include the payroll cycle and related calculations, how to work with agencies to ensure compliance with all legislative and government requirements, and documentation processes.

Graduates will gain a solid foundation of the payroll functions within organizations and will be able to perform payroll functions for various organizations working with specific accounting systems and processes utilized in Canadian businesses.

What You’ll Learn

• Prepare accurate financial reports for analysis and control purposes in accordance with Generally Accepted Accounting Principles (GAAP).
• Plan, direct and apply controls to an enterprise in accordance with industry standards.
• Prepare payroll remittances, T4s, basic personal tax returns, HST/GST and other required filings ensuring compliance with relevant Canadian legislation and regulations.
• Support the financial management of a business organization to make evidence-informed decisions that align with business goals and objectives
• Perform payroll and accounting tasks in various computerized systems in accordance with legislative and government requirements
• Support the investigation of and response to payroll queries within the operational structure of an organization and in accordance with organizational customer service standards.
• Complete all work in accordance with ethical business practices that foster corporate responsibility within the context of the Canadian business environment.
• Communicate professionally with vendors, clients and other stakeholders to foster successful business relationships.
• Develop a plan for personal professional development to enhance knowledge of industry trends and best practices relating to the payroll profession.