Wow! Did anyone bring up the problems and cost of implementing each of these requirements?
An A/P module records invoices by invoice date, not payment date (accrual vs cash).
For an off-calendar fiscal year, it’s possible that 2 sets of reports would have to be pulled.
I haven’t tried T4A’s in Sage 50, but the T5018’s print amounts including tax.
How is a payor supposed to separate payments for both goods & services. For example, an IT consultant gives a lump sum quote for installing a new file server. This includes both goods and services. Supplier issues an invoice based on an agreed quote. Does the payor take a shot at separating the two components?
I’m guessing that, for all but the very simplest of situations, the accounting system will be incapable of producing T4A’s and the summary. A third party solution (eg. AvanTax from Elm Computers) will be necessary to produce the forms. A/P module customization may well be necessary to produce the required information. And, unless this can be imported in a third party program, manual re-entry is required.
I don’t disagree with CRA trying to route out unreported income, but this is way beyond reasonable.
I’ve been told that this was discussed at a CRA Roundtable and CRA backed off, but I can’t find anything on it.
Harley Hemeon, B.Sc., CPA, CGA
Harley Hemeon Inc.
1639 Eastern Shore Rd.
West Berlin, NS B0J 1H0
213 – 30 Chipstone Close
Halifax, NS B3M 4H5
Cell: (902) 483-8193
Fax: (902) 356-2716
West Berlin: (902) 354-3250
Halifax: (902) 407-0360