This article is for Wave Payroll in Canada.
In Wave, you can change your payroll frequency (from weekly to monthly, for example), if you have not run a payroll and issued pay stubs. If you have run payrolls, you will need to take a few steps first before the Payroll Team can make this change for you. This article will walk you through the process.
How to change payroll frequency if you haven’t run payrolls in Wave
If you are just testing and previewing what payroll looks like in Wave, and have not issued pay stubs, you can change the frequency by following these steps:
- Click Payroll on the left navigation menu, then select Run Payroll.
- On the Payroll Setup page, click the Edit schedule button beside Pay schedule.
- Make the required changes, then click Save & continue.
How to change payroll frequency if you have run payrolls in Wave
If you have run a payroll and issued pay stubs, you cannot change your payroll frequency in your Wave account. There are three main reasons for this:
- Every time your payroll changes frequency, it is a CRA requirement that an ROE must be issued for each employee in your company.
- There are tax implications for your business, employees, and Canada Pension Plan (CPP) contributions based on payroll frequency.
- Employees expect to be paid on the same frequency.
However, if you need to change the frequency, our Payroll Team can make this change for you. Before the payroll frequency can be changed, there are a few steps you need to take.
As part of this process, Service Canada requires you to issue ROEs to all of your active employees (this is outlined in Understanding the Record of Employment form).
To issue ROEs in Wave, you will:
- Place employees on leave using the offboarding option
- Issue an ROE for each employee
If Wave is issuing ROEs on your behalf, you can select the reason K12 Other / Change of payroll frequency.
Once you have completed these steps, click the help button at the bottom right corner in Wave, and type change payroll frequency. Mave, our support chatbot will help you submit a request to the Payroll Team.