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Larabh
March 26, 2020
Question

Temporary Wage Subsidy for Employers - Ontario

  • March 26, 2020
  • 1 reply
  • 0 views

What entries are needed to record the new Temporary Wage Subsidy for Employers in Quickbooks Desktop for Ontario?

    1 reply

    L
    LauraAB
    March 26, 2020

    Hello Larabh,

     

    Knowing how to account for the temporary wage subsidy in QuickBooks Desktop's payroll system is an important part of balancing your books and ensuring your payments to the government are correct when it comes time to remit. Our goal at QuickBooks is to provide you with the necessary steps to work through this.

     

    As soon as the subsidy was announced, the QuickBooks payroll teams kicked into high gear to work out how our users could implement the subsidy in the system. We're working diligently to create a document explaining how you can navigate this situation in QuickBooks Desktop payroll.

     

    I assure you we know how important this is and we want to make sure we get the details right. For these sorts of situations, notices are sent out to our customers via email once a solution is available. Keep an eye out for it.

     

    Let me know if you have more questions in the meantime.

      C
      CJTC
      February 22, 2021

      Was this ever determined?  How is this subsidy supposed to be posted in QB Desktop?

      Rebecca R
      Rebecca R
      February 22, 2021

      Thanks for checking in on this @CJTC.

       

      I love that you're looking for the best way to calculate the Temporary Wage Subsidy using QuickBooks Desktop. Luckily, we have a comprehensive article that goes over all of the steps required to do this. I suggest you give it a read: Temporary Wage Subsidy for Employers - How to calculate and record subsidy in QuickBooks Desktop Canada. It'd also be worthwhile to check out the CRA's resource on the Temporary Wage Subsidy for Employers.

       

      I know you'll have this recorded in no time. Have a great day!

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