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chantale-molsont
Level 1

Will the 10% wage subsidy amount show on the PD7A and give me a before and after figure?

 
2 Comments 2
LeithG
Level 7

Will the 10% wage subsidy amount show on the PD7A and give me a before and after figure?

Hi chantale-molsont

 

The PD7A is just a "statement of account" document from the government, based on self-reported figures.  Given we don't tell them if we've taken the 10% benefit or not in our reporting, I doubt it will show up there.

https://www.canada.ca/en/revenue-agency/services/about-canada-revenue-agency-cra/understanding-notic...

PatriciaT
QuickBooks Team

Will the 10% wage subsidy amount show on the PD7A and give me a before and after figure?

Hi chantale-molsont,

 

Thanks for joining us! I'm glad to hear you're eligible for the 10% wage subsidy to assist you in reducing your payroll deductions to be remitted to the CRA. I know how important it is to know how this subsidy can be reflected in your account and how this will affect your reports. I'll be happy to share more on this.

 

Recording your subsidy in QuickBooks Online is a fairly straightforward process. To learn more on how it's done in Standard Payroll, here's a useful article: Temporary Wage Subsidy for Employers (10%)

 

It's important to note that the tax account adjustments are not what provides the numbers to the PD7A. These numbers are pulled from the payroll database for the reporting period. In other words, the PD7A does not change unless paycheques are added or removed from the system. So historical payments that are adjusting the payment due will not be seen to affect the PD7A amount owing.

 

I hope this clarifies things for you. For any further assistance, feel free to reach out to our tech support team. Here's how to get in touch.

 

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