RRSP Payments

RRSP information for employees (Bank Vendor, Bank Account No.) is saved on the Employee’s vendor record. This information is only viewable by the following roles:

  • MakeWay A/P Clerk
  • MakeWay Controller
  • MakeWay CFO

To add / edit RRSP Information

  1. Open the employees Vendor Record (Vendors > Lists > Vendors) and click “edit” next to the vendor record you wish to change.
  2. Select the form “MakeWay Vendor Form (A/P)”
  3. Navigate to the “Financial” tab, and to the “RRSP Information” sub-section
  4. Select the correct Bank Vendor Record in the “RRSP Bank” field drop-down
  5. Enter the employee’s Bank Account or Contract No. in the “RRSP Bank Account” field
  6. Save the vendor record

To create a cheque for RRSP Payment

  1. Create a new cheque (Financial > Banking > Write Cheques)
  2. ADMINISTRATOR: Make the custom form “MakeWay RRSP Cheque” the default
    • Navigate to “Customization > Forms > Transaction Forms
    • Click the PREFERRED checkbox next to “MakeWay RRSP Cheque” and click “Submit” to save
  3. ADMINISTRATOR: Change the Cheque Printing layout to the RRSP format
    • Navigate to “Customization > Forms > Advanced PDF/HTML Templates”
    • Click the PREFERRED checkbox next to “MakeWay RRSP Cheque PDF/HTML Template” and click “Submit” to save
  4. Select the form “MakeWay RRSP Cheque”
  5. Navigate to the “RRSP Information” sub-section
    • Select the employee from the “RRSP Employee” field drop-down
    • The Employee’s Bank Name and Account No. will populate in the appropriate fields
  6. Enter the “Payee” – use the exact vendor from the field mentioned in step 3b “RRSP Employee Bank”
  7. Select the correct subsidiary (The Foundation or The Society) and the correct Bank Account for payment (‘Vancity – CAD FN’ or ‘Vancity – CAD IN’)
  8. Verify the Bank Address
    • Some Bank Vendor Records have multiple addresses, the cheque transaction will only pull the default
    • If necessary, you can edit the Address field by typing (or copy-pasting) the correct bank address for the employee
  9. Enter the header details
    • Date, currency, amount, Memo = 20XX RRSP)
  10. Enter the line details
    • Select the appropriate account (“Payroll Clearing” if the expense was accrued in the previous fiscal year)
    • Enter the coding information (Designation, Award, Department)
    • The amount should equal the cheque amount in the Header
  11. Save the cheque
  12. Print the cheque (Financial > Banking > Print Cheques and Forms)
  13. ADMINISTRATOR: Reverse Steps 2 and 3 and set the default forms back to “MakeWay Cheque”