Tax Form Options 2017

Transcription

1 Tax Form Options 2017

2 Table of Contents 2 Important Information for All Clients 2 Overview & Purpose of this Manual 3 Tax Form Option Features & Checklist 4 PIER Report 5 What is the PIER Report? 5 T4- Before Using the Edit T4 Screen 6 The T4 Slip 6 Using the Edit T4 Section 9 The T4A Slip 10 Editing the T4A Slip 12 The Releve 1 (RL-1) Slip 13 Editing the RL-1 Slip 14 The T5018 Slip 15 Tax Form Options Reports (Group YEAUDIT) 16 Create ALL Tax Forms 19 How to Approve Your Tax Forms 22 Flexible Tax Form Options

3 Important Information for All Clients Warning: Adjustments that Affect Year End PAYweb is not responsible for the following remittances for payrolls closed after December 31st of the current taxation year or year end adjustments (adjustments made to the T4 file) even if PAYweb remits on your behalf. Tax, CPP, EI WCB/WSIB EHT (Ontario clients) RQ remittances and CSST for Quebec clients You must submit any amounts owing to the appropriate government agency (for eample Canada Revenue Agency) prior to their due date. Overview & Purpose of this Manual The purpose of this manual is to show you how to use PAYweb to modify and approve your tax forms (T4/T4A/T5018/RL-1). The Tax Form Options screen allows you to update or maintain the T4/T4A/T5018/RL-1 print files before the Tax Forms are approved. You can approve your Tax Forms from the Year End Progress Bar located on the Main Menu. If, upon completion of the Year End Reset, you discover that no adjustments or employee changes are necessary, approve your Tax Form Authorization. Some of the maintenance actions you may carry out as part of approving your tax forms could be: - Adjust Taxable benefits - Pension adjustments - Update for Manual Cheques issued by you not processed throughout the year Note: You are responsible for the remittance of the Government monies due to these changes/corrections. PAYweb does not remit any monies that are associated with amounts edited on the Tax Forms. 2

4 Tax Form Option Features & Check List 3

5 PIER Report The PIER Report was automatically generated when you selected to run your Year End Reset. This report is found in Group: YREND. You may choose View Reports instead of selecting this report. This option is only required if you have made modifications to the T4 Print Files using the Edit T4 feature. When your report is completed, you can view and/or print the report. This report will be listed as PIER under Group: YEAUDIT. After making changes to the T4 file, it is recommended that this report be generated. 4

6 What is the PIER? PIER stands for Pensionable and Insurable Earnings Review. Canada Revenue Agency and Revenu Quebec complete a PIER after you have filed your T4/RL1 slips. This is to verify that you have remitted the correct amount of C/QPP, EI and QPIP deductions compared to the Pensionable (T4 Box 26 and RL1 Box B) Earnings, Insurance (T4 Box 24 and RL1 Box C) Earnings and QPIP (T4 Box 55 and RL1 Box I) Earnings Reported on the T4/RL1 slip. If you have any deficiencies, CRA/RQ will mail a PIER listing to you. To assist you in understanding the PIER EI/CPP/Year End Audit we have provided the PIER Report Guide in the Year End section of the Manuals screen. The PIER Report Guide will assist you in: Common Errors Explain the Types of Discrepancies How to investigate discrepancies Warning: Please note that if you started with PAYweb.ca within this T4 year, the PIER Report may not be accurate if the employees actual work weeks were not provided to PAYweb when the Year-to-Dates (YTD) were loaded into the payroll system. T4 - Before Using the Edit T4 screen Helpful Government Sites For detailed documentation on what each T4 box means, please refer to the CRA document found at its web site: down on this page to the RC4120. CRA website: T4 Boxes and Explanations At the following link you can download a sample of the T4 and T4 Box explanations from the CRA website T4 Statement of Remuneration Paid (Slip): 5

