Use this handy checklist for all the things you will need to get setup and running in payroll. You can download a PDF version of the full Checklist, or a simplified version of only what you need before you start setting up the company, at the bottom of the page too.
**If you are moving from another provider part way through the year you MAY want to have them send interim ROEs for your employees, if you have a high turnover rate, to avoid manual adjustments later.
Checklist for Getting Started with Payroll
- Gather Your Documents
- CRA number
- Employee profile information
- Address, bank details, pay rates, vacation etc.
- Last payslips from previous payroll service (this will contain your YTD numbers)
- TD1 forms for employees
- Ask us if you need help with this!
- Complete Epay forms- complete and send these in while you work on the other stuff. You can download the form here:
- Benefit/Deduction Discovery
- Speak to your accountant/bookkeeper or benefits provider about the tax implications for any benefits/deductions you use for your employees
- Write what you find out down, you will need it later.
- Calculate your per payrun premium amount for any premiums paid monthly
- Example: Health benefits are $100/month. You pay Bi-weekly. Your per payrun calculation is
- 100*12=1200/yearly
- 1200/26=46.15 per payrun
- Example: Health benefits are $100/month. You pay Bi-weekly. Your per payrun calculation is
- Accounting integration
- Do you need to add items to the Chart of Accounts in your accounting program that you need to integrate?
- If yes, speak to your accountant/bookkeeper to find out what they want for reporting
- Set up company
- Payroll Options
- Hint* if you will be setting up an integrated accounting program, fill out the GL with the numbers you want to report on the PE side only.
- Pay Rules
- Create the benefits/deduction rules for the company
- https://help.paymentevolution.com/hc/en-us/articles/115002217823-Q-Can-I-create-custom-deductions-benefits-
- Add-ons- connect your accounting integration- make sure you complete the setup guide
- Payroll Options
- Add employees
- Personal information- use an email so they can access paychequer easier
- Don’t forget the vacation settings
- Tax details- the GL code allows you to departmentalize
- TD1 values are dollar values
- Benefits/deductions
- This is where you apply those per pay premiums to each employee.
- YTD- add these before first payrun from the last payslip you gathered in step 1
- If your payslips do not include Federal and provincial taxes broken down, put the full amount in Federal Tax
- Ready to run!
- Need more help? See our FAQ or help pages here: https://help.paymentevolution.com/hc/en-us
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