Running Payroll using Wagepoint

 

 

Matthew Scott, CPA / September 21, 2023

 

Are you looking for a simple and fast online payroll software for your small business? If so, you might want to check out Wagepoint, a Canadian company that offers a comprehensive and easy-to-use payroll solution for small businesses across North America.

 

In this blog post, I will share with you some of the features and benefits of using Wagepoint, as well as some tips and tricks to make the most of it.

 

What is Wagepoint?

 

Wagepoint is an online payroll software that helps you pay your employees and contractors easily and accurately. It also handles federal, provincial, and territorial taxes, as well as other payroll-related tasks such as generating T4s/T4As, Records of Employment (ROEs), and Workers’ Compensation reports.

 

Wagepoint is designed to be user-friendly and intuitive, with built-in tips and guides, clever add-ons and integrations, and world-class support. You can sign up for a free trial and run your first payroll with no charge, no credit card, no contract, and no commitment.

 

Why use Wagepoint?

 

There are many reasons to use Wagepoint for your small business payroll needs. Here are some of the main ones:

 

  • Save time and money: With Wagepoint, you can run your payroll in minutes, instead of hours or days. You can also automate your payroll schedule, so you don’t have to worry about missing deadlines or forgetting payments. Plus, you can save money on payroll fees, penalties, and interest by avoiding errors and staying compliant with tax laws.
  • Stay compliant and secure: Wagepoint is CRA compliant and follows the highest standards of security and encryption. It also updates its software regularly to reflect the latest tax rates and regulations. You can rest assured that your payroll data is safe and accurate with Wagepoint.
  • Access anytime, anywhere: Wagepoint is cloud-based, which means you can access it from any device with an internet connection. You can also give your employees and contractors online access to their pay details, so they can view their current and past paystubs, edit their banking and personal information, and access their T4s/T4As anytime they want.
  • Get support when you need it: Wagepoint has a friendly and knowledgeable team of payroll experts who are ready to help you with any questions or issues you might have. You can also find helpful resources on their website, such as FAQs, blog posts, webinars, and ebooks.

 

How to use Wagepoint?

 

Using Wagepoint is easy and straightforward. Here are the basic steps to get started:

 

  • Sign up for a free trial: You can sign up for a free trial on their website by entering your email address and creating a password. You will then be asked to fill out some basic information about your business, such as name, address, industry, number of employees, etc.
  • Set up your company: After signing up, you will be guided through the setup process, where you will enter more details about your company, such as payroll frequency, tax accounts, bank accounts, etc. You will also need to authorize Wagepoint to file taxes on your behalf.
  • Add your employees/contractors: Next, you will add your employees and contractors to your payroll. You can either enter their information manually or import it from a spreadsheet or another software. You will also need to set up their pay rates, deductions, benefits, etc.
  • Run your first payroll: Once you have added your employees/contractors, you are ready to run your first payroll. You can either run it manually or set it to run automatically on a regular schedule. You will be able to review the payroll details before submitting it. After submitting it, Wagepoint will send direct deposits to your employees/contractors’ bank accounts and file taxes with the CRA.

 

Tips and tricks for using Wagepoint

 

Here are some tips and tricks to help you make the most of Wagepoint:

 

  • Use the dashboard: The dashboard is where you can see an overview of your payroll status, such as upcoming payrolls, pending approvals, recent payments, etc. You can also access other functions from the dashboard, such as reports, settings, support, etc.
  • Use the reports: The reports section is where you can generate various reports for your payroll data, such as paystubs summary report, tax remittance report, ROE report, etc. You can also export these reports in different formats (PDF, CSV, etc.) for your own records or for sharing with others.
  • Use the integrations: Wagepoint integrates with many other software and apps that can help you streamline your payroll and accounting processes, such as Xero or QuickBooks Online.
  • Use the support: If you ever need help with Wagepoint, you can always contact their support team by phone, email, or chat. Or, contact us (Matthew Scott CPA), a Wagepoin Certified advisor. You can also find answers to common questions on their FAQ page or learn more about payroll topics on their blog, webinars, and ebooks.

 

Conclusion

 

Wagepoint is a great and competitive option for small businesses looking for a simple and fast online payroll software. It offers a comprehensive and easy-to-use payroll solution, keeps you compliant and secure, and gives you access anytime, anywhere. It also has a great support team and a variety of integrations and resources to help you with your payroll needs.

 

If you are interested in trying out Wagepoint, you can sign up for a free trial today and run your first payroll with no charge. You can also use the following link or use code MATTHEWSCOTT to receive 10% of your monthly bill. 

 

If you would like professional help setting up your company's payroll using Wagepoint, contact us today! Let's get started.