7 The T4 Slip Note: On the CRA T4 slip, there are no pre-specified boxes for Retiring Allowances (Codes 66-69), filers are expected when filling in the CRA slip to use the Other Information boxes for this item. However, on the PAYweb.ca Edit T4 screen, you do not have to insert the codes for Retiring Allowances since the screen includes pre-specified boxes for this item. Note: The system has automatically allocated the eligible and non-eligible retiring allowance amounts for the employee based on the employee s Seniority Date when the Year End Reset was completed. Using the Edit T4 screen Select the Edit T4 option to edit the T4 information for your employees. When the Edit T4 option is selected, the screen displays employees in alphabetical order and then by province and EI code. Note: The Prov field refers to the employee s Province of Employment, not residence. To select an Employee: Type the employee number in its field and tab to the E.I. Code field. Tab to the Employment Prov field. Select the Employment Prov and press Enter. The system will open that employee s T4 for editing. You can use the Position to: field to find an employee you want to edit. Click on any part of the row that the employee s name is listed on to open their T4 edit screen. Selecting Multiple Employees: Click in the check box next to any of the employees listed on the current screen and click Enter. The system will take you to the Edit screen of the first employee selected. You can then use the Next Employee button to go directly to the Edit screen of the next selected employee. 6

8 Definition of Fields on the first screen: Editing the T4 Slip Once you have selected an employee, the T4 Print File Maintenance screen on the next page will appear. On this screen, you are able to change information such as name and address information, S.I.N. for the employee selected. Values for all boxes may be edited. To replace or adjust an amount for a numbered box, key an amount in the amount box to the right of the box number. In the A/R box, choose either Adjust or Replace to make changes to the box. Tip: Adjust (A) takes the value already shown and increases or decreases it by the amount you enter in the Amount box. To decrease the amount in a box, enter the amount you want to decrease by as a negative and choose Adjust. If you need to blank out an amount for a specific box, leave the amount blank and choose Replace to replace the amount. Warning: If you leave the screen without clicking Enter, you will have to redo any changes that were made. 7

9 Other Information Boxes on the Edit Screen There are six Other Information Boxes, allowing you to modify amounts for codes ( Taxable allowances and benefits, deductible amounts, employment commissions and other entries ). The Box fields correspond to the boxes on the actual T4 form. To make it easier to use this screen, you may want to have a blank T4 in front of you. Descriptions for all of the boxes are provided above in the section CRA website: T4 Boxes and Explanations. Important: If you change any boxes that would apply to Box 14, you must change the amount in Box 14 to reflect this. The prompt for the Other Information Boxes will tell you which codes require you to do this. Click on the magnifying glass icon shown next to each of the six Other Information Boxes, as shown below. This opens a prompt window to help you select the following: Taxable Allowances and Benefits Deductible Amounts Employment Commissions Other entries amounts, if applicable 8

10 To remove Other Information Box and the amount it contains: Click on the magnifying glass and select Code 00. Tab to the A/R field and select Replace Click or press Enter Once all the required fields have been completed for the employee Click Enter to apply the changes Then click Next Employee to modify another employee if you selected multiple employees on the previous screen. Once the changes are completed and saved for all employees, click Exit, then select the View Reports screen and all the Tax Form Audits are in GROUP: YEAUDIT. The T4A slip The T4A slip is the Statement of Pension, Retirement, Annuity, and Other Income. It is typically used to report payments or income in situations where there is no employment relationship. When Do I issue a T4A? A T4A must be issued if you paid any of the following types of income and you paid the Recipient more than $500 in the calendar year or you deducted income tax from any payment: - pension or superannuation - lump-sum payments - self-employed commissions - annuities - retiring allowances - patronage allocations - RESP accumulated income payments - RESP educational assistance payments; - fees or other amounts for services; or - other income such as research grants, certain payments under a wage-loss replacement plan, death benefits, and certain benefits paid to partnerships or shareholders. Exceptions You must also prepare a T4A in the following situations: If you provide employer-paid Group Term Life Insurance Taxable Benefits for former employees, including retirees, you must prepare a T4A slip, even if the benefit is less than $

11 If you are the administrator or trustee of a multi-employer plan and you provide taxable benefits under the plan to employees or former employees. You must prepare a T4A slip only if the benefit exceeds $ You must issue T4A slips for fees and services payments if you withheld income tax, regardless of the amount withheld. The recipients will then claim the income tax deducted on their income tax returns. Note: This is a summary of the CRA rules, and has been provided for your convenience only. To read the rules in their original form please visit the CRA website: Reallocate Amounts in Box 28 If an employee has T4A in the Tax Form Option field in their Employee Profile, the PAYweb system will automatically generate a T4A slip and insert their Gross Earnings into Box (Case) 28. You must use the Edit T4A option and move any amounts from Box 28 that can be reallocated to their appropriate Box numbers, leaving only Other Income not reportable elsewhere. Editing the T4A Tip: To make it easier to use the Edit T4A screen,, you may want to have a blank form in from of you. This can be found at: Tip: For detailed documentation on what each T4A box means, please refer to chapter 4 of the CRA document found at its web site: Tip: You can see a sample of the T4A and Box explanations from the CRA website: 10

