Once you’ve gathered all the information you need, you’re ready to set up payroll. Find the steps in Set up payroll in Wave.
The United States
Employee details
Name
Email, if you want to invite them to access their payroll information in Wave
Date of birth
Address
SSN
Date of hire
Salary or wage
Banking information, if you plan on paying your employee(s) with direct deposit
Tax details. Collect them by having your employee(s) fill out a W4 form. Using this information you can determine their rates for certain tax liabilities.
Business details
Business address
Business type (corporation, S-Corp, partnership, sole proprietorship)
Incorporation date
What you produce or sell, or what type of service you provide
Federal Employer Identification Number (EIN)
Your EIN is the number issued to you by the IRS to identify your business as officially registered with the government.
Company signatory details
Your company signatory is the individual in your business who has signing authority on behalf of the company. If you run the business by yourself, then you are the company signatory. It may also be a partner or a CFO, CEO or COO.
Name
Address
Date of birth
Phone number
SSN
Tax profile details
If you don’t know your rates or deposit and filing frequencies, click How can I determine this? when you’re in the Tax profile section of your payroll setup.
EIN
Federal Income Tax deposit and filing frequency
Federal Unemployment Tax exemption status
State deposit frequencies
State tax rates
State identifiers
Your State Identifier is similar to your EIN, but at the state level. It may also be referred to as your account number or account ID. Find your state identifier on any letter addressed to your business from your state’s department of revenue or labor.
Payroll history
Prior payroll reports
If you've run any payrolls this year before moving to Wave, have prior payroll reports on hand to ensure your tax calculations and reporting in Wave will be accurate.
Canada
Employee details
Name
Email, if you want to invite them to access their payroll information in Wave
Date of birth
Address
SIN
Date of hire
Salary or wage
Banking information, if you plan on paying your employee(s) with direct deposit
Tax details. Collect them by having your employee(s) fill out a TD1 form. Using this information you can determine their rates for certain tax liabilities.
Business details
Business address
Business type (corporation, S-Corp, partnership, sole proprietorship)
Incorporation date
What you produce or sell, or what type of service you provide
CRA Payroll Account Number
Your CRA Payroll Number is the number issued to you by the CRA to identify your business as officially registered with the government. Find this number on your business’s articles of incorporation, or on a tax return. It will be in the format: 12345 1234 RP0001.
Company signatory details
Your company signatory is the individual in your business who has signing authority on behalf of the company. If you run the business by yourself, then you are the company signatory. It may also be a partner or a CFO, CEO or COO.
Name
Address
Date of birth
Phone number
SIN
Tax profile details
CRA Payroll Account Number
CRA tax remittance deposit frequency
The frequency you make remittances to the CRA depends on how much you withhold in payroll taxes on a monthly basis. Determine which frequency applies to your business:
- Monthly: You withhold between zero and $24,999.99 in taxes on a monthly basis
- Threshold 1: You withhold between $25,000.00 and $99,999.00 on a monthly basis
- Threshold 2: You withhold $100,000.00 or more on a monthly basis
Payroll history
Prior payroll reports
If you've run any payrolls this year before moving to Wave, have prior payroll reports on hand to ensure your tax calculations and reporting in Wave will be accurate.