Running Payroll

Overview

Process payroll to pay employees their stablecoin compensation. Toku handles the conversion, tax withholding, and distribution automatically.

Payroll Process

Review payroll data

Check that employee data is up to date and stablecoin elections are configured.

Create payroll run

Navigate to Payroll > Run Payroll and create a new payroll.

Set pay period

Select the pay period and pay date.

Review calculations

Verify gross pay, withholdings, and net amounts.

Approve payroll

Review the summary and approve for processing.

Process payments

Payments are sent to employee wallets.

Creating a Payroll Run

Dashboard
API

Navigate to Payroll

Click Payroll in the sidebar.

Click Run Payroll

Select Run Payroll to start a new run.

Select pay period

Choose:

Pay period start and end dates
Pay date
Payroll type (regular, bonus, off-cycle)

Review employees

See all employees included in this payroll.

Use the Create On-Cycle Payroll or Create Off-Cycle Payroll endpoint:

curl -X POST "https://api.toku.com/api/payroll/createOnCyclePayroll" \
  -H "Authorization: Bearer YOUR_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{
    "orgID": 100,
    "startDate": "2025-02-01",
    "endDate": "2025-02-28",
    "payDate": "2025-02-28"
  }'

After creation, finalize the payroll to approve it for processing.

Payroll Calculations

Gross to Net

For each employee, Toku calculates:

Component	Description
Gross Pay	Total compensation for the period
Tax Withholding	Federal, state, and local taxes
Deductions	Benefits, 401k, etc.
Net Pay	Amount to be distributed
Stablecoin Amount	Net pay × stablecoin percentage
Fiat Amount	Net pay × fiat percentage

Stablecoin Conversion

Net stablecoin amount determined
Exchange rate locked at processing time
Exact stablecoin amount calculated
Amount sent to employee wallet

Review and Approval

Payroll Summary

Before approving, review:

Total gross payroll
Total withholdings
Total net payroll
Stablecoin vs. fiat breakdown
Per-employee details

Approval Workflow

Depending on your settings:

Single approver
Multiple approvers
Automatic approval below threshold

Payment Processing

Stablecoin Payments

Sent immediately upon approval
Arrive in employee wallets same day
Transaction hashes provided

Traditional Payments

Processed through your bank or payroll provider
Standard ACH timing applies

Payroll Types

Regular Payroll

Standard scheduled payroll (weekly, bi-weekly, monthly).

Bonus Payroll

One-time bonus payments outside regular schedule.

Off-Cycle Payroll

Corrections, termination pay, or special payments.

Payroll Status

Status	Description
Draft	Payroll created, not yet submitted
Pending Approval	Awaiting approver action
Approved	Approved, payments processing
Processing	Payments being sent
Completed	All payments successful
Partially Completed	Some payments failed

After Payroll

Once payroll completes:

Employees receive payment notifications
Payslips are generated
Transaction records are stored
Reports are updated

Payroll Client Guide — Step 4 of 5. Previous: Payroll Integration Setup | Next: Payroll Reporting

Overview

Payroll Process

Creating a Payroll Run

Payroll Calculations

Gross to Net

Stablecoin Conversion

Review and Approval

Payroll Summary

Approval Workflow

Payment Processing

Stablecoin Payments

Traditional Payments

Payroll Types

Regular Payroll

Bonus Payroll

Off-Cycle Payroll

Payroll Status

After Payroll

Next Steps

Reporting

Payroll FAQ

​Overview

​Payroll Process

​Creating a Payroll Run

​Payroll Calculations

​Gross to Net

​Stablecoin Conversion

​Review and Approval

​Payroll Summary

​Approval Workflow

​Payment Processing

​Stablecoin Payments

​Traditional Payments

​Payroll Types

​Regular Payroll

​Bonus Payroll

​Off-Cycle Payroll

​Payroll Status

​After Payroll

​Next Steps

Reporting

Payroll FAQ

Overview

Payroll Process

Creating a Payroll Run

Payroll Calculations

Gross to Net

Stablecoin Conversion

Review and Approval

Payroll Summary

Approval Workflow

Payment Processing

Stablecoin Payments

Traditional Payments

Payroll Types

Regular Payroll

Bonus Payroll

Off-Cycle Payroll

Payroll Status

After Payroll

Next Steps