Accounting Finance:T5 Slips
T5 Slips
T5 Slip Preparation
Prepare an Excel import file using the template from TaxCycle.
- The template can be retrieved clicking on the Create Excel template function (See screenshot below).
- Retrieve worksheet from manager and prepare the data to template for import.
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 Slip Review
Review the information (eg. addresses) and amounts on the T5 slips are correct.
Review the slip total on the T5 Summary.
Print T5 (Hard Copy and PDF’s) and send to manager.
When the file is ready for transfer, click on Slips Accounts. Enter Account Number and Web Access Code. 'Transmitter Number' can be empty and software will assign a number.
T5 Slip Transmission
Print T5 (Hard Copy and PDF’s) and send to manager.
When the file is ready for transfer, please review prior to transfer:
Under File, choose options to check account and web access has been entered.
Click “Agree” to continue with T5 submission.
Save xml file