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Quickbooks Pro Desktop, Canada
I would like to use the Stat Holiday payroll item. It is set up as an hourly item.
I've used the Province of Ontario's online holiday pay calculator to find the total amount of holiday pay the employee is due. (this calculation includes vacation pay paid out in the previous 4 week period)
The Stat Holiday hourly item requires hours entered. If I enter the total holiday pay amount due to the employee I would need to enter 1 hour worked, or is it better to divide the total holiday pay due by the number of holiday hours (example 8 hrs. x 3 days of stat holidays = 24 hrs) with the result being the holiday hourly pay?
Does it make a difference? How would either affect an ROE?
Hi there, @Hillcrest2.
You can use either of the methods as long as the amount of the holiday pay is correct. If you wish to enter 1 hour worked, then input the designated or full amount for the statutory holiday pay. Otherwise, you can divide the total figure once you divide the number of hours.
It won't make any difference to your record given that the calculations are accurate.
To learn more about statutory holidays in Canada, open this article: What Small Business Owners Should Know About Statutory Holidays.
Additionally, you can get more resources about your ROE form here: Process, review & EFILE Record of Employment (ROE) forms.
If you have other questions about payroll or holiday pay, please click the Reply button and add a comment below. I'll be right here to provide additional assistance whenever you need it. Keep safe!
We pay out 4% vacation pay on each payroll period.
Is vacation pay to be calculated on Holiday/Stat total and if so how can the 4% be automatically calculated as is calculated with Hourly wage?
Hi v_wakonig.
In order to find out if vacation pay should be calculated on your holiday/stat days I recommend reaching out to the CRA or your accountant as they would be the ones to be able to answer this question. You can reach the CRA by following the steps in this link.
If you don't have an accountant you can find one in your area by going to our Find an Accountant page.
If you have any questions let us know and we'd be happy to help.
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