This article is for Wave Payroll in Canada.
In Wave, the only time you are able to change your payroll frequency (from weekly to monthly, for example), is if you have not issued pay stubs.
You must choose the correct payroll frequency before running your first payroll.
If you are just testing and previewing what payroll looks like in Wave, and have not issued pay stubs, no worries! You can change the frequency by selecting Edit Schedule on your Payroll Setup page.
Then, select the change you want to make.
If you have run a payroll and issued pay stubs, you cannot change your payroll frequency. 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.
If you have questions or concerns about this, please contact our Customer Support Heroes.