Generate and compile the employee and employer data which your electronic files require.
- Ensure that your payroll is complete for the year that just ended (that is, you have printed, posted, and distributed all checks).
- If you want to verify the accuracy of the information on your T4 slips, review each T4 slip on-screen and make changes, as needed.There are a few reasons that you might want to review this information, including:
- You don't have complete payroll data entered for the tax year because it was your first year using ProContractor and you didn't load initial balances.
- You haven't set up all of the needed payroll fringes and deductions in ProContractor.
- Some of the data is based on the Employee record from the last payroll you ran for that employee in the tax year, so it's possible some of the information could be incorrect.
- If you want to prevent payroll checks from being posted or voided in the year that just ended (or any prior year) before you have prepared your year-end forms, close the last quarter of the year on the Payroll Settings screen.
- Generate an XML file for T4 slips to submit electronically.