Getting Started with Paiday Payroll
Set up your business, accounts, and compliance requirements
How to create a payroll scheduleSetting up a payroll schedule ensures pay periods are clearly defined and employees are paid on time. Follow the steps below to create a payroll schedule for your client.
What is KYB (Know Your Business) and why it mattersKnow Your Business (KYB) is a critical part of the compliance process that helps verify the identity and legitimacy of the businesses we support. It ensures a secure, trustworthy environment…
Understanding the difference between a Business Number and Registry IDWhen registering a business in Canada, you may encounter both a Business Number (BN) and a Corporation Number. While they may seem similar, they serve distinct purposes in government registration,…
How pre-authorized debit (PAD) works for payroll fundingA Pre-authorized debit (PAD) agreement allows payroll funds to be withdrawn automatically from a designated bank account. It ensures payments are processed on time and securely.
Where the ROE contact info comes from, and how to update itWhen a Record of Employment (ROE) is created, the contact information that appears on the form is pulled directly from your Business settings.
Do you support paying independent contractors?Yes—independent contractors can be paid directly through Paiday Payroll provided they have a Canadian bank account.
How to create presets for benefits, deductions, earnings, and morePresets allow you to define benefits, deductions, allowances, earnings, and reimbursements at the business level. Once created, they can be applied quickly to employee profiles, saving time and improving payroll…
How to create a business entityWhen you create a business for the first time, you’ll automatically land on the Business settings page under the Details tab.
How to set up a business bank account and complete PAD authorizationTo add a business bank account for the first time—or when updating banking details—follow the steps below.
How to add a reduced EI rate to your payroll settingsIf your business qualifies for a reduced Employment Insurance (EI) rate, you can enter it directly into your account so that payroll calculations reflect the approved lower employer contribution rate.
Best practices for naming pay ratesWhen creating pay rates, it’s important to use titles that clearly describe how each rate is used in payroll, rather than naming them after job roles.
Company names in payroll setup: display vs. legal nameWhen creating a new company in payroll, you'll be asked to provide two types of names. Each serves a different purpose—one is for internal use, while the other appears on…