Entrepreneurship & Small Business

paystub generator - small business

  • Last Updated:
  • May 28th, 2017 11:55 am
Newbie
Aug 12, 2014
78 posts
14 upvotes
Brampton, ON
I'm a CPA, CGA and offer payroll services on the side if anyone is interested. Cheaper pricing then places like ADP of course. :)

Feel free to PM.
Deal Fanatic
Feb 1, 2006
9190 posts
301 upvotes
Forget ADP/Ceridian, they are dinosaurs who survive by hosing bigger companies that are hesitant to change.

PaymentEvolution is excellent and free/cheap, I use them for a dozen clients payroll needs.
Sr. Member
Nov 1, 2003
590 posts
71 upvotes
We use payweb through Costco. It's not cheap at about $25 per pay period for 3 employees, but all I do is input the hours online and it does all the calculations, remittances, emails paystubs, direct deposit to employees, direct debit our business account and prepare forms, T4s, etc for us. It takes me about 5-10 min every two weeks to do payroll so it's worth it for the ease.
Deal Addict
User avatar
Dec 30, 2007
4014 posts
312 upvotes
NEMESIS_2008 wrote:
Oct 15th, 2012 12:26 pm
Try paymentevolution.com
+1 for https://paymentevolution.com/
We been using this for just over a year and so far no complaints. sign up is free up to 5 employees. If you sign up for the monthly service you can chose them to remit for you and even direct deposit into your employees account.

The cloud software is abit clunky if you have lots of employees and have to enter many different items on the paystub but other than that we like it.
Deal Addict
Mar 16, 2015
1062 posts
113 upvotes
Toronto, ON
YLSF wrote:
Apr 6th, 2017 3:23 pm
Wouldn't they accept a T4? I imagine you T4 out every year? That would seem like the best type of documentation for a lender to have.

We just print out the CRA website payroll sheet when we do our payroll.
This should work for OP.Wouldn't lenders be fine with the T4?
Is paystub really necessary?
I am in a different situation. I dont draw salary from my corporation every 2 weeks or so. I only take money out a bonus that too only twice a year.
When I do that, my accountant calculates my Net, employee part of CPP, employer part of CPP, Taxes and sends me an excel sheet.
Based on that excel sheet I make payments to myself and remit the money to CRA. At the end of the year accountant uploads T4 information return to CRA and issues me a T4 slip.
Now even if I take money twice a year, do I need paystub ( for some other purpose like OP said in future) . I dont need one for myself. I am ok with the excel sheet that accountant sends.
I can easily take salary every 2 weeks etc but dont do it as I dont have much need of money every month and making payments to self and CRA every month twice is a hassel. Is there any other reason ( looking like a regular employee etc) for me to take salary every 2 weeks or I am ok doing what am I doing.
I am the only employee of my incorporation.
Deal Fanatic
May 23, 2003
8901 posts
720 upvotes
GTA
CocoJambo wrote:
May 11th, 2017 10:36 am

Now even if I take money twice a year, do I need paystub ( for some other purpose like OP said in future) . I dont need one for myself.
Hey, no reason to have a paystub as far as I am concerned. We do more or less what you do but we use the CRA website to do the calculation for us on what to remit vs. an excel spreadsheet. I have never had anyone ask for a paystub before. Even when I applied for a credit card one time they wanted proof of employment income but I provided my T4. I think another time I had to provide my notice of assessment for something as proof of income too.
Deal Addict
Mar 16, 2015
1062 posts
113 upvotes
Toronto, ON
YLSF wrote:
May 11th, 2017 11:35 am
Hey, no reason to have a paystub as far as I am concerned. We do more or less what you do but we use the CRA website to do the calculation for us on what to remit vs. an excel spreadsheet. I have never had anyone ask for a paystub before. Even when I applied for a credit card one time they wanted proof of employment income but I provided my T4. I think another time I had to provide my notice of assessment for something as proof of income too.
OK but in scenario like me ( taking money twice a year only) using CRA calculator or other website calculator does no good. All these calculator ask for a pay period frequency which has generic values that range from 52 pay period to min 10 pay period but nothing less than that. So my calculations are all manual. Indeed in the first money takeout itself, I max the CPP contribution. Last time my accountant even deducted more taxes ( I got refund) than what he should have. He is conservative in these matters.
So just for a paystub , I really do not want to open yet another account with lets say payment evolution. Moreover I do not know whether payment evolution ( Free version) will let me enter my own values for all the deductions and taxes or offer me standard calculator which will be of no use to me ( Can anyone using free version of payment evolution confirm this pls)
I do not need their epay ( direct deposit service etc) as I do that from my RBC e Account.
Deal Fanatic
May 23, 2003
8901 posts
720 upvotes
GTA
CocoJambo wrote:
May 11th, 2017 1:12 pm
OK but in scenario like me ...
I would take the advice of your accountant on this. From what you said, again, I see no need for you to have Paystub calculations or any other calculations. It sounds like you are setup just fine for your needs.
Deal Addict
Mar 16, 2015
1062 posts
113 upvotes
Toronto, ON
Hi Folks, I have a question and did not want to create separate thread just for it. ( I know I am asking so many questions nowadays but I am a newbie in contracting. Thx in advance for all your help)
As you see in my post above, I do not take bi weekly or monthly salary( no need of cash flow) and rather take random bonus. Now since my corporation's financial year is coming to an end , I and my accountant are doing calculations and I would be taking around 80 to 90K bonus. Now do I just make this big a payment in a single cheque transaction to myself ( ofcourse after CRA remittances). I mean I can explain that it is because I haven't taken any salary hence a big amount but do you think such big payments draw unnecessary scrutiny by CRA or any other govt agency. I mean all is clean here but why cause unnecessary attention which increase admin work.. answering calls , explaining things etc.
First question- Is 80 or 90 K a big payment in a single cheque ? should I try to break the payment in 2 or 3 smaller parts?
Deal Addict
Mar 16, 2015
1062 posts
113 upvotes
Toronto, ON
Bump ..sorry for asking again but does anyone know if paying 80 or 90 k in a single transaction to yourself can cause some inquiries and should i break the payment in smaller chunks....see post above
Newbie
May 28, 2017
4 posts
I have not read all the replies but check PaymentEvolution.ca they have self sign up and are free, you just pay if you need employee online access to pay stubs or direct deposit. We have used them for awhile, they work pretty well and are easy to use. I wouldn't recommend Wave, I tried them but they can't do off cycle runs at all. So I had one employee need an urgent off cycle commission payment and they told me pay them by cheque instead. QuickBooks also isn't very good, very strict like Wave was, no off cycle and so on.

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