Payroll
This guide describes how to to set up a payroll run for the pay period. The process is as follows:
- Verify the Employee Payroll sheet.
- Collect the Long Term Disability (LTD) deductions.
- Verify benefit deductions via Wagepoint.
- Submit payroll via Wagepoint.
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
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
- Log into the Co-operators portal using the Plan Sponsor credentials found in BitWarden.
- Go to the Account Information menu
- Click 'View Bills`
- Click
View
for the bill for the relevant time period (usually the second from the top at the time of running payroll) - Select
Billing Statement
and clickView
. A PDF version of the bill will open. - For each employee, add the values from the
CURRENT PERIOD DETAIL LIST
andPRIOR PERIOD ADJUSTMENTS DETAIL LIST
:Premium
column,Employee
subcolumnTotal Amount Due for Member
row
Adjustments are optional and typically there will not be any.
3. Verify Deductions in Wagepoint
- Log into Wagepoint as a user with admin privileges.
- Click the
EMPLOYEES
tab. - Click on an employee's name.
- Click
DEDUCTIONS
. - The
Long-term disability premium
deduction must match the value calculated using the benefits plan billing statement. - 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.
- Log into Wagepoint as a user with admin privileges.
- Click the
PAYROLL
tab. - Paygroup: Click
NEXT
(we only have one monthly paygroup). - 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 toNo
. - 4.3. Click
NEXT
.
- 4.1. Set the pay cycle to cover the previous month (e.g.,
- Hours: Click
SAVE/NEXT
to skip this step (we do not use theHourly
pay type). - 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 theHours
spreadsheet column. - 6.2.
CURRENT PAY
: Copy the value from theRegular / Current Pay
spreadsheet column. - 6.3
PUBLIC HOLIDAY PAY
andVACATION HRS
must be set to 0.00. - 6.4 In the
PAY?
column, selectYES
for any Employee who will be paid in this payroll. - Follow 6.1-6.4 for each employee.
- 6.6 Click
SAVE/NEXT
.
- 6.1.
- 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. ClickAPPROVE PAYROLL
. - 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
. - 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 theREPORTS
tab in Wagepoint):- Copy the Payroll Register and Posting Journal to π
Finance > Payroll > Payroll Information
. - Send the Payroll Invoice to the QuickBooks receipt address.
- Copy the Payroll Register and Posting Journal to π