As a business owner, you may need to generate T4As for your contractors or other non-employees. T4As are used to report payments made to non-employees for services rendered. Here's what you need to know about T4As in QuickBooks Online.
What are T4As?
T4As are tax forms used to report payments made to non-employees for services rendered. They're similar to T4s, which are used to report payments made to employees.
Who should use T4As?
If you've made payments to non-employees for services rendered, you may need to generate T4As. This includes payments made to contractors, freelancers, and other non-employees.
How to generate T4As in QuickBooks Online
To generate a T4A for a supplier, they'll need to be tracked for a T4A. You can do that when you add the supplier, or later with an existing supplier Here's how:
Step 1: Set up a new supplier
- Go to Expenses and select Suppliers.
- Select New supplier.
- Enter all of the necessary supplier information. Make sure that the first and last name align with the legal or trade name used by the business.
- Browse to the Additional info section. Make sure to:
- Select Track for T4A.
- Select Supplier Type (Individual or Business).
- Enter the Business ID number or Social Insurance number.
- Select Save.
Step 2: Adjust an existing supplier
- Go to Expenses and select Suppliers.
- Select an existing supplier.
- Browse to Batch Actions and select Track for T4A.
- Select the supplier's name to open its profile and select Edit.
- Select Supplier Type (Individual or Business)
- Enter the Business ID number or Social Insurance number.
- Select Save.
Step 3: Troubleshooting issues
If you encounter any issues while generating T4As in QuickBooks Online, there are a few troubleshooting steps you can take. Here are some common issues and their solutions:
- Issue: The T4A won't print correctly.
Solution: Make sure that your printer is set up correctly and that you're using the correct paper size. Review this page for step-by-step instructions on printing T4As.
- Issue: The T4A amount is incorrect.
Solution: Double-check that you've entered the correct amount and that all deductions and taxes are being calculated accurately.
- Issue: You're having trouble filing the T4A with the CRA.
Solution: Make sure that you've filed the T4A by the deadline and that you've included all necessary information. Review this page for step-by-step instructions on EFILEing T4As.
By generating T4As in QuickBooks Online, you'll be able to make sure that your payments to non-employees are properly reported and that you're in compliance with CRA regulations.
If you encounter any issues while generating T4As, don't hesitate to reach out to our Support team for assistance, ask our Digital Assistant, or check the Support page for immediate answers.
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