Sage 50 T4 slips list the employee profit and duty (tax) data you should submit to the central government toward the finish of the schedule year. This data incorporates:
- Business pay before allowances
- “Quebec Pension Plan (QPP) commitments and Canada Pension Plan (CPP)”
- “Employment Insurance” (EI) expenses, “Quebec Parental Insurance Plan” (QPIP) charges
- Annual expense deducted
- Available advantages
- Worker and boss data
You can document paper duplicates of Sage 50 T4 slips, or you can record them electronically. In any case, in the two cases, you need to give duplicates to your workers.
Note: If you are documenting in excess of 50 slips, the CRA expects you to record your sage 50 T4 slips electronically.
A Sage 50 T4 Summary records the all out qualities from sums provided details regarding related T4 slips, and is submitted along with the T4 slips.
Filing Sage 50 T4 Slips Electronically
Utilize Sage 50 Accounting to electronically document (EFILE) your Sage 50 T4 slips by means of the XML (Internet File Transfer) administration. Electronic documenting speeds handling, so you can follow through with year-end responsibilities rapidly.
The CRA (Canada Revenue Agency) expects that you record your sage 50 payroll tax documents by the last day of February (or the following work day, assuming this day falls on a Saturday or Sunday ) of the schedule year following the year to which they relate. You should likewise convey duplicates of the T4 slips to your representatives by this equivalent date.
Note: If you are recording in excess of 50 slips, the “Canada Revenue Agency” expects you to document your sage 50 t4 slips electronically.
Filing through the Internet
Visit the CRA site for current data about record size limitations on Internet File Transfer.
Requirements for filing sage 50 T4 slips electronically
Other than the overall requirements for recording T4 slips, you should be enlisted for the CRA E-File administration. Whenever you register, you will get a Web Access Code (WAC) for Internet recording.
This six-character code (two letters and four numbers) is pre-imprinted on the highest point of the customized sage 50 T4 Summary structure you get from the CRA. On the off chance that you have not get a WAC, contact the CAR to affirm your qualification and acquire a code for Internet documenting.
Printing Sage 50 T4 slips and Summary
You can utilize Sage 50 Accounting to print sage 50 T4 slips and its related T4 rundown on pre-printed structures or on plain paper. Assuming you are utilizing pre-printed structures, we suggest you do a test print so you can change the print arrangement and text style settings if vital.
To print a Sage 50 T4 Slip and Summary:
- In the Home window, on the Reports menu, pick Payroll, and afterward “Print T4 Slips and Summary”.
- In the Select Year segment, select the year you need printed.
- Select a representative or workers from the rundown, or pick Select All to incorporate all representatives. Assuming you want to print T4 slips for latent workers, select the “Include Inactive Employees” really look at box, and afterward select the idle representatives in the rundown.
- To print T4 slips for the central government, select the Print CRA Copy really look at box.
- To print T4 slips for your workers and your organization records, select the “Print Employee And Company Copies” actually look at box.
- To print a T4 outline for recording, select the Print CRA T4 Summary actually look at box.
- Fill in the containers on the T4 Summary Contact Information and T4 Summary Business Information buttons, or check the data showed on these tabs.
- Click on OK.
- In the Income part of the T4 Box Options discourse, pick the crate number to print every pay sum in, or leave the containers clear (click the bolt button to one side of a case to show a rundown of the numbers from which you can pick).
- In the Deductions segment, pick the case number to print every derivation sum in, or leave the containers clear (click the bolt button to one side of a crate to show a rundown of the numbers from which you can pick).
- Click on OK.
- (Discretionary) Missing or right organization and representative data can be entered in your organization data and in the worker’s record individually.
General requirements for documenting Sage 50 T4 slips
Prior to filing T4, confirm that you have these requirements:
- Assessing the qualities on the T4 and RL-1 Reporting tab in the worker records and making every single required change.
- Guaranteeing that you have made all necessary acclimations to representative paycheques for the finance schedule year.
- Checking your organization data in Sage 50 Accounting to ensure a business number, organization name, and address are entered.
- Ensuring every representative record has a SIN, first and last name, full location including their area of home. You ought to likewise verify whether you have entered a RPP/DPSP Registration Number, any annuity changes, QPIP, and Insurable Earnings changes.
- Ensuring the right T4 Employment Code is entered in the representative record. This is just relevant in these circumstances: (allude to your administration provided documentation for more data on finishing T4 slips for these workers)
- 11 – Placement office independently employed
- 12 – Driver of taxi or other traveler conveying vehicle
- 13 – Barber or stylist
- 14 – Withdrawal from recommended compensation deferral course of action plan
- 15 – Seasonal Agricultural Workers Program
- 16 – Detached representative government backed retirement understanding
- Audit the T4 Summary data.
Need any assistance or guidance in filing Sage 50 T4 our Sage 50 Experts available 24*7 to help you. Contact Sage 50 Experts Team to resolve your query.