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Use T5018 forms in QuickBooks Desktop

by Intuit Updated 3 months ago

The T5018 form is a record of what you paid a subcontractor for construction services during the previous fiscal year.

The T5018s and T5018 Summary need to be filed with the CRA on or before the date that is 6 months after the end of your fiscal year. You can also provide a copy of the T5018 slip to each subcontractor, but it is not mandatory. To create T5018s, you'll need the Accountant or Contractor version of QuickBooks Desktop.

If you're not sure which subcontractors should receive T5018 forms, consult your accountant or the CRA.

Verify that T5018 suppliers are set up correctly

To confirm that all your T5018 suppliers are properly set up, check the profile of each supplier you know should receive a T5018 form to see if it's set up properly.

You can turn an existing supplier into a T5018 supplier at any time:

  1. From the Suppliers menu, select Supplier Centre.
  2. Double-click the supplier you want to edit.
  3. From the Sales Tax Settings tab, select the Supplier is eligible for T5018 checkbox and enter the supplier's Business Number.
  4. Select OK.

Verify your T5018 transactions and create the T5018 Summary report

For the T5018 summary in QuickBooks Desktop to be accurate, you need to ensure that all the transactions for your T5018 suppliers have been entered properly. You can do so by reviewing the T5018 Summary report, which shows a summary of each subcontractor's T5018 total, including GST/HST, and where applicable, PST or QST.

  1. From the Reports menu, select Contractor Reports, then select T5018 Summary by Subcontractor.
  2. Check that the dates of the report cover the period you need.
  3. Examine the summary for each subcontractor.
  4. If you want to see a Detail report showing the transactions for a subcontractor, double-click the total amount for them. If you want to see an individual transaction for a subcontractor, double-click it in the Detail report.
  5. If a transaction for a subcontractor is missing, add it before you complete your T5018 forms.
  6. Close the report.

Review T5018s

  1. From the Suppliers menu, select Supplier Forms, then select Process T5018s.
  2. Make sure the correct year is selected.
  3. Select the suppliers whose T5018 slips you plan to review now, then select Review T5018.
  4. In the Supplier T5018 preview window, you'll need to select whether supplier is an Individual or a Corporation or Partnership.
    • If the supplier is an Individual, you'll need to enter their SIN number in the Review screen directly, as there is no SIN field in the Supplier profile.
    • If the supplier is a Corporation OR Partnership, you'll need to add the RP code of their Business Number. Verify the accuracy of the other displayed information.
  5. Select Next to approve the supplier's T5018 slip.
  6. Repeat Step 4 to review the T5018 slips for the other suppliers you marked.
  7. On the last T5018 slip, select OK.
  8. QuickBooks Desktop returns to the Process End of Year Forms window and confirms that you verified all supplier T5018s by placing a checkmark in the Reviewed column.

File T5018s with the CRA

If you are filing more than 50 T5018 slips, the CRA requires you to file electronically. You can file electronically directly through QuickBooks Desktop or on the CRA website.

Electronically file T5018s

To EFILE your T5018 forms from QuickBooks Desktop, you must have a Business Number and a Web Access Code. If you didn’t receive or have misplaced your Web Access Code or Business Number, contact the CRA to obtain or replace either of them.

Your Business Number must be entered in the Company Information window.

If this is your first time electronically filing tax slips with the CRA, enter 555555 in the Transmitter Number field. Once they've processed your return, the CRA will send you documentation including the unique EFILE transmitter number you'll use in the future.

EFILE your T5018 forms

  1. From the Process End of Year Forms window, select the suppliers you would like to EFILE slips for.
  2. After you've reviewed each slip, select EFILE.
  3. Fill in the EFILE window:
    • Enter your Transmitter Number in the Transmitter Number field.
    • If your company is a sole proprietorship or partnership, enter your and your partner's Social Insurance Numbers in the SIN fields.
  4. Select Send. QuickBooks Desktop compiles an .xml file containing your T5018 data. This file has the name _T5018Slips.xml and, by default, is stored in your QuickBooks Desktop directory until it is sent or you close QuickBooks Desktop, when it's deleted.
  5. QuickBooks Desktop opens the CRA website for you. You'll need to enter the path to the _T45018Slips.xml file, your Business Number, and your Web Access Code.

Note: At the present time, this feature doesn't include the ability to print T5018 slips. You can visit the the CRA website if you wish to print out these slips.

Manually file T5018s

  1. Print the T5018 Summary by Subcontractor report.
  2. Do one of the following:
    • Use the data in the report to complete the CRA's T5018 Summary of Contract Payments form. This form is available from the CRA's website. If you don't have Internet access, contact the CRA directly for this form.
    • Hand-write your company address on the printout from QuickBooks Desktop, then sign and date the bottom of the report.
  3. Use the data in the report to complete individual T5018 slips for your subcontractors and the CRA. If you have Internet access, these slips are available from the CRA's website. If you don't have Internet access, contact the CRA directly for the slips.
  4. Make copies of all the documentation for yourself.
  5. Make copies of the T5018 slips for each subcontractor. Although not mandatory, it ensures your records are up-to-date.

Print T5018s

At the present time, this feature doesn't include the ability to print T5018 slips. You can visit the the CRA website if you wish to print out these slips.

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