12 To edit the T4As, select the Edit T4A option. When the Edit T4A option is selected, employees are displayed alphabetically by EI code. To select an employee, type the employee number in the field and tab to the E.I. Code field. Type the E.I. Code and press Enter. The system will open that employee s T4A for editing then you can use the Position to: field to find an employee you want to edit. Click on any part of the employee s name to open their T4A edit screen. To select multiple employees, click in the check box next to any or all of the employees listed on the current screen. The system will take you to the Edit screen of the first employee selected. You can then use the Next Employee button to go to the next employee. Once you have selected an employee, the T4A Print File Maintenance screen will appear. On this screen, you can change information such as; name and address information, S.I.N. or the amount boxes for the employee. The amounts for each box are displayed to the right of the box numbers. All the amount fields may be replaced or adjusted. 11

13 To modify an amount for a specific box, key an amount in the edit field to the right of the box, then in the A/R box, select either Adjust or Replace to replace the amount. To input an amount that subtracts from the existing amount, insert a negative number and select Adjust in the A/R box. If you wish to remove an amount for a specific box, leave the amount blank and select Replace to replace the amount. The information that is being adjusted or replaced will be updated when you click enter. To remove the Other Information Box and the amount it contains, click on the magnifying glass and select Code 00. Then tab to the A/R field and select Replace. Note: If you leave the screen without clicking Enter, you will have to redo any changes that were made. The Relevé 1 (RL-1) Slip When do I issue an RL-1 slip? RL-1 slips are required if you have employees in the province of Quebec. An RL 1 slip must be issued for any dollar amount (including Taxable Benefits) provided to an individual or an employee, regardless of whether or not source deductions were made. Helpful Government Sites: RL-1 Boxes and Explanations This summary explanation of RL-1 slip-boxes in English (the form itself must be filled out in French) can be found at: RL-1 slip sample This example of the RL-1 slip is provided in French only (the form itself must be filled out in French) and can be found at: All forms and guides Information in English can be found on all RL forms on the RQ website at: en/sepf/formulaires 12

14 Editing the RL-1 Slip Select the Edit RL-1 option to edit the tax forms. When the Edit RL-1 option is selected, the employees are displayed in alphabetical order. To select an employee, type the Employee Number, and tab to the E.I. Code field and type the E.I. Code. The system will open that employee s RL-1 for editing. You can use the Position to: field to find an employee you want to edit. 4 Use the check box next to the employees' name to select multiple employees. The system will take you to the Edit screen of the first employee selected. Once you have selected an employee, the Edit RL-1 Employee Details screen on the following page will appear. You are to use these boxes to enter the additional information associated with any of the boxes in the upper portion of the RL-1 slip, as indicated in the example below. 13

15 On this screen, you are able to change information such as name and address information, SIN or the amount boxes for the employee selected. All of the amount boxes can be changed if applicable. To replace an amount for a specific box, key in the new amount, click enter to Save. If you would like to delete an amount for a specific box, simply highlight the amount and press delete, then Enter to save. The T5018 Slip When do I issue a T5018 slip? If you are an individual, partnership, trust, or corporation involved in construction activities which provide your primary source of business income and you make payments to subcontractors for construction services, you must report amounts paid or credited. Helpful Government Sites: For CRA information on what each box means please refer to the CRA documents found at its web site: For T5018 slip and explanations: Using the T5018 Edit Screen When the Edit T5018 option is selected, the employees are displayed alphabetically. Once you have selected an employee, the following screen is displayed. 14

16 On this screen, you are able to change information such as; name and address information, S.I.N./Business Number or Box 22 for the employee. The Box 22 amount can be replaced or adjusted, but must always be greater than zero. To replace the amount, key in the new amount in the A/R box and enter either A to adjust or R to replace the amount. Tax Options Reports (GROUP YEAUDIT) 15

