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Run your first payroll

Establish payroll dates

  1. Navigate to the Payroll tab once all company, employee, banking, and tax information has been completed.

  2. Paygroup – select the paygroup for which to run payroll and click “Next.” If you have just one paygroup, it is automatically selected.

  3. First day of pay cycle – use the date picker to select the first day of work for the pay period that you are processing. 
  4. Last day of pay cycle – use the date picker to select the last day of work for the pay period that you are processing. 
  5. Pay date – use the date picker to select the desired pay date. Note: you need to approve payroll four (4) business days prior to the desired pay date by 3pm EST if employees are paid using direct deposit. 
  6. This establishes the payroll periods for future processing. Click “Next.”

Pay hourly employees

  1. Hours – enter or import the hours worked for your hourly employees. 

  2. Add / remove income types – Add any applicable earnings like commission, overtime, time worked on holiday by clicking the orange 'Add / remove income types' link. Note: earnings that are set to be paid out with each paycheck will automatically be included and displayed. 

  3. Pay? (default: Yes, until changed) – set the toggle to 'No' if you want to exclude an employee from the current payroll. Note: once changed, the current setting will be the new default, which means you will need to set the toggle back to 'Yes' when you run payroll next. 

  4. Click “Save/next.” 

Pay salaried employees

  1. Hours – enter the hours worked. If left blank, the app will use the Expected hours per week value or the default 40 hours per week, divided by the number of pay periods in the selected frequency. For e.g. a semi-monthly employee's paystub will display 86.66 hours if left blank.
  2. Normal pay – the app will calculate and display the gross regular wages using the salaried employee's annual rate of pay divided by the number of pay periods in the selected frequency. 
  3. Current pay – same as Normal pay; however, you can edit the Current pay amount if you want to make adjustments for employee's who were hired or terminated in the middle of the pay period.  
  4. Add / remove income types – Add any applicable earnings like commission, overtime, time worked on holiday by clicking the orange 'Add / remove income types' link. Note: earnings that are set to be paid out with each paycheck will automatically be included and displayed.

  5. Pay? (default: Yes, until changed) – set the toggle to 'No' if you want to exclude an employee from the current payroll. Note: once changed, the current setting will be the new default, which means you will need to set the toggle back to 'Yes' when you run payroll next. 

  6. Click “Save/preview.”

Review and approve payroll

  1. Click "View" to review the payroll details for each employee or "View all" to see the pre- payroll register report. 
  2. Employees with an active bank account in the system will be indicated by a green checkmark. They will be paid using direct deposit unless direct deposit has been disabled in the company settings. Note: you will need to write paper checks to employees who are not setup for direct deposit. 
  3. Click the checkbox to confirm that you have reviewed the details.

  4. Click “Approve payroll” to finish processing your payroll.

  5. Payroll approved email notice – if enabled, you will get an email confirmation that payroll has been approved for the current pay period and is pending finalization.

  6. Reports available notice – if enabled, you will get an email confirmation that payroll has been finalized and payroll reports are available to review. 

Paying employees and remitting taxes

  1. Navigate to the Reports > Payroll invoices tab once you have confirmation that the payroll has been finalized.
  2. The total amount indicated on the payroll invoice will be collected from your company bank account on the date that payroll is finalized. Ensure you have sufficient funds in your company bank account to avoid any penalties due to insufficient funds. 
  3. Funds for net pay – this is the total amount of funds that will be collected from your company bank account to pay employees who are setup for direct deposit. This will match the Deposit summary report. Note: you will need to write paper checks to employees who are not setup for direct deposit or if you disable direct deposit in your company settings.  
  4. Source deductions – this is the total amount of funds that will be paid in federal, state and local taxes on your behalf. This will match the Receiver General report, where you can find a detailed breakdown of the taxes withheld. Note: you will need to remit taxes to the government manually if you have disabled tax remittances in your company settings. 

  5. Wagepoint processing fees – this is the total amount of fees collected for using our app. 

  6. Sales tax – the total amount in sales tax that is calculated on the processing fees. 

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  1. Leena @ Wagepoint

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