How to set up your payroll in Fincon Online?
Learn how to add your business information add employees and set up payroll taxes to start to go to employees.
Select add an employee, enter the name address, and phone number of your business. Then enter your name and email address. This will be used to send you reminders about your payroll selection. Continue next if you have paid your employees yet this year.
So let’s continue to select whether or not you have the TD-1 forms filled out by your employees. If you need to print out a TD-1 form you can do that here when you’re ready.
Select continue now, let’s add an employee. Enter the name of the employee choose our hiring date from the calendar enter an email address and check this box. If you want them to be able to see their pay stubs online. This will invite them to set up their Fincon Workforce account; next, you’ll need to fill out the withholding information for your employee. You get this by having them fill out a TD one that you need a blank CD one. You can download one. Once you have a completed TV one from your employees’ select enter PD-1.
Click the payroll automatically filled out provincial tax withholding based on what you filled out for federal because it is usually the same but you can make changes if you need to once everything looks good to select done next select the payment schedule to tell us how often you pay these employees when their next payday will be and when the last day of the next pay period will be the payday is the day Tech go out but the pay period is the day you are paying your employees.
Going for Fincon payroll shows you the next for paydays and pay periods based on the information you entered so you can check that everything is correct. You can name your schedule. And if you want to review you’re for other employees, just check this box. If everything looks good select done next tell us how much you pay your employees for this example. We will select an hourly rate. We can also add additional pay types such as overtime and sick or vacation pay just add. to the vacation policy. We’ll use the province’s minimum rate. If your employee has any deductions for things like health insurance or retirement plans are them by selecting add deductions then fill out the details and select OK next tell us how you plan to pay your employees. If you pay them by direct deposit you can set that up here if you have your bank account connected. You’ll just need a blank check from your employee to fill in some information.
If you haven’t connected your bank to Fincon payroll still needs to do that first. We will select a paper check for this employee. You can always come back and change this later if you want to if everything looks good select done. You’ll follow the same steps to add your other employees. Now, let’s set up your payroll taxes go to taxes and payroll tax select continue to tax setup enter your
Business name and the address you use when filing tax forms, if you know your CRA payroll account number enter it here then select how often you remit payroll deductions and contributions to the CRA. If you’re not sure select monthly the CRA will let you know if you need to change it select to continue your payroll taxes are now set up. If you need to change your tax setup. You can do that here in the payroll tax Center. You can also view your tax liability. Art and tax payments you’ve made you’ll see what tax payments are due and when it’s time to pay them you can record the payment form here. You also have access to a variety of forms for you and your employees. Now, you’re ready to set up your payroll in Fincon Online.