Payroll is a complex and important aspect of running any business, and every company has unique needs regarding it. We are often asked whether various features and customizations can be supported by PayTickr’s payroll module, so in this article wanted to provide a brief overview of the various payroll capabilities contained within PayTickr.
Built-In Time Tracking Integration: This is the most unique feature of PayTickr’s payroll, making it an ideal and simple solution for companies with employees who are paid hourly. Using the PayTickr time tracking module, you will be able to run payroll without any need for inputting hours or calculating overtime. PayTickr will use the hours collected from it’s time tracking module, and combined with overtime rules, stat holiday settings, and vacation pay percentages that you set up, it will automatically fill in each employee’s payroll at pay day. Please note that the time tracking module does not need to be used with PayTickr’s payroll, as you can enter the hours for any hourly employees at pay day just as with traditional payroll software. This brings us to the second most key feature of PayTickr’s payroll.
Fully Customizable Payroll Runs: At payroll time you can customize the hours or salary amount your employees are to be paid (from the defaults calculated by PayTickr), and you can recalculate the source deductions on the fly to see how these changes will affect tax, EI, and CPP amounts. PayTickr will also automatically recalculate stat holiday pay after you customize the regular pay an employee receives, as depending on your stat holiday pay settings this pay could affect the amount of stat holiday pay they should receive on that same payroll run. You can even preview pay stubs before running the payroll, just to confirm it will show up exactly how you’d like to the employee.
Salary, Hourly, and Both: Employees can be paid via salary, hourly pay, or both. If paid salary, you just need to enter the annual salary and PayTickr will automatically calculate how much salary the employee should receive on the current payroll run based on the length of the pay period. Employees who are paid a salary plus hours can use PayTickr’s time tracking for their hourly pay, or it can be entered at payroll time. You can even add new pay types at payroll time if you decide to pay a salaried employee some overtime hours, for example, or want to include a bonus or commission payment to an employee’s pay.
Direct Telpay Integration: We offer a direct integration with Telpay, a leading Canadian electronic payment system. PayTickr will create a file to be imported into Telpay, allowing you to pay all your employees, your government remittances, and any other deductions via direct deposit in one simple step.
Unlimited Payroll Schedules: PayTickr allows you to set up unlimited payroll schedules at no additional cost, so if some employees are paid monthly and some weekly, you can do that easily. Or you can pay different job sites on opposite weeks, reducing the burden of running everyone’s payroll at the same time.
Full Featured Payroll Reports: All the information from your payroll runs can be pulled to generate payroll reports. These reports can include gross pay, all types of source deductions, other addition and deduction amounts, vacation pay accrued and paid out, bonuses received, and insurable hours paid. These reports can be generated for any date period you wish, and can be totalled up for each employee or split into individual payments. The generated reports can also be exported to Excel (as a CSV file) for further processing and reporting.
Additions and Deductions: PayTickr supports allowances, benefits, deductions (before tax and after tax), and garnishments. These adjustments can be configured to have a pre-set amount, which can then be customized at payroll time as needed.
Multiple Hourly Wages: Employees who are paid premiums or different rates depending upon what department or time they’re working can be paid multiple hourly rates in PayTickr. You can even use this in conjunction with PayTickr’s time tracking, so the employee chooses which rate they should be paid at when punching in, and at payroll time the hours will be paid at that hourly rate. Overtime can also be paid on each of the different hourly rates.
Journal Entry Export: After running payroll, PayTickr allows you to create journal entries from those payroll runs, with full customization. You can show all wages, vacation pay (both accrued and deducted), additions and deductions, and government remittances completely separately, or combine it all into one single journal entry. These journal entries can then be exported to an Excel (CSV) file, or directly to QuickBooks Desktop or QuickBooks Online. The QuickBooks Online integration can even be set up to automatically send your journal entries to QuickBooks Online when you run payroll in PayTickr, without any manual intervention needed from you.
T4s, ROEs, and PD7A Support: Lastly, but perhaps most importantly, PayTickr will help you handle all the requisite government reporting for your payroll. You can create T4 slips to be handed out to your employees at the year-end, and create the T4 XML file which can be submitted directly to the CRA’s website. For ROEs which may need to be filed for various reasons, often due to a change in employment status for an employee, PayTickr produces an XML file which is submitted to the Government of Canada’s ROE website, where you will receive a paper copy of the ROE that can be given to your employee. PD7A information can be collected from PayTickr for any date period, although you will not need to file PD7As if you are remitting your source deductions via Telpay, as the information required by the CRA for these remittances is included in the file PayTickr produces for Telpay.
While we have attempted to give an overview of the payroll capabilities of PayTickr in this article, keep in mind that it is not comprehensive. There are numerous other small features to PayTickr’s payroll that we couldn’t hope to cover in a single blog post. We also have built the system to be flexible, so if there is a minor feature you need added we can often accommodate that. If you’re unsure if PayTickr will be able to suit your business’ payroll needs, be sure to reach out to us at firstname.lastname@example.org. We’ll be happy to set up a call to discuss if PayTickr is right for you, and provide you with a demo of the system should you want more information.