Good afternoon,
We will soon have our first employee in our small business. I would like to do all the Payroll manually. I would like to know how some people here from Canada did setup everything.
Thank you for your help!
My 2 cents - I had to set up for USA from scratch - as there is not a std customization available for these regions (unsure). I suggest load the HR module, create employee, salary structure (basis, hourly, monthly, etc), create the tax witholding rates as templates (on income, etc) - it is self explanatory. The key is that the chart of accounts needs to have a taxes payable (witholding accounts for province and federal govt) and then matching journal entry when payment is actually made to govt. Hope it helps.
Thank you for your answer! I am trying to unravel all this, I just don’t want to do too much mistakes.