Overview

One-time contributions allow you to process payroll amounts that fall outside of your regular pay schedule. You can use this feature for scenarios like bonus payments, bulk adjustments for salary increases, or to make corrections for a missed payroll.

This guide explains how to process a one-off payroll based on your specific processing model.

How to process a one-off payroll

Step 1: Go to the Payroll tab

1. Log in to your Wealthsimple profile.
2. Select the Profile menu in the bottom left corner.
3. Select your company name to view your admin dashboard.
4. Navigate to the Payroll tab.

Step 2: Create the one-off payroll

1. Select Create a one-off payroll.
2. You will be prompted to select the pay date. This is the date contributions will be deposited into your members’ accounts.
3. Select No default contributions. This ensures that only the manual amounts you upload will be processed.

Step 3: Download and fill out the contribution file

The next step depends on your payroll processing model.

For Wealthsimple-centric or sponsor-centric models

1. Select Preview contribution CSV to download the file.
2. Open the template and find the Employee_contribution_amount column.
3. Enter the dollar amount for each employee receiving the one-time contribution. For example, for a $1,500 bonus, you would enter 1500.
4. If employer contributions apply, make sure to fill out the appropriate employer contribution columns as well.

For the Bi-Centric model

1. In the Step 2 - Upload final payroll section, click Download template.
2. Open the file and enter the final dollar amounts to be deposited in the correct columns. For example:
   • Group_RRSP_employee_contributions
   • Group_RRSP_employer_contributions (if applicable)
   • Other account types (if applicable)

Step 4: Upload the file and finalize payroll

1. Return to the Payroll tab.
    
2. Upload your completed contribution file. Depending on your model, you will either:
   • Select Upload contribution changes, or
   • Drag and drop your final file into the upload box.
      
3. Review the file for any validation errors.
    
4. Finalize the payroll. Depending on your model, you will either:
   • Select Finalize payroll and create CSV, or
   • Select Review payroll and then Finalize payroll.

Once submitted:

• Contributions will be processed using the dollar amounts and pay date you provided.
• Funds will be allocated to employee accounts according to the account type specified (if multiple account types are offered).

Tips for one-time contributions

• Always enter dollar amounts only, not percentages.
• Validate all amounts against your payroll system before you upload the file.
• If applicable, ensure any employer match rules are applied correctly.
• Confirm that one-time contributions are clearly shown in your total payroll reporting.
• Keep a copy of your submitted file for your records.