As part of our continued efforts to enhance our services and ensure smooth billing processes, we would like to inform you of an important update to our billing structure, effective April 1st, 2025.
Invoice Timeline
- Invoices will be issued on the 1st of each month, covering services provided in the prior month.
- For example, on January 1st, you’ll receive an invoice for December’s services.
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Payment will be debited from your company’s bank account on the next business day.
What Your Invoice Will Include
- Base Fee
- Active Employees
- Employees listed as active, onboarding (i.e., not dismissed) during the period will be included in the invoice, regardless of payroll records or payments issued to the individual during the month.
- To avoid unnecessary charges, dismiss employees you no longer wish to pay.
- Employees dismissed mid-month will be included in that month’s invoice.
Not Running Payroll Temporarily?
If you don't plan to run payroll for a while but intend to resume later, you can temporarily pause your account. Knit will retain all your data, and you can reactivate your account later. Please note that paused accounts have limited functionality. You can refer here to end your account subscription.
Account Closure
- If your invoice or bill comes from a third party, such as your accountant, you must coordinate with them to cancel your account.
- Knit bills retroactively, so a final invoice will be issued the month after cancellation.
This invoice will include any applicable tax filing fees.
- Important Notes:
- Accounts cannot be closed if a payroll is currently in progress.
- Accounts canceled mid-month will be charged for the full month.
- If any payrolls are set to autorun, you must disable autorun before closing your account.
Once your account is closed, it cannot be reactivated. The closure is irreversible. If you wish to run payroll with Knit again after closing your account, a new account will need to be created. Please note that data from the cancelled account, including historical reports or filings, cannot be transferred to the new account.
Optional After-Closure Tax Filing Services
After the closure of your account, if you require Knit to handle your record of employment filings, tax remittances, or T4 filings, our managed services fee will apply. Our fee guide is available here.
Frequently Asked Questions (FAQs)
What should I do if my subscription expires due to inactivity?
If your subscription has expired due to inactivity, please choose a plan to reactivate it. Once reactivated, you will be able to resume payroll services, including filing record of employments and T4s.
Will I be billed if I have no active employees on my account?
Yes, Knit will continue to charge the base fee even if there are no active employees on your account. This ensures that your payroll services, compliance, and tax filings remain active and uninterrupted.
What happens to my data if I close my account?
If you close your account, you will still have access to your historical reports and any filings that Knit has completed on your behalf, such as PD7As, records of employment, and T4s.
How can I reactivate or resubscribe to my account after closing it?
Once an account is closed, it cannot be reactivated. To use Knit services again, you will need to create a new account. Please note that data from the closed account, including historical reports or filings, cannot be transferred to the new account.
Opening a new account requires completing Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, which may take anywhere from two days to two weeks. For assistance, please contact Knit at support@knitpeople.com.