Payroll
Contractor payments
Finbryn tracks what Canadian businesses pay independent contractors through the year and reconciles totals ahead of tax season. Payment tracking against vendor bills and payment platform records is done by our accounting team, with information return data prepared for review before filing deadlines.
Payroll reconciliation
Illustrative client · August 2026
CAD
- Payroll register agreed to the provider reportDone
- Net pay agreed to the bank debitDone
- Withholdings and employer costs postedDone
- Payroll liability accounts cleared to zeroIn progress
- Filing dates checked against the calendarNext
Illustrative. An example of the document, not a client's figures.
Why contractor payments need separate tracking
A contractor paid through Bill.com, a bank transfer or an invoice inbox does not sit on the same platform as payroll employees, so by tax season those payments can be scattered across several records rather than one clean list. Reconciling them accurately takes more than a quick export from one system.
What we track through the year
We collect the required tax forms from each contractor before the first payment, then track amounts paid against vendor bills and payment platform records as they happen, rather than trying to reconstruct a year of payments in the spring. Where contractor payments run through a payroll platform's own contractor module, we reconcile that module against your books the same way we reconcile employee payroll.
Business number and CRA program accounts
A business generally needs a CRA Business Number once it needs a payroll, GST/HST or other program account, or once it incorporates. We flag when a growing contractor relationship starts to look like it belongs on payroll instead, since that classification changes what registrations and deductions apply.
Getting ready for tax season
We reconcile payment totals by contractor ahead of your filing deadlines, so any missing form or mismatched total surfaces with time to fix it. The underlying data is prepared for review well before your accountant or the platform needs it, not assembled at the last minute.
Who files
Information returns and any related filings are completed by your accountant, your payroll platform's contractor module, or a registered preparer. We prepare and reconcile the underlying payment data so whoever files has accurate numbers to work from.
Questions
Frequently asked questions: Contractor payments
What happens if a contractor stops sending an invoice?
We flag the gap so you can follow up before it turns into a missing figure at tax season.
What do you need from a contractor before we pay them?
A completed tax form on file before the first payment, so the name and details on record match what ends up on any year-end reporting.
Do you file our contractor information returns?
No. Filing is completed by your accountant, your payroll platform's contractor module, or a registered preparer. We prepare and reconcile the underlying data.
Can you track contractors paid in more than one currency?
Yes, provided the payment platform or bank feed reports the amounts, which we reconcile against vendor bills the same way as domestic payments.
What exactly is included in contractor payments?
Contractor records and tax identification forms collected before the first payment, and contractor payments tracked against vendor bills and payment-platform records. This work runs inside Bill.com or Deel, whichever your business already has in place, and it rolls into your regular monthly close rather than sitting off to the side as a separate, unreconciled process.
Do you decide who counts as a contractor rather than an employee?
No. That classification is a legal judgment for you and, where needed, your adviser. We track payments accurately once the classification is made.
Do you file the year-end forms?
The forms are filed or transmitted by your payroll or e-file provider, or by a credentialed preparer. We prepare the underlying data and reconcile it before the deadline.
What if our records for contractor payments are not up to date?
If your records are behind, we scope a catch-up first so contractor payments starts from a clean, reconciled base. That catch-up is priced and timed separately from the ongoing engagement, so you always know what each part costs.
Who reviews the work before it reaches us?
Every deliverable under contractor payments is reviewed by a senior reviewer before it reaches you. You keep access to the underlying file at every stage, so nothing about the work happens somewhere you cannot see it.
Related services
- BookkeepingMonthly bookkeepingOngoing monthly bookkeeping: transactions sorted into categories, accounts reconciled and month-end reports delivered in the software you already use.
- PayrollPayroll journals and reconciliationsPayroll journal entries recorded each pay period and reconciled against the payroll platform's reports, so wages, withholdings and benefit deductions match your general ledger.
Industries
- Agencies and consultanciesBookkeeping for marketing agencies, design studios and consulting firms billing clients on retainers and project fees.
- SaaSBookkeeping and reporting for subscription software businesses tracking recurring revenue, deferred revenue and burn.
- Startups and VC-backed companiesBookkeeping and reporting for early-stage, venture-backed companies watching burn, runway and investor reporting closely.
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.