Setting Up Payroll with Deel
Last updated May 7, 2024
Setting up payroll with Deel ensures that your global team gets paid accurately and on time, no matter where they are located. This article provides a concise step-by-step guide for configuring payroll in Deel.
Steps for Setting Up Payroll with Deel
- Complete Company Information:
- Verify that your company's legal information is complete in the "Settings" section.
- Provide necessary business details, bank account information, and payroll preferences.
- Add and Verify Payment Methods:
- Link your bank account, credit card, or other payment method for seamless payroll funding.
- Confirm bank account ownership through Deel's verification process.
- Configure Payroll Preferences:
- Select preferred payment currencies for different regions and employee groups.
- Set up payment schedules (weekly, bi-weekly, monthly) and define pay periods.
- Input Employee Details:
- Ensure each employee or contractor’s profile is complete, including tax identification, payment details, and payroll preferences.
- Confirm that payroll information complies with local tax and benefit requirements.
- Define Deductions and Benefits:
- Set up tax deductions, social security contributions, and other mandatory withholdings according to the local jurisdiction.
- Configure employee benefits, such as health insurance, bonuses, or pensions.
- Generate Payroll Reports:
- Use Deel’s payroll reporting features to generate tax forms, benefits summaries, and payroll statements.
- Review these reports to confirm data accuracy before running payroll.
- Review and Approve Payroll Runs:
- Conduct a final review of payroll runs to identify any discrepancies or errors.
- Approve payroll for each period to initiate automatic payments to employees.
By following these steps, you'll be well-prepared to manage payroll effectively and compliantly with Deel, ensuring that your global team receives timely and accurate compensation.
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