If you're switching to Wave mid-year, you will want to enter in your historical payroll data. This will help ensure that employee tax forms and pay stubs are accurate and we calculate the appropriate amount of tax to withholding. Entering this information will also make year end filings a breeze.
Select the gear icon and click Year-to Date Prior Payrolls.
Our Prior Payroll entry wizard will walk you through all the required steps. Further details are included below to give you a better idea of the process.
To begin, click Start the year-to-date process.
- Step 1 requires you to enter the start date of the first payroll of the year, and the finish date of your most recent payroll. If your pay period crosses the New Year, enter January 1st as the start date. For example, if you ran two payrolls, one from December 16th-31st, and paid on January 2nd, and another payroll from January 1st-15th, and paid on January 17th, you would put the start date as January 1st, and the end date as January 15th.
- Step 2 requires you to input the total wages paid to each employee by quarter, as well as all taxes that were withheld. The quarterly breakdown is necessary so that we have all the required information to accurately help you complete tax filings. If you are migrating from another payroll provider they will typically have a report that details all the wages and withholding by employee.
Once you have saved all of the year-to-date information we will provide a summary for you to compare to your records. If you see any discrepancies or would like to start the process over simply contact our Customer Support Heroes and they'll reset the wizard as needed.
What's next? If you'd like to go paperless and pay your employees via direct deposit, at no additional charge, it's time to complete Step 4: Direct Deposit Application.
If you prefer to pay your employees by check you can skip ahead to Step 5: Entering Employee Hours.