At Common Wealth, our job is to make your plan easy to manage throughout the year and especially at year end. Ensure your contribution uploads in the employer dashboard reflect your employee’s actual paycheque deductions using Contribution Reports. An excel file is published in the Reports section of your employer dashboard account on a quarterly basis which provides the following valuable information:
- A Year-to-date (YTD) summary of all payroll uploads
- Itemized payroll register uploads by date submitted
- YTD contributions by employee
Review the report regularly to identify errors, omissions and discrepancies:
- Are all pay periods accounted for?
- Does the YTD total reconcile with your payroll/bookkeeping system?
- Are employee contributions allocated to the appropriate accounts (RRSP/TFSA/DPSP/DCPP)?
- Spot check year-end tax slips by employee
The reports will be published the first week of the month following the end of each quarter. A green dot will appear beside the Report tab, indicating there is something new to review. You will also receive an email notification when the report is available in the Employer Dashboard.
Need additional support?
We built these reports to enhance your dashboard experience and provide confidence with regular uploads. Please connect directly with our Customer Success Team at support@commonwealthretirement.com if you require further information or support.