Retro paying a salary employee
Hello How would I process a retro pay in a past tax year via Wave?
My Year end in August 31, accountant finalizes by tax submission in October. States I need to take a small salary since it would cost less to pay CPP than pay taxes on it. I can't figure out how to do this via the payroll portion of Wave so I do a journal entry, assuming when I balance the payroll with submissions at the end of the tax year, I'll pay the CPP then. Now I am doing T4's but I don't get a T4 because I did not run it though the payroll portion. How would I process a retro pay in a pay period in August of last year via Wave?