Monthly payroll amounts not consistent

johncbennettjohncbennett Member Posts: 2

I am using Wave Payroll for my Ontario-based Canadian corporation.

All of our employees are paid salary, on a monthly basis. The annual salary for each employee is entered under "Salary" in the Payroll section. The salary amounts are entered as annual amounts -- not an hourly rate. There is a required field, "Average Hours per week" that must still be entered. I have entered 40 here (as suggested in the field description, but it should be irrelevant to the pay amount.

When we manually ran payroll, we would pay a monthly amount that was 1/12 the annual rate: For example, for an employee with a salary of $60,000 per year, the monthly amount would be $5,000/month.

With Wave Payroll, it seems to be calculating the salary amount based on the number of "hours" worked in the month -- for January, 2020, it's showing 173.33 hours for each employee in the pay period for January 1-January 31, 2020. For an employee with a $60,000 salary, I am getting an amount of $4,987.16 for the monthly salary -- divided between "Regular pay" of $4,783.61 and "Statutory Holiday Pay" of $204.55.

This is not correct, nor does it correspond to our previous month's payroll (December 1-31, 2019, payable on January 1): That month had the correct payroll amount.

Is there a way to adjust this so that the monthly amounts are correct?

Comments

  • BarsinBarsin Administrator Posts: 1,774 admin

    Hey @johncbennett

    I see you spoke with one of our agents over chat regarding a payroll adjustment entry for the employee for this particular issue. Glad you got it resolved in time!

  • johncbennettjohncbennett Member Posts: 2

    Hi @BarsinA,

    Well, sort of. The advice was "manually adjust it this time and I'll report the issue to the developers". I'll be circling back next month to review it again, but a manual adjustment for a monthly payroll is a bit of a bandaid.

    John

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