Complete Guide : Year End Discrepancy in T4 Summary and Remittance Report

YEAR END DISCREPANCY IN T4 SUMMARY AND REMITTANCE REPORT

T4 Summary line instructions The 15-digit Business Number that is placed on the distinguishing proof page will be moved to the T4 Summary as well as the working or exchanging name and the business' location.

DT FormMax consequently ascertains the aggregate sums to be accounted for in boxes 14, 16, 18, 19, 20, 22, 27, 52, 80 and 88 from the T4 slips. A manual info is expected for the settlements in box 82. For Canadian-controlled private companies or unincorporated bosses, the SIN of the proprietor(s) or head owner(s) should be placed in boxes 74 and 75.

Update: • The T4 data return should be documented no later than the last day of February of the accompanying schedule year.

Year • The year finishing will be that of the schedule year for which the business is documenting the return.

Line 14 - Employment pay Complete of box 14 from all T4 slips.

Line 16 - Employee's CPP commitments Complete of box 16 from all T4 slips.

Line 18 - Employee's EI expenses All out of box 18 from all T4 slips.

Line 19 - Employer's EI charges • Boss' portion of EI expenses (the representatives' all out charges increased by the business' top notch rate).

Line 20 - Registered annuity plan (RPP) commitments • Absolute of box 20 from all T4 slips.

Line 22 - Income charge deducted • Complete of box 22 from all T4 slips.

Line 27 - Employer's CPP commitments • Manager's portion of CPP commitments.

• Add Another Company to Sage 50 quantum Accounting

Line 52 - Pension change • Complete of box 52 from all T4 slips.

Lines 74 and 75 - Canadian-controlled private enterprises or unincorporated businesses • The social protection quantities of any owners or head proprietors.

Lines 76 and 78 - Person to contact about this return • The name and phone number of a contact individual that can be called to get or explain data provided details regarding the T4 Summary.

Line 80 - Total derivations revealed • Absolute of the sums investigated lines 16, 27, 18, 19, and 22 of the rundown.

Using Sage 50 Payroll and doing some calendar year end clean up before print T4s. When I checked the T4 summary it is showing an owing balance for source deductions, but my remittance report is balanced, and will zero out when I do the remittance for Dec.2021.

Year End Discrepancy in T4 Summary and Remittance Report