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J
Janet H
January 5, 2022
Question

Add non-cash taxable to T4 after pay cheque already done for 2021

  • January 5, 2022
  • 1 reply
  • 0 views

Hi All,  After the 2021 yearend is completed, I receive data on non-cash taxable benefits for 2021.  How do I add these benefits to the employee's T4's as there are no more pay cheques for 2021?

1 reply

T
Trish_T
January 7, 2022

Hi Janet H,

 

Thanks for reaching out here.  QuickBooks offers a dynamic payroll module allowing you to pay your staff effortlessly.  I can see how your employee would benefit by having their T4 accurate.  I'd be happy to assist!

 

One of the benefits of QuickBooks Online Payroll is you can create a separate pay in cheque format and set the appropriate date in situations like this.  Here's how:

 

1. Select Payroll from the left menu and then Employees

2. From the ▼ dropdown beside Run payroll, choose Bonus only

3. Select As net pay or As gross pay and then Continue

4. Set the Date range and enter the Pay date

5. Click on DD in the Pay Method column and change it to Paper cheque

6. Enter the desired amounts and then Preview payroll

7. When ready, hit Submit payroll and then Finish payroll

You're all set!  The T4 will reflect the proper amounts.

 

If you have any other questions, please feel free to reach back out.  We'd be glad to help!

 

 

J
Janet HAuthor
January 7, 2022

Thank you for the quick response but this would be paying the employee a non-cash taxable benefit.  All I need to do is increase Box 14 and Box 26.  I do not receive these amounts till the next year so I can not include them into their last pay for 2021.  I do not want to pay the employee.  Is there somewhere I can test this out without using live data?

T
Trish_T
January 7, 2022

Hi Janet H.  With the steps I provided previously for creating a paper cheque, the benefit would be that you wouldn't need to provide the employee with the cheque, but the taxable benefit would be recorded.  However, we do offer an account specifically for customer's to navigate through processes without affecting their own books.  I'd be happy to show you how!

 

From the Gear in the top right of QuickBooks Online, select Sample Company or simply follow this link.  I hope this helps!

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