The Payroll invoice displays the total amount that will be collected from your company bank account on the date that payroll is finalized. Ensure you have sufficient funds in your company bank account to avoid any penalties due to insufficient funds.
- Navigate to the Reports > Payroll invoice tab.
- If you have multiple pay groups, select the paygroup.
- Payroll end cycle date – select the cycle end date to view the invoice associated with that payroll.
This report includes –
- Funds for net pay – this is the total amount of funds that will be collected to pay employees who are setup for direct deposit. This amount will match the 'Total deposits' line in the Deposit summary report and excludes any employee amounts that will be paid by cheques.
Source deductions – this is the total amount of funds that will be remitted to the CRA / Revenu Québec on your behalf. This amount will match the Receiver General report, where you can find a detailed breakdown of the taxes withheld. Note: you will need to remit taxes to the government manually if you have disabled tax remittances in your company settings.
Wagepoint processing fees – this is the total amount of fees collected for using our app.
GST/HST sales tax – the total amount in sales tax that is calculated on the processing fees.
If applicable, the payroll invoice report will also include collections for workers' compensation, Employer Health Tax (EHT) and/or Health Services Fund (HSF).