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BeanCounter5
January 13, 2022
Question

2021 Employer T4's - Boxes 57 through 60

  • January 13, 2022
  • 1 reply
  • 0 views

I was about to start issuing our employees T4's for last year (2021) and am wondering what is going on the boxes 57 through 60 this year. Are the T4's working properly? When I click on Process T4's a message from QuickBooks pops up saying "We've updated QuickBooks calculated amount for boxes 57 through 60 in T4 forms". Is this an old message for last years T4's (2020)? The dates on the boxes don't seem to be correct as they are the same periods as 2020. I am really hoping to avoid the frustration of last years QB's T4 issues.

1 reply

M
Mark_R
January 14, 2022

Your confusion ends here, @BeanCounter5.

 

Allow me to fill you in on everything you need to know about how information is reported to the COVID-related boxes 57, 58, 59, and 60 of the T4 slip.

 

The possible reason why the boxes show incorrect information is that your QuickBooks Desktop isn't able to autofill the new T4 COVID -related boxes. You'll want to make sure you're using the most recent version of QBDT. This way, QuickBooks will be able to autofill the correct information on your T4 COVID -related boxes. Here's how:

 

  1. Go to the Help menu, then select Update QuickBooks Desktop.
  2. Select the Update Now tab.
  3. Click the Reset Update checkbox to clear all previous update downloads.
  4. Select Get Updates to start the download.
  5. When the download finishes, restart QuickBooks.

 

Once done, let's verify the version of your QuickBooks Desktop by pressing F2 on your keyboard. The build number should be changed from R4_35 to R4_51. 

 

If it's still showing incorrect information, you'll need to edit the COVID-related boxes 57, 58, 59, and 60 on the T4 slip. To do so, you can check out this article for the detailed steps: How to edit COVID-related boxes on the T4 slip.

 

Just in case you want to learn more about T4s/RL-1s, feel free to read this article: T4 and Relevé-1 forms. This will help you process, email, e-file, and amend T4s/RL-1s in QuickBooks Desktop.

 

Please know that I'm just a reply away if you need any further assistance issuing T4s. Wishing you all the best, @BeanCounter5.

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BeanCounter5Author
January 14, 2022

Thank you for your response. I am working on T4's for 2021 not for 2020. I dealt with the issue of QB not calculating boxes 57-60 correctly when I did 2020 T4's and had to manually fill them myself.  I am using QuickBooks Enterprise and my current release is R7_13. We have the updates on automatically and check often to make sure we have the latest version.

 

I have read through what the CRA has on their website for the filing of T4's and this is what is says,

 

"Codes 57 to 60
For the 2020 tax year only, additional reporting
requirements will apply to all employers, and will help the
CRA validate payments under the Canada Emergency
Wage Subsidy (CEWS), the Canada Emergency Response
Benefit (CERB), and the Canada Emergency Student Benefit"

 

So the reason I was confused is because of the message that pops up when I begin to review T4's for 2021.  I guess I will just assume it is an old message that does not apply to 2021 T4's. I am also wondering if boxes 57-60 will remain on the T4 even though they are not required? I don't want to go to all the work to fill out these T4's only to find out QB hasn't adjusted/updated them for 2021 yet. 

 

Thank you

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