When setting up your payroll profile, you must set up a tax profile. This allows Wave to calculate your portion of payroll tax liabilities and remind you when tax payments are coming due. Learn how to track your payroll tax liabilities and payments.
When you set up payroll, you must enter tax details in two sections to complete your tax profile: your Business profile and Tax profile.
Complete your payroll Business profile
Complete your payroll Tax profile
Complete your payroll Business profile
To complete your Business profile, you will be asked for your CRA payroll account number. If you do not have this number yet, you can run payrolls, but Wave cannot remit tax payments or process an ROE on your behalf. Learn about applying for a Payroll Account Number.
To complete your business profile:
- On the left-side menu, click Payroll > Run payroll.
- In the Business section, next to Business, click Add details.
- Enter your business information.
- If you have your CRA payroll account number, enter it here. If you do not have a number yet, click the checkbox beside I applied and am waiting for my Payroll Account Number.
- Click Save and continue.
When you receive your CRA payroll account number, update your business tax profile.
Complete your payroll Tax profile
Your payroll Tax profile is your CRA payroll account number and your tax remittance frequency. To select your remittance frequency:
- In the Business section, next to Tax profile, click Add details.
- In the dropdown menu, select your payroll remittance deposit frequency.
- Click Submit.