When you’re at stage 2 of processing payroll (or in the Records section of payroll), you’ll see three boxes at the top of the screen indicating your payroll general ledger report. This report is based on a specific pay period rather than an annual total. The boxes consist of:
CRA REMITTANCES - a breakdown of CRA remittances
CPP (Canada Pension Plan) – Employee deduction
EI (Employment Insurance) – Employee deduction
Employer CPP – The employer matches the employees CPP contribution 1:1
Employer EI – The employer matches the employees EI contribution 1.4:1
Income Tax – Employee deduction
EMPLOYEE NET PAY - total employee net pay via cheque or direct deposit
Humi Payroll will determine which employees are set to CHQ versus direct deposit and will sum the amounts accordingly.
PARYROLL OBLIGATION - a breakdown of where the payroll funds have been allocated
Employee Net Pay – The net payments sent to the employees
CRA Remittances – The total amount remitted to the CRA
Other Deductions – A summation of the employee premiums set up in Benefits
Total Obligation – A summation of Employee Net pay + CRA Remittances + Other Deductions
Reimbursements – Total expense reimbursements paid to employees
Account Debit – The total amount to be debited from the company bank account. This is a sum of Employee Net Pay + CRA Remittances + Reimbursements. Note: the cost of Humi Payroll gets billed through credit card rather than debited from the company bank account.