Payroll setup checklist
You'll need the following information to set up your desktop payroll. You can find the information from your previous payroll provider, in your own records, from your accountant, or from federal and provincial agencies.
1. Compensation and Benefits
- Types of employee benefits: Such as hourly wages, salaries, bonuses, commissions, and tips.
- Types of employee compensation: Such as health and dental insurance, employee savings plans, retirement plans, and vacation/sick leave.
- Other additions and deductions: Such as cash advances, mileage and travel reimbursements, and union dues.
- Completed TD1 form for each employee.
- Pay rate: Hourly, salary, commission, etc.
- Paycheque deductions: Employee contributions to health insurance, retirement plans, or savings plans.
- Pay schedule: Weekly, bi-weekly, semi-monthly and monthly.
- Sick/vacation allowance and balance: if applicable.
- Hire and termination dates.
3. Tax Information
- Canada Revenue Agency (CRA) Business Number: You'll need a unique number from the CRA to file and pay taxes. Contact the CRA to apply for your Business Number.
- Filing requirement and deposit schedule for payroll taxes: Requirements for when to remit source deductions to the CRA vary. Companies that owe more payroll tax typically pay and file more frequently. See Remitting source deductions or contact the CRA to determine your requirements.
- Review the latest CPP & EI contribution limits.
4. Prior Payrolls
NOTE: If you've already paid employees this calendar year, you need to know the amounts to accurately calculate new paycheques and complete your tax forms.
- For the current quarter: Payroll details from each paycheque.
- For each prior quarter of this calendar year: Summary by employee and summary for all employees (total company payroll).
- Year to date totals for each employee: Summary by employee
- Year to date totals for each employee as of the last paycheque in the previous quarter: Summary by employee
5. Liability Information
- For the current quarter: Copies of all payroll liability cheques.
- For each prior quarter of this year: Summary of payroll liability payments.
Get started with payroll
- Activate your Payroll software by entering a payroll service key.
- Download the latest payroll tax table update. Intuit recommends that you update your tax tables every time you pay your employees, or at least every 45 days.
- Set your Payroll Preferences: for example, decide how you want pay stubs to look when they are printed.
- Create or set up new payroll items: payroll items can be set up and re-used. Common payroll items include wage, addition, deduction, and company contributions.
- Set up and create an employee record for each employee: enter information that's common to all of your employees as well as information specific to each employee.
- Pay employees: set up payroll schedules to pay employees each pay period or run payroll without a schedule.
- Create paycheques, then print paycheques or pay stubs.
- Pay your payroll liabilities by running a payroll liabilities report, using the Pay Liabilities window, and run reports to fill in payroll forms.
- Complete all of your payroll year-end tasks at the end of the calendar year.