Make stat pay calculations as easy as 1-2-3
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In Canadian payroll, “stat pay” can go by several different names. Depending on your province or territory, it might be known as statutory holiday pay, general holiday pay, public holiday pay, or even an indemnity. Regardless of the term used, it simply refers to the wages that eligible employees are legally entitled to receive for working or in lieu of a statutory holiday.
With different payroll legislation across the provinces and territories, it can be complicated and confusing to correctly calculate stat holiday pay for your team – and a miscalculation can be costly.
Fear not! Payworks is here to support Canadian small businesses like yours in paying employees accurately and on time for the hours they worked – including stat holidays. Today, we’re diving into two different options for stat pay calculators that Payworks clients can use to help demystify their team’s stat pay.
The stat calculator in Payroll: Manage your data, your way
The first calculator option we’ll look at is the Payroll Statutory Calculator. All payroll administrators need to do is enter the requested information, and the calculator will do the rest using average values from prior pay periods. This calculator is a great option for clients who are tracking employee time manually or in another system, and are looking for guidance in knowing which values they need to enter to complete a stat pay calculation.
If you’re a Payworks client who would like to take advantage of this feature, please reach out to your dedicated Client Services Representative (CSR) for assistance in setting up the calculator to meet your business’ unique needs.
Please note that due to the variability in payroll legislation across jurisdictions, the Payroll Statutory Calculator is not available in all provinces/territories (but don’t stress: we’ve got another option that’s available in all Canadian jurisdictions, which we’ll get to in a moment!) . Please reach out to your CSR for more information.
The stat calculator in Time Management: Review and approve for instant results
The second stat pay calculator option is available to clients using our Time Management solution. With time data seamlessly flowing through to Payroll, this Statutory Holiday Calculator enables clients to perform stat pay calculations on hourly pay quickly and easily because the required inputs are already configured and tracked through Time Management’s foundational functionality. The Payworks system is pre-populated with each province’s or territory’s stat holiday pay rules, which you can choose to:
- apply to your calculations based on your staff’s province of employment (POE), federal employment status, or custom statutory rules; or,
- override with any adjustments you’d like to see reflected in the calculation.
With automatic updates and notifications to ensure you’re compliant with legislative changes, you can feel confident processing payroll knowing you’re working with the most up-to-date information (yep, it really is that easy!).
Payworks pro tip: our in-house pros especially recommend using the Statutory Holiday Calculator in Time Management because it creates even more efficiency for our clients!
Want to see what a fully-loaded time solution that scales with your business looks like under the hood? Book a demo or read about Time Management’s efficiency-enhancing features here: https://www.payworks.ca/solutions/time-management.
How Payworks makes it easy to pay your people accurately and on time
When it comes to paying your team, we’ve got you covered with the tools and support you need to process payroll efficiently, accurately, and in accordance with local legislation. Whether you’re looking for guidance with manual stat pay calculations, or are wanting to be a little more hands-off with calculations done for you, we have just the thing!
If you’re a Payworks client looking to take advantage of the time-saving benefits that come with one of our stat pay calculators, reach out to your dedicated CSR for assistance. If you’re curious to learn how Payworks can help make paying your Canadian employees a breeze, book an introductory call with one of our experienced Sales Consultants: https://www.payworks.ca/landing-pages/campaigns/book-a-demo.
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