Generate T4 Slips and a T4 Summary (End-Of-Year Payroll Tasks for Canada)

Businesses in Canada are required by law to submit certain wage and tax reports to federal agencies after the final payroll has been processed for a tax year.

ProContractor includes support for the following forms:
  • T4 Statement of Remuneration Paid – The T4 slip lists the total amount of federal, provincial, and local wages earned by an employee and total amount of taxes withheld for that employee. You are required to create a T4 slip for every person that you employed during the tax year.
    Note: T4 slips must be given or mailed to all employees by the last day of February. T4 slips must be submitted to the Canada Revenue Agency by the last day of February.
  • T4 Summary of Remuneration Paid – The T4 Summary serves as a cover sheet when you submit paper copies of T4 slips to the Canada Revenue Agency. It includes the number of T4 slips being submitted as well as the total amounts reported on the forms. If you file T4 slips on paper, you must file your T4 Summary with the T4 slips by the last day of February.

Note: The current version of ProContractor does not support printing of T4 Summary. However, you can print a report that contains the information you need to manually complete the form.

To perform end-of-year payroll tasks, complete the following steps.

  1. Optional: On the Print Forms T4 Summary Report screen, determine the number of T4 slips that you will need for your year-end activities.
  2. Optional: Contact the Canada Revenue Agency to order your T4 slips.
  3. Ensure that your payroll is complete for the year that just ended (that is, you have printed, posted, and distributed all checks).
  4. Optional: If you want to verify the accuracy of the information on your T4 slips, review each T4 slip on-screen and make changes, as needed.
    There are a few reasons that you might want to review this information, including:
    • You don't have complete payroll data entered for the tax year because it was your first year using ProContractor and you didn't load initial balances.
    • You haven't set up all of the needed payroll fringes and deductions in ProContractor.
    • Some of the data is based on the Employee record from the last payroll you ran for that employee in the tax year, so it's possible some of the information could be incorrect.
  5. If you want to prevent payroll checks from being posted or voided in the year that just ended (or any prior year) before you have prepared your year-end forms, close the last quarter of the year on the Payroll Settings screen.
  6. Print a T4 slip for each employee.
  7. Optional: Generate an XML file for T4 slips to submit electronically.
  8. If you are filing T4 slips on paper, generate a Forms T4 Summary Report.
  9. Optional: Use the information from the Forms T4 Summary Report to manually complete your T4 Summary.