Collective reviews your salary and year-to-date gross earnings to make a recommendation on a reasonable compensation range that you can use to determine what to pay yourself.
If you would like to make changes to your salary, here are simple steps to make those changes on Gusto.
Increase or Decrease your Salary on Gusto.com
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Login to gusto.com
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Click the People section and select Team members.
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Click on your employee's name.
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Under Compensation, click edit.
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Enter their new salary or hourly rate.
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Select when their new compensation will be effective.
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Select an effective date for the new compensation by selecting a specific pay period from the drop-down menu. Select the first available pay period. The first day of the pay period is the day the change will take effect.
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Click Save.
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This compensation change is used to alter your monthly payroll.
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Your monthly payroll = annual salary/payroll frequency per year. Most of our members run payroll once a month. For example, the monthly payroll for an annual salary of $36,000, on a monthly payroll frequency, is 36,000/12 = $3,000/month.
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Note: You do not need to process any catch-up payroll when setting a new salary. Think of it as a raise at work, the boss doesn't retroactively catch you up. Though we can all dream :-)
Skip a payroll on Collective Payroll
Skip a payroll on Gusto.com
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Click the Payroll section and select Run payroll.
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Select a payroll to run.
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Next to your employee's name, click the three dots under the Actions menu on the far right.
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Click Skip payroll.
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Finish running payroll.
The employee you skipped will not be paid for this payroll.