Step 1: Create a Benefit

In today's day and age, attracting and keeping top talent is one of the major struggles for many businesses. Providing unique benefits for employees is just one of many ways to strategically attract and keep top talent at your company. 

Unless you've been living your best life on an island in the middle of the ocean (in which case, we're jealous), you know that there's been a "workforce revolution" of sorts recently. Job seekers and current employees alike are no longer only considering the salary when deciding whether or not to accept a job offer or stay with their current employer.

Luckily, Humi Payroll simplifies the setup, remittance, and reporting of employee benefits for you.

How to create a "Benefit"

Setting up a benefit in Humi is fairly easy to do:

1. In "Payroll" select the "Benefits & Deductions" tab and click on "Benefits" from the dropdown options.

   
   

   Note

   You'll be directed to the "Benefits" page where you'll be able to view/edit all of your current benefits set up for payroll.

   From here, you'll have the option to:

   • Create a new benefit 
   • Request a Custom Benefit 
   • Add employees to benefits
2. To create a new benefit, click the "+ Create Benefit" button on the top right corner.
   
   
3. Select the benefit "Type" from the drop-down. This is important because it tells Humi how to tax the benefit and ensures it'll be in the correct spot on your employee's T4.
   
   

   The Benefit "Types" available to choose from are:

   Medical/Health Critical Illness Dental Vision STD LTD Life Insurance Dependent Life Insurance AD&D

   Profit Sharing Defined Benefit Pension Plan Defined Contribution Pension Plan TFSA RRSP (Non-Restricted) RRSP (Restricted) Taxable Benefit (In Cash) Taxable Benefit (Non-Cash)

4. After choosing the benefit "Type," you'll need to "Name" the benefit.

   Important Note

   The "Name" that you enter here will be shown on all pay stubs and payroll reports.

5. Next, you'll need to enter your GL codes that are applicable to the benefit you're setting up.
   
   
   

   Note

   If you're unsure what the GL codes are right now, you can always leave these blank and fill them in later by going back to Benefits > Selecting the benefit you created > Edit.

   Another option is to add them in the Journal Entry Report Settings (Reporting > Payroll > Journal Entry Report > Report Settings)

If you need to Request a Custom Benefit, click here to learn how.

If you don't need a custom benefit, you can move on to the next step:

 Step 2: Add Employees to Benefits

  Additional Resources

• CRA Employers Guide - Taxable Benefits and Allowances
• Understanding Taxable Benefits

• Manage Tax Forms