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Intuit

QuickBooks Payroll Year-end

Note: In response to the COVID-19 pandemic, we are currently working on the following updates:
  • Updating in-product T4s according to government requirements.
  • Adding the following information codes for reporting employment income and retroactive payments: 57, 58, 59, and 60.
  • Updating the Year-End Centre.

All of these updates will be implemented prior to tax season.

Learn how you can wrap up this year’s payroll and prepare for the next with QuickBooks Payroll.

January and February are important months for every business: whether it’s filing your taxes or sending out employee T4s there are several things you need to get done.

Review these important dates and tasks as you plan your year-end payroll work. Use the links below to get steps or more information on anything you're wondering about.

Important Dates
December 29th The last day to run payroll using direct deposit using QuickBooks Payroll.
December 31st The last day to run a manual pay cheque for 2020 in QuickBooks Payroll.
January 1st T4s and RL-1s are available in QuickBooks Payroll.
January 4th Electronic filing options available online with Canada Revenue Agency and Revenu Québec.
February 28th The deadline to export your T4 file from Quickbooks Payroll and submit T4s and RL-1s with the government. You also must provide your employees a copy for their own records, which they use to do their personal income tax. T4s and RL-1s can be sent directly to the employee's personal QuickBooks Workforce employee portal account. For guidance on this, see How to prepare Relevé-1 slips and How to prepare T4 slips.

Need more year end information? Click here.

In order for pay cheques to be deposited in your employees accounts in 2020, you will need to run your final payroll before December 29th, 2020 at 5:00 PM PST.

Run final payroll for 2020:

Review and update employee information

Review and update company information

Electronic filing options are available in QuickBooks Online Payroll:

File your employee’s T4 slips and your T4 Summary with Canada Revenue Agency.

This is the deadline to file T4s and RL-1s with the government and provide your employees a copy for their own records. This is also the last day you will be able to export your XML file from QP to submit. Your employees will use their copy of the T4 or Releve-1 to do their personal income tax:

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