Hi everyone, I have a question regarding the Temporary Wage Subsidy 10%. My situation is I don't use the Payroll module for one employee, I use the General journal entry. So, I also use the General journal when I remit the payroll remittance due on the 15th of the following month. How do I do this now when I reduce income tax by the 10%? I currently use this entry:
Bank 1000.00 credit example
Receiver General CPP 500.00 debit
Receiver General Income Tax 500.00 debit This is what my entry looks like normally.
However, if I deduct the 10% to CRA to remit, what I pay to CRA from the bank won't be balanced?
Can I add the entry for the 10% in this entry as well and how would I treat the entry?
Or do I need to create another journal entry:
Receiver General Income Tax xxx.xx debit
Other Income -Temporary Wage Subsidy xxx.xx credit
Help! TIA
