Get Live Quote Getting payroll approval with FundMore
Canada
Challenge
FundMore is a mortgage document management and automated underwriting platform with a team of 20 individuals - a mix of employees and contractors. Chris Grimes, Chief Executive Officer (CEO) of FundMore, was using payroll software before Wagepoint, but it wasn't meeting the needs of his small business. The previous software provider wasn't performing several payroll functions, resulting in FundMore spending considerable time each month performing payroll tasks manually. This meant more time spent on payroll that could have been spent elsewhere for the company.
We did not have a positive experience with our prior service provider. There were several payroll functions that the other service provider could not perform resulting in us spending considerable time each month performing payroll tasks. — Chris Grimes, CEO, FundMore
We really liked the number of reports offered and depth of analysis available. We also really wanted a solution that would integrate directly with our accounting software system. The access to customer support has been invaluable over the past year. We have been able to learn best practices and automate several tasks, including the posting of journal entries. — Chris Grimes, CEO, FundMore
This will be our first year-end with Wagepoint. We are looking forward to being able to issue T4s and T4As with ease and ensure that we meet all of the CRA compliance deadlines. — Chris Grimes, CEO, FundMore
We consider Wagepoint to be a partner of our organization and support in our onboarding process, issuing Records of Employment (ROEs), posting journal entries and making sure our employees receive funds in a timely manner. — Chris Grimes, CEO, FundMore
Solution
When it came to choosing Wagepoint as their new payroll software, Chris appreciated the speed and accuracy of the program. Once the rules, mapping and foundations were set up for the payroll, it was super easy and efficient to complete pay runs. Wagepoint offered a number of reports with depth of analysis available. The solution integrated directly with their accounting software system. The access to customer support was invaluable, allowing them to learn best practices and automate several tasks, including the posting of journal entries. The platform provided tools to handle both employees and contractors effectively.
Results
FundMore experienced improved payroll processing with better speed and accuracy. The integration with their accounting software eliminated manual data entry. The reporting capabilities provided better visibility into payroll operations. Because of how well things had gone up to the point of their first year-end with Wagepoint, Chris was confident about year-end tasks like filing and issuing T4s and T4As to employees, contractors and the Canada Revenue Agency (CRA), and was looking forward to meeting all CRA compliance deadlines.
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