17 Create ALL Tax Form Audits Tax Form Audit Reports are automatically generated when you selected to run your Year End Reset. These original reports are found in GROUP: YREND. When you select the Create ALL Tax Form Audits option all of the audits are found in GROUP: YEAUDIT. Each of the edit options found on the Tax Form Options screen automatically Create ALL of the Tax Form Audits. All of the reports found in GROUP: YEAUDIT are available for viewing until the Year End Progress Bar is initiated the following year. These reports are never archived. What Should I Do With the T4AUDIT Report? This report lists the employees in alphabetical order and gives final totals of T4s by box number. You must ensure that the totals are correct and that everything balances to your final pay reports of the taxation year, plus any adjustments you may have done using the Edit T4 feature. Below is a sample of the T4 Audit Report. Note: Pre-Specified Boxes on the T4 Edit screen will always display, whether they contain a value or not. Other Information Boxes will only display if they contain a value. Exception: While Boxes 66 through 69 are pre-specified on the T4 Edit screen, they will only display on the T4 Audit report if they contain a value. 16

18 What Should I Do With the T4ERRORS Report? You will see the T4ERRORS report only if the system detected errors. You must correct any errors on this report prior to approving your T4s. Use the Edit T4 option to do this. If you have attempted to resolve all of the errors, and are not able to get the information, you may continue. You may leave the SIN number blank, but you should be able to show that you made a reasonable effort to get the SIN from the recipient. After you have corrected all errors, the Tax Form Audit Reports are generated automatically and you should no longer see the T4ERRORS report under GROUP: YEAUDIT. Possible error messages include: - Blank Employee First Name - Blank Address/ Blank Postal Code - Blank SIN/INVALID SIN - No RPP Number - If Box 20 or 50 has an amount in it, the RPP number is required. - Negative Amounts If any of the boxes have a negative amount, it must be corrected. 17

19 What Should I Do With the T4AAUDIT Report? This report will list the employees in alphabetical order and give final totals of T4As by box number. If no T4As are detected, you will not get this report. You must ensure that the totals are correct and that everything balances to your final pay reports of the taxation year, plus any adjustments you may have done using the Edit T4A feature. Below is a sample of the T4A Audit Report. 15 What Should I Do With the T4AERROR Report? You will get this report, only if the system detected errors when the T4A Audit report was generated. You must correct any errors on this report prior to printing the T4As. Use the Edit T4A option to do this. If you have attempted to resolve all of the errors and are not able to get the information you may continue. You may leave the SIN number blank but you should be able to show that you made a reasonable effort to get the SIN number from the recipient. After you have corrected all errors, the Tax Form Audit Reports are generated automatically and you should no longer see the T4AERRORS report under GROUP: YEAUDIT Possible error messages include: - Blank Address - Blank Postal Code - Blank SIN or Business Number (BN) What Should I Do With the REL1AUD Report? This Report and the REL1ERRS Report only appears if you have Province of Quebec Employees. The RL-1 Audit report will list the department and final totals of any RL-1s by box number. If no RL-1s are detected, you will not get this report. This report will list the RL-1 box details by Business Number, then by Employee name (alpha) with totals by Business Number. Ensure that the totals are correct and that everything balances. 18

20 What Should I Do With the REL1ERRS Report? You will only get this report if errors were detected. Correct all errors on this report before printing the RL-1 slips. If RL-1 adjustments are required, please select the Edit RL-1 option. If you have attempted to resolve all of the errors, and are not able to get the information, you may continue. You may leave the SIN/BN number blank but you should be able to show that you made a reasonable effort to get the SIN/BN number from the recipient. After you have corrected all errors, the Tax Form Audit Reports are generated automatically and you should no longer see the REL1ERRS report under GROUP: YEAUDIT. What Should I Do With the T5018AUD Report? The T5018 Audit Report will list the final totals of any T5018s by box number. If no T5018s are detected, you will not get this report. This report will list the T5018 box details by Employee name (alpha) and includes the information in each of the three boxes: Period Ending (box 20), Amount (box 22), and SIN/Business Number (box 24). Ensure that the totals are correct and that everything balances. Correct all errors on this report before printing the T5018 slips. If T5018 adjustments are required, please select the Edit T5018 option. If you have attempted to resolve all of the errors, and are not able to get the information, you may continue. You may leave the SIN number/ Business Number blank but you should be able to show that you made a reasonable effort to get the SIN Number/Business Number from the recipient. After you have corrected all errors, the Tax Form Audit Reports are generated automatically. Review the T5018AUD report to make certain that all errors have been fixed. How to Approve your Tax Forms From the Process Payroll menu, click Review/Edit & Authorize Tax Forms on the Year End Progress Bar. 19

