How to assign a deduction, bonus or benefit to an employee
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How to assign a deduction, bonus or benefit to an employee
Sometimes you may need to add additional payments or deductions to your employee's pay. In this article we'll review how to assign a deduction, bonus or benefit to an employee.
Click Payroll, then...
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Is this for previously paid amounts? Or does Wave take this out of your bank account?
Hey @Cynthiaaa , this would be for a payroll which you haven't run yet. It's like adding or subtracting money to or from an employee's regular pay.
I entered the employee IRA contribution. It does not show on the payroll preview so the totals are not correct
Hey there @KamAtStratford
I see you have an open ticket with one of our payroll employees! I'd recommend reaching back to her about any tax contributions that are not reflecting on your account. Unfortunately our payroll visibility is low through the community so I would recommend reaching out to them!
Thanks, I have the IRA contributions working now. My remaining problem is that I have no way to put in the FL SUI history. Also, I have no way to effect the CIT and FIT calculation and those are off compared to Intuit. I have been using Intuit for many years with no audits or other issues so I think the Intuit numbers are probably correct.
I used Intuit for the June 2020 payroll today. I hope I can get the numbers working in Wave so I can use it for the July 2020 payroll. If not, I'll probably not use Wave until 2021. That way there won't be an issue with entering the payroll history.
Hi, Can we change the frequency of when a benefit or deduction will occur? I am ready to sign up but I need benefits and deductions that can be calculated based on hours worked. Can we add this in?
Hey @Andrei_J , you can change the frequency between Once, Every cheque or Every month. If you also need to add one off benefit and deductions, you can always add more singular frequencies.
Does the payroll take care of EI, CPP or benefits at all? can it be worked into wave apps? let me know. i am interested in signing up if wave offers these things.
Hey there @JER
That depends if you're in a TAX SERVICE STATE or not but check out that link to see what deductions your state is eligible for!
How is the monthly deduction amount charged to the employee's paycheck if payroll is processed more frequently? I am looking for a way to setup health benefit deductions. I want to split the monthly premiums by the number of pay periods in the month. Or, I want the ability to pause the deduction if the month has an extra pay period.
Hello @Krys33 !
It sounds like you are trying to assign a deduction to an employee. To do this, you can head over to Payroll > Employees > the employee in question > Benefits and Deductions > Deduct from Pay. When adding a deduction to an employees pay, you can select the frequency of the deduction in the "Occurs" section.
All other automatic tax deductions made via Wave Payroll will be adjusted automatically if you choose to change your payroll frequency. Feel free to submit a ticket request or reach out on live chat to have a payroll specialist assist you directly. I hope this helps!
I need to know how i should log a personal pension contribution for myself so that I do not pay tax on it. I do not have employees or an employer, I am freelance
Hey @Deeangelique , as we on the Support team who help run this Community are not accountants, we do always highly recommend that you reach out to an accountant/CPA when dealing with an issue that involves your taxes. As taxes do vary by region as well, an accountant should be able to best advise on your specific situation.
I want to forward to my employee a Covid bonus awarded by the provincial government. The instructions on this page are fine for adding onto the regular payroll, but I am required to report this payment to the government. Assuming this will be a copy of a pay stub, I would like to issue a separate payroll run just for this bonus.
How do I do that without disrupting my regular payroll schedule?
Hey @David_in_Edmonton !
To issue a separate payroll for the bonus, please reach out to our Payroll Support team via email or chat. They will be able to assist you with making an off-cycle payroll that won't affect your regular schedule
Ack. Too late.
I received a response by email June 8th (from Mariana) stating that two payrolls in a single pay period was not possible. On that advice, I merged the amounts.
The employee was not pleased.