I use standard payroll for one of my clients. Due to the current COVID situation, he has temporarily shut down his business and terminated most of his staff. He does not want a salary to be paid until the situation improves. If I temporarily turn off his payroll option will I lose the information for the existing and terminated staff when T4s are issued in 2021? Thanks
Thank for reaching out to the Community. I know how times like these can be challenging for businesses and I'll be happy to give you a hand.
If you suspend the payroll, the information will still remain in the program as long as your normal subscription is still active. So when the time comes to file T4s, you can always proceed with reactivating the payroll. The major caveat for suspending payroll is that you won't be able to run it. Before deciding on suspending the payroll, I encourage you to check out some helpful resources below:
Learn about Intuit QuickBooks Coronavirus resources including Paycheque Protection Program loan and the Small Business Relief Initiative to help small businesses raise money to overcome the challenges caused by COVID-19.