T4 Pension Adjustments

Completed

Pension Adjustment Import Process

What we’re doing:

Provide the ability to mass update amended pension adjustments for employees for prior years and re-submit to CRA. Enhance T4 Statement Regeneration and T4 Amended Statement processes with the ability to reload PA amounts.

Why we think you’ll like it:

Payroll users will save time and reduce errors by being able to import amended pension adjustment amounts to be used in the T4 XML Creation process, T4 Statement Regeneration and T4 Amended Statement processes.

Learn more:

Pension Adjustments

Navigate to Payroll > T4/T4A Processing > T4/T4A Pension Adjustment > Pension Adjustment Import Process

Pension Adjustments would be run for each payroll group that requires amendment (pension adjustments are run once per payroll group; the file you import may include multiple years)

When you select to import using the amended PA values, the option to Override the PA amount will be defaulted as this will normally be an override PA amount.

To review the adjustments for accuracy before final processing, select ‘Report Only’ (R). Once satisfied with the adjustments to be made, select 'P' to process.

An Excel export file will be created containing all the accepted PA adjustment entries. This export will include the import entry number of each entry with the intent of supplying an easy reference as to which imported entries have not been processed for the import file. This feature will be very helpful when the import file contains data for multiple payrolls.

T4 Amended Statement Processing

Navigate to Payroll > T4/T4A Processing > T4/T4A Amended Statement Processing

The T4 Amended Statement process has been updated so that anytime that you need to reissue an amended T4 you can choose to include the new pension adjustment amount. This is equivalent to the current process in Statement Maintenance where you would update an employees adjustment amount manually, except that with this new process you may update multiple employees, all at one time.

A new prompt has been added ‘Reload the Employees’ PA Amounts' - select 'Y' Yes Reload PA

T4 Statement Regeneration

Navigate to Payroll > T4/T4A Processing > T4/T4A Statement Regeneration

The option to reload the PA amount during T4 Statement Regeneration allows you to pull in revised PA amounts without having to recreate the T4 Statements, thus no changes will be overwritten.

T4 XML Creation

To submit the pension amendments to CRA, navigate to Payroll > T4/T4A Processing > T4/T4A Pension Adjustment >T4/T4A XML Creation, and run the process for each year that has adjustments. After the file has been downloaded to your system, you may send to CRA for further processing.