10% Wage Subsidy

Hey Donna101.

Getting the details right and having them show correctly in your books is important for all business owners. Entering the wage subsidy is a way to do just that. It's great that you're taking the time to make sure the wage subsidy is also reflecting properly. I can explain more on this and your T4 summary report in QuickBooks Desktop.

The T4 summary report shows the pay cheque details that are created when you run your payroll, including your tax information. When you make the adjustments to payroll liabilities, that doesn't affect the pay cheques you made, just what is owed in your liabilities account. That would mean your T4 summary would stay the same as the cheque doesn't change. The wage subsidy is a discount the government is giving back to employers to help alleviate the financial stress that is going on due to the current situation. As such it would not show on the T4 report which is strictly for pay cheque information.

Our developers are always looking to hear feedback from what businesses are looking for. If you want to have a report that shows that information, you can submit ideas online by going to Help>Send Feedback Online>Product Suggestions.

Hope I was able to shed some light on your question.