What is the best way to use QB Online to fill in T5018 forms?

Hi there, accounting99.

You can run the Transaction List by Vendor report. Since QB Online doesn't support T5018, you can use this report to fill out the T5018 form.

Here's how to pull up this form:

1. Go to the Reports tab.
2. Search for and select the Transaction List by Vendor.
3. Set the reporting period to the correct date.
4. Hit Run report.

Visit us again in the Community if you need anything else.

Unfortunately that list does not generate a TOTAL paid to the Vendor for the year and as such is not helpful in this instance. The CRA requires total amount paid to all subcontractors including GST.

Thanks for reaching back out, 

The Transaction List by Supplier report will generate all transactions linked to each supplier in your QuickBooks Online account. The totals displayed in the Amount column are inclusive of tax, and if you'd like to see the tax breakdown, you can customize your report by clicking the small Gear icon, click Show More, and check off the box next to "Tax Amount". You can also select "Net Amount" if you'd like to see the total before taxes. 

Although this report doesn't generate totals, it will present the information in a clear and concise way so that you're able to add up each transaction manually. Otherwise, you can run the Expenses By Supplier Summary to generate the totals. 

I hope this helps clear things up for you. Let me know if you have any other questions. 

Cheers.

The Transaction List by Supplier report will generate all transactions linked to each supplier in your QuickBooks Online account. The totals displayed in the Amount column are inclusive of tax, and if you'd like to see the tax breakdown, you can customize your report by clicking the small Gear icon, click Show More, and check off the box next to "Tax Amount". You can also select "Net Amount" if you'd like to see the total before taxes. 

This is useless as many of our subcontractors have 10-20 invoices and there are 50+ subcontractors...it would take too long to add all every line of sub total and tax up.

Otherwise, you can run the Expenses By Supplier Summary to generate the totals. 

This option doesn't create a total that includes GST...so still not a viable option.

There must be an easier way!!!

Is there some way for the QBO team update the program to make it so you can set up the suppliers like you can in desktop and then generate the T5018 report?  

I have more than 50 information slips to submit by "mandatory electronic filing" at the end of each year.  If you do not file the information returns by Internet File Transfer in eXtensible mark-up language (XML), you are liable to a penalty of up to $2,500.

I am extremely disappointed that QBO doesn't have the same ability that QBs Desktop had where I could run the T5018 report, verify the information for each contractor and electronically submit the report in an XML format to the CRA through QBs Desktop.  One of the reasons I switched to QBO was because I thought it would be a more up-to-date program that offered even more than QBs Desktop - I never imagined it would actually offer less and not fill my needs.  

How do you recommend I create an XML file that the CRA will accept?

Hi Kath28. Thanks for joining the thread.

I can appreciate that you'd like QuickBooks Online to have more of the same features that are available to you in QuickBooks Desktop. As mentioned by my colleagues above, this feedback has been sent off to our product development team for review. We're always looking for new ways to improve QuickBooks Online. 

In terms of creating your XML file, I'd recommend following the steps above to export your information to Excel. Once in Excel, you'll have to utilize a third-party conversion tool to generate your XML file for submission to the CRA. I did a quick search and found this resource that may help: Convert Excel document to XML file. 

If you have further questions, please reach out to our tech support team. 

Cheers.

I am trying to understand why the US version of QBO has an option to track vendors for 1099's  but he Canadian version doesn't have that option for T5018's.  Is there another way to set up the vendor to identify it as a subcontractor so that it will appear in the "Workers"?

Hi there, 

I can appreciate that creating a T5018 form is an essential part of many small businesses. I realize that our US counterparts may have different capabilities, however it's important that you're given the best advice in order to make the most of the Canadian version of QBO.

I want to make sure I'm fully understanding your question so that I can offer the best possible advice. What do you mean when you say you'd like to have your vendors appear in the "workers"? With a bit more information on your goal, I'd be happy to point you in the right direction.

I'll be on standby.