Difference between revisions of "Accounting Finance:T5 Slips"

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=T5 Slips=
  
=T5 Slips=
   
  +
The software to produce T5 slips is TaxCycle (Xero) and this software has to be purchased every year.
⚫
==T5 Slip Preparation==
  
  +
  +
Notify IT to purchase software (around November), and submit before deadline (around February).
  +
  +
[https://www.taxcycle.com/ TaxCycle website]
  +
  ⚫
==T5 Slips Preparation==
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  +
To begin, open the T5 software icon.
  +
  +
[[File:T5 Slips Open T5.png|500px]]
  +
  +
 
Prepare an Excel import file using the template from TaxCycle.
  
Prepare an Excel import file using the template from TaxCycle.
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* The template can be retrieved clicking on the Create Excel template function (See screenshot below).
 +
* The template can be retrieved clicking on the '''Create Excel''' template function.
   
−
[[File:T5 Slips Create template.png|250px]]
 +
[[File:T5 Slips Create template.png|500px]]
   
 
* Retrieve worksheet from manager and prepare the data to template for import.
  
* Retrieve worksheet from manager and prepare the data to template for import.
   
 
[[File:T5 Slips Template worksheet.png|600px]]
  
[[File:T5 Slips Template worksheet.png|600px]]
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  +
   
 
Categories that are used to prepare T5 slip:
  
Categories that are used to prepare T5 slip:
Line 30: Line 44:
   
   
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Click on 'Excel import' when ready.
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Click on '''Excel import''' when ready.
   
 
[[File:T5 Slips Excel import.png|500px]]
  
[[File:T5 Slips Excel import.png|500px]]
   
⚫
==T5 Slip Review==
  
   
  +
To view previous templates, the files are saved on the TaxCycle directory {{unc|\\superserver.unipharm.local\Accounting\TaxCycle\|\\superserver.unipharm.local\Accounting\TaxCycle\}}
⚫
Review the information (eg. addresses) and amounts on the T5 slips are correct.
  
  +
  ⚫
==T5 Slips Review==
  +
  ⚫
Review the information (eg. business name, addresses) and amounts on the T5 slips are correct.
  +
 
[[File:T5 Slips T5 Sample.png|500px]]
  
[[File:T5 Slips T5 Sample.png|500px]]
  +
   
 
Review the slip total on the T5 Summary.
  
Review the slip total on the T5 Summary.
   
  +
[[File:T5 Slips T5 Slip Summary.png|500px]]
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Click on Excel Import when ready to import.
  
  +
  +
[[File:T5 Slips T5 Box Amounts.png|500px]]
   
⚫
==T5 Slip Transmission==
  
   
 
Print T5 (Hard Copy and PDF’s) and send to manager.
  
Print T5 (Hard Copy and PDF’s) and send to manager.
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−
When the file is ready for transfer, please review prior to transfer:
  
   
  +
Note: Print a test copy prior to printing all recipient copies. Also, print using 2 pages per paper.
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Under File, choose options to check account and web access has been entered.
  
  +
−
 
  +
[[File:T5 Slips T5 Print PDF.png|250px]]
  +
  ⚫
==T5 Slips Transmission==
  +
  +
All reviews indicated by software are required to be addressed in order to submit (eg. Common errors: Special characters are not allowed (Eg. #) and address lines cannot exceed 30 characters.
  +
  +
When the file is ready for transfer, choose options under file to click on '''Slips Accounts'''. Enter '''Account Number''' and '''Web Access Code'''. 'Transmitter Number' can be empty and software will assign a number.
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  +
'''Account Number''': 105448567RZ0001
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  +
'''Web Access Code''': D00Z42
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  +
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[[File:T5 Slips Slip Accounts.png|500px]]
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  +
[[File:T5 Slips Slip Accounts 2.png|500px]]
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  +
 
 
 
Click “Agree” to continue with T5 submission.
  
Click “Agree” to continue with T5 submission.
 
 
   
  +
[[File:T5 Slips Internet file transfer.png|500px]]
  +
  +
Once T5 have been submitted, save a PDF copy that confirms the T5 submission.
  +
  +
The XML file can be saved in '''History''' under '''File'''. Click on the icon at the far right to save XML file.
   
  +
[[File:T5 Slips XML save file.png|500px]]
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Save xml file
  

Latest revision as of 12:24, 21 January 2025

T5 Slips

The software to produce T5 slips is TaxCycle (Xero) and this software has to be purchased every year.

Notify IT to purchase software (around November), and submit before deadline (around February).

TaxCycle website

T5 Slips Preparation

To begin, open the T5 software icon.

T5 Slips Open T5.png


Prepare an Excel import file using the template from TaxCycle.

  • The template can be retrieved clicking on the Create Excel template function.

T5 Slips Create template.png

  • Retrieve worksheet from manager and prepare the data to template for import.

T5 Slips Template worksheet.png


Categories that are used to prepare T5 slip:

  • Recipient Type (eg. Corporation, Individual)
  • Social Insurance Number
  • Individual First Name
  • Individual Last Name
  • Business Name
  • Business Number
  • Recipient Address Line 1
  • Recipient Address Line 2
  • Recipient Address City
  • Recipient Address Province
  • Recipient Address Postal Code
  • Recipient Address Country
  • Footnote (eg. Eligible Class G Dividend / Promissory Notes Interest / Class E & G Premium on Redemptions)
  • Actual amount of dividends other than eligible dividends [Box 10]
  • Interest from Canadian Sources [Box 13]
  • Actual amount of eligible dividends [Box 24]


Click on Excel import when ready.

T5 Slips Excel import.png


To view previous templates, the files are saved on the TaxCycle directory \\superserver.unipharm.local\Accounting\TaxCycle\

T5 Slips Review

Review the information (eg. business name, addresses) and amounts on the T5 slips are correct.

T5 Slips T5 Sample.png


Review the slip total on the T5 Summary.

T5 Slips T5 Slip Summary.png

T5 Slips T5 Box Amounts.png


Print T5 (Hard Copy and PDF’s) and send to manager.

Note: Print a test copy prior to printing all recipient copies. Also, print using 2 pages per paper.

T5 Slips T5 Print PDF.png

T5 Slips Transmission

All reviews indicated by software are required to be addressed in order to submit (eg. Common errors: Special characters are not allowed (Eg. #) and address lines cannot exceed 30 characters.

When the file is ready for transfer, choose options under file to click on Slips Accounts. Enter Account Number and Web Access Code. 'Transmitter Number' can be empty and software will assign a number.

Account Number: 105448567RZ0001

Web Access Code: D00Z42


T5 Slips Slip Accounts.png

T5 Slips Slip Accounts 2.png


Click “Agree” to continue with T5 submission.


T5 Slips Internet file transfer.png

Once T5 have been submitted, save a PDF copy that confirms the T5 submission.

The XML file can be saved in History under File. Click on the icon at the far right to save XML file.

T5 Slips XML save file.png

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