21 This takes you to the Tax Forms Options screen. After using the options on the left hand side to review and edit each of your Tax Forms click on the red bubble to continue with approval. This will bring you into the Authorize Tax Forms menu. Summary screen The Summary screen tells you the Status of the Tax Form Authorization, giving you the Business Number and Number of Slips for each type of form. Review each Business Number and verify the number of slips is correct. 20

22 Filing Information screen You must review and confirm the information on this screen in order to approve your Tax Forms. When you click on the Filing Information button you have two options. It is recommended to select PAYweb Files Electronically for the filing method. This way, PAYweb will remit all tax form information via magnetic media to the Canada Revenue Agency and Revenu Quebec. Alternately, if you select NEBS Prints - Client Files, then you will be responsible for remitting this information to Canada Revenue Agency and Revenu Quebec. Shipping Information screen If you would like your slips to be delivered to an address other than your Legal Address, you may enter it here. Please note that the Courier CANNOT ship to a PO Box, only a street address may be entered. You must review this screen in order to approve your Tax Forms. Approve After you have reviewed and edited (if necessary) the Filing Information and Shipping Information, you can click on the Approve button on the menu to your left. 21

23 Flexible Tax Form Options - How you will receive your tax forms You now have three options to choose how you would like to receive your Tax Forms (Employee and Employer copies). Certain options are subject to additional charges. The options are as follows: 1.Paperless - Employee Tax Forms are delivered electronically to employees who are set up that way (have the Tax Form Consent signal in their profile). Alternately, employee Tax Forms can be printed by the employer directly from your PAYweb account. Employer copies of the tax forms are available in the View Reports section of your PAYweb account as a single ZIP file. Only the base run fee and per Tax Form fee(same as payroll processing fee) will be charged. 2.PAYweb Prints Employee Copies - Employee Tax Forms are delivered electronically to employees who are set up that way (have the Tax Form Consent signal in their profile). Alternately, employees who are not set up for electronic delivery will receive a self-enclosed, pressure sealed printed form that is produced at the PAYweb office and couriered to your location. Employer copies of the Tax Forms and Summaries (Excluding RL-1 Summary) are available in the View Reports section of your PAYweb account as a single ZIP file. Base run fee and per employee processing fee per tax form apply. A 50 cent surcharge per selfenclosed tax form and tax form Handling Fee of $20 (Handling Fee includes the shipping charges are also charged. 3.PAYweb Prints All Documents - Employee Tax Forms are delivered electronically to employees who are set up that way(have the Tax Form Consent signal in their profile). Alternately, employees who are not set up for electronic delivery will receive a self-enclosed, pressure sealed printed form that is produced at the PAYweb office and couriered to your location. Employer copies of the Tax Forms and Summaries (Excluding RL-1 Summary) will be printed by PAYweb and shipped to your office. These PDF copies will also be available in the View Reports section of your PAYweb account. Base run fee and per employee processing fees per tax form apply. A 50 cent surcharge per self-enclosed tax form, a tax form handling fee of $20, and reporting fee of $20 for printed employer copies are also charged. 22

24 To Make your Selection: Once you have completed the 4 tabs (Summary, Filing, Shipping and Approve), you will then be presented with the screen below to make your selection. Simply click on the appropriate button to choose your package. You will receive a message verifying your choice. At that point you may continue and exit from the Tax Form Options menu. You will now see the following screen and your process bar will be green. 23

25 Be sure to click on the link that says "Next Steps for Tax Forms" to determine what, if any, steps you may need to take after approving your tax forms. If you have chosen to print your own employee tax forms or to view the PDF employee and employer copies and copies of the Employer Summaries, click View Reports then select the Download Tax Form button on the left hand menu. From this menu you can choose to download all Tax Form files as a ZIP file to your computer. You can also review at the employee level by clicking on the tax form type (T4, T4A, RL1 or T5018) for the desired year. You will see the tax form by employee. Click on the employee to open a PDF copy of their tax form. 24