To Implement WSIB in AccountEdge
Click into the Payroll command center
Click the Payroll Categories button
Select the Expenses tab at the top
Click the New button
Name the Expense: WSIB
Type of Expense: Other
Expense Basis: Equals YourRate Percent of Gross Wages
Expense Limit: Equals YourRate Percent of Gross Wages***
Click the Employees button, and place a tick to the left of the appropriate employee names
Click OK
Click OK
The WSIB will be expensed every payroll, and you would use Pay Liabilities to remit the premium when it's due.
*** This calculation of Gross Wages will be based on the gross pay of this check times the number of pay periods, so it may differ slightly from the WSIB calculator, which uses a flat gross wage times rate. Alternatively, you can indicate an expense limit of (the product of gross times rate) in the Equals Dollars per Year line.