This article will summarize steps to get set up with Corfix Payroll.
Step-by-Step Guide
1. Set up the Company Details.
Business Settings will have to be set up within your Corfix Account Settings.
More on Business Settings
2. Add Employees
Enter all employees, including active and terminated ones. Active ones should be added in through Workers Page.
More on Add/Manage Workers
3. Add a company bank account
After setting the Workers you will want to set your company bank account.
More on Adding Bank and completing PAD Authorization
4. Confirm Pay Schedule
Your Pay Schedule should already be configured from Step 1. Confirm the pay Schedule on the Pay Schdules page through Business Settings by pushing Save. Configure the Pay Day Movement Setting, best practice is Previous Business Day.
5. Configure Vacation Pay
Your Vacation Pay (%) will be paid out as per your configuration in Step 1. The percente you had assigned will be automatically assign to any Workers moving forward. Set Calculation Date and push Save.
More on Vacation Pay Calculation Timing.
6. Configure company presets
Set up company benefits such as health plans or additional allowances that apply to the employees, under the Presets tab.
More on Creating Business Benefits and Allowances
7. Obtain and submit the year-to-date report
Before launching, obtain your Year-to-Date (YTD) report submit the YTD to your CSM. This ensures accurate data continuity and helps set the stage for the dry run (if applicable).
8. Input Worker payroll data
Add the following Worker data to Workers details page.
- Social Insurance Number (SIN)
- Bank Account
- Assign Benefits (Employee and Employer Contributions)
- Assign Allowances
- Assign Deductions
- Set up Stat Holiday Pay
9. Add Contractors
Contractors can be paid from Corfix Payroll. The following data will be needed for each Contractor.
- Business Name
- Personal Data (First Name, Last Name, Email Address)
- Bank Account
More on Independent Contractors
10. Add Employer payroll tax (EPT)
Employer payroll tax (EPT) is a provincial payroll tax that applies once a business’s annual payroll exceeds a specific threshold. The system automatically calculates EPT and helps forecast your liability, reducing year-end surprises and supporting compliance.
Adding Employer payroll tax (EPT)
11. Validate year-to-date (YTD) data
Verify that all YTD data is entered correctly for accurate payroll processing and reporting.
12. Resolve outstanding issues from the dry run (if applicable)
Any issues identified during the dry run must be resolved before the client goes live. This helps prevent potential problems from affecting the actual payroll process.
13. Validate payroll calculations
If a dry run is not performed, check that net pay calculations are accurate by comparing them with the payroll register from the previous provider or using tools like Payroll Deductions Online Calculator (PDOC). Click Here
14. Ensure the PAD agreement is signed
Sign the Pre-Authorized Debit (PAD) Agreement, which is essential for setting up automatic payroll deductions.
Pre-Authorized Debit Agreement
15. Complete KYB compliance
Ensure the Know Your Business (KYB) process is completed and cleared for regulatory compliance and financial integrity.
Understanding KYB (Know Your Business)
16. Verify the ROE authorization form
Sign the Record of Employment (ROE) Authorization form, which is necessary for issuing ROEs on your behalf. Email the filled out document to your CSM.
ROE Consent Form (If you would like for Corfix to submit ROE's on your behalf)
ROE Submission Types: Self Submitter vs. Managed Submitter
17. Double-check the remittance frequency
Ensure the remittance frequency is set correctly according to your need's to prevent late payments.
18. Communicate with employees
Remind your employees with an email informing them of the switch to a new payroll provider. The email should include details on any payroll frequency changes, new pay stubs, and corrections that might affect their net pay. Clear communication will help employees understand and adjust to the changes smoothly.
Here is a helpful email template you can use. Click here to download.
19. Exit preview mode
When a dry run is conducted, your account enters Preview mode. In this mode, payroll can be processed for testing purposes, but no actual funds will be transferred. Once you've reviewed everything and are ready to go live, contact your Customer Success Manager (CSM) by email to request that your account be taken out of Preview mode. Only your CSM can complete this step.
20. Run payroll
Process the payroll to pay employees. Double-check the results to ensure everything is accurate.
Following these tips and ensuring that each step is thoroughly completed will prepare you for a successful payroll launch. This preparation minimizes the risk of issues post-launch. It sets the foundation for a strong ongoing partnership with your client.