Payroll Canada

Introduction

1ERP Payroll module is a software tool designed to manage employee payroll and related activities. It can offer the following benefits to businesses of all sizes:

Automate payroll calculations: automate the process of calculating employee salaries, wages, deductions, and taxes, ensuring that accurate and consistent payroll calculations are made every time.

Simplify tax compliance: comply with local, state, and federal tax laws by automatically calculating and withholding taxes from employee paychecks, generating tax reports, and filing tax forms.

Manage employee data: manage employee data, including personal information, employment history, and pay rates.

Streamline payroll processing: streamline payroll processing by automating the process of generating paychecks, direct deposit payments, and pay stubs, reducing the time and effort required for manual processing.

Provide real-time payroll information: provide real-time information on your payroll expenses, including employee salaries, wages, and taxes, allowing you to monitor payroll expenses and make informed business decisions.

Generate payroll reports: generate payroll reports, including payroll summaries, employee earnings reports, and tax reports, which can be used for internal analysis, compliance purposes, and to provide information to stakeholders such as auditors and investors.

Overall, this Payroll module can help you improve efficiency, reduce errors, and ensure compliance with tax laws and labor regulations, ultimately resulting in cost savings and improved financial management.

The Payroll module in order to be functional needs some minor setup before it can be used.

Features in Payroll Canada Module

Payroll Info

Command: Payroll -> PayRoll Info

Please enter the payroll info for your organization, the information includes number of pay periods and CPP and EI information to be used in the calculation of payroll

Salary Tracking

The Salary Info screen helps to keep track of changes in employee salaries over time. This can include recording starting salaries, raises, promotions, and other adjustments to an employee's compensation. The system can also track deductions such as taxes, insurance premiums, and other withholdings. With salary tracking features, employers can easily calculate payroll and generate reports to ensure accuracy and compliance with labor laws. Additionally, members can access their salary information and monitor their earnings and deductions, promoting transparency and trust between the employee and employer.

Periodic Payroll

The Periodic Payroll screen in the system generates payroll data for members in the organization. Once you have accessed this screen, follow the steps below to generate a payroll for your members.

Step 1: Click on the "New" button

To generate a new payroll, click on the "New" button on the Periodic Payroll screen. This will initiate the system to prepare the next pay period information based on the pay information and salary tracking information that has been updated.

Step 2: Review the Payroll Information

Once the system has prepared the pay period information, review the payroll information to ensure that it is accurate. This includes regular pay, vacation pay, CPP and EI for employee calculation, Federal and provincial tax calculation, Deduction and Net Pay information and CPP and EI for employer calculation.

Step 3: Make any necessary adjustments

If any adjustments need to be made to the payroll information, such as updating employee information or making changes to the payroll calculations, you can do so at this time.Delete the earlier created payroll and click on New to use the new information updated to generate the payroll.

Step 4: Finalize the Payroll

Once you are satisfied with the payroll information and any adjustments that have been made, you can finalize the payroll. This will save the payroll information to the system and generate pay stubs for each employee.

The Periodic Payroll Generation feature simplifies the process of generating payrolls for your members. By following the steps outlined in this user guide, you can ensure that your payrolls are accurate and processed efficiently.

Benefit Type

The Benefit Type screen is a useful feature that enables users to manage different types of benefits that they offer to their members, with consideration to the associated tax implications. The screen provides an intuitive interface that allows users to define and customize different benefits such as health insurance, retirement savings, and other types of benefits. By providing clear and concise information about the tax implications, users can make informed decisions about the types of benefits they offer to their members, and ensure compliance with relevant regulations.

Recurring Benefit

The Recurring Benefit screen enables users to manage benefits for individual members in an efficient and convenient way. With this screen, users can easily set up recurring benefits such as health insurance, retirement savings, and other types of benefits for each employee. The screen allows users to enter and edit employee-specific benefit details, such as the amount of the benefit and the recurring benefit if borne by the employee. This feature ensures that each employee receives the benefits they are entitled to and helps to streamline the benefits management process.

Periodic Benefit

// Need to revisit this section - MkBenefit - where is it called. Does not follow similar process to the Payroll.

The Periodic Benefit Generation feature is a useful tool that enables users to enter benefits for their members based on the pay periods that have been set up in the system. To use this feature, users need to access the Periodic Benefit screen and click on the "New" button. Once the new benefit posting has been initiated, users can enter the posting date, choose the currency, and enter the benefit information for the members. Users can also create copies of the benefit posting for future months and make changes as necessary. Once the benefit posting has been completed, the corresponding bill is automatically posted in the AP module, simplifying the billing process.

Reports

PaySlip

T4 summary

Payroll Register