Canada Business End-of-Year Tax Statement (T4) generation.

[R. Victor Klassen]

I have not been able to figure out how to get GNUCash to tell me everything I need to know at the end of the year for the purpose of T4 slips.
We have more like 8 employees, and last year I used a spreadsheet to track everything from hours worked to EI withheld.  

I’m guessing you use the online deductions calculator.   To do so you need to record somewhere - even if only by printing the summary sheet it provides per employee - the year to date amounts.   At the end of the year you can copy them into the online T4 form.

It turns out there is no need to keep a separate liabilities account for EI and CPP (but there should be one for WSIB).   The government gives us no way of distinguishing them until T4 time.

On Apr 3, 2014, at 1:34 AM, Cam Ellison <cam at ellisonet.ca> wrote:

> On 02/04/14 10:09 PM, Damon Erickson wrote:
>> Just to be clear, this is the payroll split template I have created. The values here are totally made up and do not reflect actual Canadian taxes.  This transaction is entered into the checking account.
>> 
>> Gross Pay        Payroll Expenses    C$975.00
>> CPP Employer - Expense    Expenses:CPP        C$50.00
>> EI Employer - Expense    Expenses:EI        C$60.00
>> Provincial Tax Witheld    Liabilities:FedTax            C$32.00
>> Federal Tax Witheld    Liabilities:OntTax            C$27.00
>> CPP Witheld        Liabilities:CPP                C$38.00
>> EI Witheld        Liabilities:EI                C$53.00
>> CPP Employer        Liabilities:CPP                C$50.00
>> EI Employer        Liabilities:EI                C$60.00
>> Net Pay            Assets:Checking                C$825.00
>> 
>> 
>> I just don't understand how later I'm going to be able to distinguish which EI Employer transactions are for this particular employee unless I create a separate sub-account for this employee.
> You could put the employee's name in the Description field, and sort on that.  However, with only 2 employees, your best bet may be to create subaccounts for each employee.  Unless you have a serious turnover problem, this is unlikely to get too complicated.
> 
> I have a limited company, and at one time my then-wife was on the payroll, and briefly one of our children.  It was easiest to create subaccounts for each of us and sort according to Description.  It was necessary to collect IT and CPP, but of course not EI because we owned the company, so a little simpler than your situation.
> 
> Hope this helps some,
> 
> Cam
> 
> 
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