Payroll

This guide describes how to process a payroll run for the pay period. The process is as follows:

  1. Verify the Employee Payroll sheet.
  2. Collect the Long Term Disability (LTD) deductions.
  3. Verify benefit deductions via Wagepoint.
  4. Submit payroll via Wagepoint.
  5. Save reports.

We use Wagepoint to run payroll. If this is the first time you use Wagepoint, watch this introductory video: Running your first payroll with Wagepoint - Canada video.

1. Confirm Wages (Operations WG)

You should have a completed Employee Payroll sheet for the pay period ready, which indicates the wage information for each employee, as well as reimbursements.

2. Collect LTD Deductions (Operations WG)

  1. Log into the Co-operators portal using the Plan Sponsor credentials found in BitWarden.
  2. Go to the Account Information menu
  3. Click 'View Bills`
  4. Click View for the bill for the relevant time period (usually the second from the top at the time of running payroll)
  5. Select Billing Statement and click View. A PDF version of the bill will open.
  6. For each employee, add the values from the CURRENT PERIOD DETAIL LIST and PRIOR PERIOD ADJUSTMENTS DETAIL LIST:
    • Premium column, Employee subcolumn
    • Total Amount Due for Member row

Adjustments are optional and typically there will not be any.

3. Verify Deductions in Wagepoint (Operations WG)

  1. Log into Wagepoint as a user with admin privileges.
  2. Click the EMPLOYEES tab.
  3. Click on an employee's name.
  4. Click DEDUCTIONS.
  5. The Long-term disability premium deduction must match the value calculated using the benefits plan billing statement.
  6. Repeat steps 3-5 for all employees.

4. Submit Payroll in Wagepoint

The payroll is not submitted until the last step of this procedure, and you must click SAVE/NEXT during each step to preserve the "draft" progress.

You can review past payrolls under the REPORTS tab.

Bookkeeper

  1. Log into Wagepoint as a user with admin privileges.
  2. Click the PAYROLL tab.
  3. Paygroup: Click NEXT (we only have one monthly paygroup).
  4. Paydates: During the current pay cycle, we settle amounts owed up to the end of the previous month.
    • 4.1. Set the pay cycle to cover the previous month (e.g., First day of pay cycle: Feb 1, Last day of pay cycle: Feb 28).
    • 4.2. Set the Pay Date to be the 15th of the current month (e.g., March 15) or the last working day prior if the 15th happens to land on a weekend or holiday (e.g., March 13).
    • 4.3 Make sure Off Cycle is set to No.
    • 4.3. Click NEXT.
  5. Hours: Click SAVE/NEXT to skip this step (we do not use the Hourly pay type).
  6. Salary: Copy and paste all the entries from the Employee Payroll sheet for the current pay cycle for each employee. Ensure that the hours and pay line up, these are the basis for ensuring legal minimum wage:
    • 6.1. HOURS: Copy the value from the Hours spreadsheet column.
    • 6.2. CURRENT PAY: Copy the value from the Regular / Current Pay spreadsheet column.
    • 6.3 PUBLIC HOLIDAY PAY and VACATION HRS must be set to 0.00.
    • 6.4 In the PAY? column, select YES for any Employee who will be paid in this payroll.
    • Follow 6.1-6.4 for each employee.
    • 6.6 Click SAVE/NEXT.

Finance WG

  1. Process: Click VIEW ALL to verify each Employee's amount, and that we have sufficient funds in our bank account to pay the invoice total. Click APPROVE PAYROLL.
  2. Confirm: Confirm the payroll run for this pay period. Payroll will be queued for processing and deposits to Employee accounts will happen on the Pay Date.

5. Save Reports

Three working days ahead of the Pay Date, Wagepoint will withdraw funds from our bank account.

After we receive a notification from Wagepoint that payroll reports are ready, we must upload the following documents for our bookkeeper to update Quickbooks (all of these are available under the REPORTS tab in Wagepoint):

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