Monthly Archives: October 2012

To Pay or not to Pay – Remembrance Day 2012 and General Holiday (Stat) pay

If you look at a calendar you will note that Remembrance Day, (November 11 th) falls on a Sunday in 2012. To the average business owner, what does this mean in regards to Stat Pay?

In Manitoba, Remembrance Day does not qualify as a Statutory (General) Holiday. To a business owner this means that you do not have to pay employees who do not work on this day.  However, Remembrance Day is unique in that there are special rules businesses must follow should they wish to conduct business on this day. For example, on Remembrance Day the rules for business operating hours dictate that commerce cannot be conducted between 9:00 am and 1:00 pm on that day. This rule trumps the recent changes in the Sunday shopping hours. Therefore, expect malls, etc. to open their shopping doors at 1:00 on that day.

There are certain types of businesses exempt from waiting until 1:00 pm to operate. Restaurants, gas stations and pharmacies are allowed to operate between 9:00 am and 1:00 pm. There are others. Check out the list at the Manitoba Labour Standard’s website to determine if your business operating hours are affected.

If you plan to operate your business on Remembrance Day, please note that you will be required to pay your employees at the rate of time and a half. Furthermore, you will be required to pay your employee a regular day’s pay calculated at 5% of the pay earned in the previous 28 days from Nov 11 th.

Some employers will pay their staff for Remembrance Day even though they don’t work. This amount would be calculated like any other statutory holiday. However, this is not a requirement! If your business is usually closed on Sundays, not paying staff for this day is perfectly allowed under the Manitoba Labour Standards. Should your business be open on the following Monday – November 12th? Well, banks won’t be open, nor will Federal and Provincial offices. But a quick 311 call confirms that City of Winnipeg Buildings will be open on Nov 12th. So, like the Easter Monday ‘holiday’ it would appear that it is business as usual to all but some government/banking employees.

Finally, regardless if you have to work, be open, staff positions, etc. or not on November 11 th, (or 12th for that matter ), it is worth noting one thing. Remembrance Day is for remembering – those that have died and sadly, those who will die in the sake of freedom. Let’s not forget the meaning behind the day……

Understanding Financial Statements – Winnipeg Chamber of Commerce Presentation Oct 17, 2012

Five Star Accounting Senior Accountant, Wendie Karlowsky discussed the basics of Financial Statements at a presentation for the Winnipeg Chamber of Commerce on October 17th, 2012.  Financials statements including Balance Sheets and Income Statements are important for business owners as together, they can provide a much clearer picture of a company’s performance.

Understanding Financial Statements

A copy of Wendie’s presentation is available for download Understanding Financial Statements Chamber Presentation.