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canadian_businessguy
February 15, 2023
Question

Submitting T4s for 2 different companies on the same Quickbooks account

  • February 15, 2023
  • 1 reply
  • 0 views

Hello

 

I had my Quickbooks account for numerous years.  Back in early 2022, we closed our old Partnership(Quickbooks is under Partnership name) and opened Corporation.

Employees or address of company remained the same.

I need to submit T4 under the old company name(Partnership) operating only in January 2022.  Then I need to submit another T4, now under the Corporation, for February-December 2022.  

 

Is it any way for me to do this through Quickbooks or do I need to hire an accountant?

 

Thank you for your time!

1 reply

T
Trish_T
February 15, 2023

Hi canadian_businessguy,

 

Welcome to Community!  It's important that you're able to access employee information and create the T4 slips as soon as possible in QuickBooks Online.  I'd be happy to provide more information so you can do this successfully!

 

When a QuickBooks Online account is cancelled, you'll have 'read only' access for one year from the cancellation date.  However, to access the information needed for payroll forms, you'll need to activate the previous Partnership account and proceed to re-subscribe to QuickBooks Online Payroll.  All employee information will remain intact, but you won't have access without an active payroll subscription.  The subscription fees are prorated, so you'll have access for one month.  However, once you have the required information, you can proceed to cancel the account.  I recommend exporting data, as you feel necessary, after activating the account, so you'll have it for future reference if needed.

 

Should you require additional assistance, please don't hesitate to contact us.  It would be our pleasure to work with you outside of Community and ensure you're able to complete your QuickBooks goals without further delay!

 

Schedule a Callback or start a Chat: click (?) Help in the upper right in QuickBooks Online > enter "Contact support" > hit Contact Us > provide a brief summary of your situation > hit Let's Talk > choose Get a callback or Start a Chat.
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Support hours are from Monday to Friday between 9 a.m. and 8 p.m. ET.

 

Feel free to reach out again with any other questions.  We're always glad to help!
 

 

C
canadian_businessguyAuthor
February 15, 2023

Hi Trish

 

I did not create a new account for the new Corporation and continued to use the old Partnership account.

What I need to do is to create T4 based on January 2022 only.

Then I need to change name on the account from Partnership to Corporation, and create another T4 based on February-December.

What would be the best way for me to get this completed?  Again, my current account has T4 information for the entire year under the same business name, not 2 different ones like I require.

 

Thank you

A
Alex M
February 15, 2023

Hi there canadian_businessguy,

 

I can provide some information about T4 forms within QuickBooks Online. Within the program, there isn't the option to divide up the year into two sections and run a T4 for each period. Only one T4 can be created for each employee for the year, so if you would need to generate T4 forms for two dis=tinc periods within the same year, they would need to be manually created outside of QuickBooks Online Payroll.

 

If you have any other questions, feel free to reach out here.

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