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Archive for the tag “Updates”

What do to if your TD1 amounts are not updating in QuickBooks

Happy New Year! We’re a few days into 2015, and I’ve come across several client files where the current Federal and Provincial TD1 amounts are NOT updating. This is a known issue in QuickBooks desktop and hopefully there will be a fix soon.

First things thing. Please make sure you have the latest tax table installed in your software by going to Employees < My Payroll Service > Tax Tables Updates. Here’s a link explaining this in greater detail:

http://support.intuit.ca/quickbooks/en-ca/iq/Update-QuickBooks/Update-tax-tables-for-QuickBooks-Payroll/HOW15192.html

Now that you’ve confirmed you have the latest tax table, it’s important that you check your TD1 Review List to make your employees have been updated with the current Federal and Provincial amounts.  I run this report before running payroll at the start of every new calendar year. Here’s how to check:

Reports > Employees & Payroll > TD1 Review List

You will see a list of your employees. The columns contain the Payroll Province and Federal and Provincial ‘Current’ and ‘Suggested’ TD1. If the ‘Current’ doesn’t match the ‘Suggested,’double click on the amount. You will now be in the Taxes and TD1 for (Employee Name) window. Override the incorrect ‘Current’ amounts with the correct ‘Suggested’ amounts. NOTE: if you’ve ever used a ‘Custom’ amount (in other words, you’ve entered something other than the basic default amount into the employee profile), this amount will ALWAYS need to be manually updated, unless you change back to the basic ‘Suggested’ amount (and the updates are working properly). Now would be a good time to hand your ‘Custom Amount’ employees a blank Federal and Provincial TD1 form so you can update their tax credits in Quickbooks. Here’s the link to the forms for 2015:

http://www.cra-arc.gc.ca/formspubs/frms/td1-eng.html

It’s worth noting that “Individuals do not have to complete a new TD1 every year unless there is a change to their federal, provincial or territorial personal tax credit amounts. If a change happens, they must complete a new form no later than seven days after the change.” This is from the following page on the CRA website where you’ll find more information about form TD1:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/hwpyrllwrks/stps/hrng/td1/menu-eng.html

If you’ve already run the first payroll of the year, don’t panic. Just go in and make the changes now.

 

Why is my previous QuickBooks GST/HST ‘File Sales Tax’ journal entry incorrect?

ISSUE: the journal entry that QuickBooks automatically creates when filing sales tax is not entered correctly. The most common problem is missing tax items. You may also see missing information on the memo line, and you may even see the tax items switched around.

This happened to one of my clients this week. He noticed an ‘unassigned tax amount’ when attempting to ‘file sales tax.’ He clicked on the amount and it took him back the journal entry that QuickBooks had created for the previous sales tax filing. We then started to uncover some strange errors…

Here’s a screenshot of what a normal FILE SALES TAX journal entry should look like:

Correct JE for File Sales Tax

And here are two screenshots of the incorrect FILE SALES TAX journal entries discovered in my client’s file:

Incorrect JEIncorrect JE #2This is a known issue. QuickBooks senior tech support tells me it’s essentially random. It started with the 2012 R12 update and the 2013 R4 update. It’s considered a critical issue with moderate severity and high impact. The engineers are working on completely removing this issue. 

SOLUTION: Go back to the incorrect journal entries that QuickBooks created and manually correct them. Review previous, current, and future tax filings carefully.

My advice until Intuit works on eliminating this potential problem is to keep current with your updates and CHECK YOUR ‘FILE SALE TAX’ WINDOW CAREFULLY BEFORE FILING! Watch out for unassigned tax amounts. If you have any, drill down on the amount. If you end up in a previous ‘File Sales Tax’ journal entry, and you spot something wrong, you’ve likely encountered the ‘File Sales Tax’ bug! You will need to correct the journal entry by entering the correct tax items. If you discover information missing from the memo line, correct that as well. You can refer to previous filings for missing information.

NOTE: these errors carry over to the next sales tax return. If you discover more than just the last “File Sales Tax’ journal entry incorrect, your previous filings with the CRA could have errors.

Other tips for spotting errors in the File Sales Tax window: Manually multiply line 101 by the tax rate in your province for a ballpark figure of what line 103 should be. Drill down on line 103. Look for a balance leading into the period. This will be zero if you have not made changes to your sales after your last filing. Drill down on line 106. Again, look for a balance leading into the quarter. This will also be zero if you haven’t made any changes to your purchases after your last filing.

Be careful when troubleshooting your sales tax, and always make a backup of your file before making any changes.

I’d love to hear from you if you’ve run into this particular bug!

QuickBooks Canada 2013 R7 released. Goodbye, Samples of Common Payroll Items…

UPDATE: Apparently the problems plaguing the R7 update in the US could be problems in Canada as well. According to tech support, the R8 update (payroll) will be released by the end of June. It is advised that you wait!

QuickBooks released their 2013 R7 update this week. If you’ve selected the option for automatic updates, you should be prompted to install the update when you open QuickBooks. The other option is to manually install the R7 update. Here’s a link to the instructions as well as the R7 release notes:

How to manually install QuickBooks 2013 updates

The R7 update includes the July 2013 (97th Edition) Tax Table, which you’ll need before processing payroll in July. To confirm you have the correct tax table:

Employees > My Payroll Service > Tax Table Information. From there you can click on the Tax Table Info button for more detailed information.

One important thing I noticed about this release is that they’ve removed the Samples of Common Payroll Items guide from the HELP menu! Rather than a handy chart, they now direct you to the CRA website. I’m not a fan of this change! I loved the Samples of Common Payroll Items guide. However, I’ve been told by the folks at Intuit that this change is permanent.

TIP: before updating your file to R7, copy and paste this guide into Word.

That said, it’s always been a good idea to consult the CRA and Service Canada websites when setting up your payroll items. Look for the T4130 Employers’ Guide – Taxable Benefits and Allowances on the CRA website and information about insurable earnings on the  How to Complete the Record of Employment Form on the Service Canada website.

Holy Colour, Batman! QuickBooks 2013 R6 update released in Canada

The R6 update for QuickBooks 2013 is now available for Canadian versions of QuickBooks. If you’ve selected the option for AUTOMATIC UPDATE*, you should be prompted to install the update when you open the program. If not, you can go to HELP > UPDATE QUICKBOOKS > UPDATE NOW and select GET UPDATES. The other option is to manually download the update. Here’s a link to the support page which provides the link, and also, a link to the release notes:

How to manually install QuickBooks 2013 updates

The R6 update introduces the “Company File Colour Scheme” which replaces the “Company Colour Flag” preference. If you use it, it’s suddenly a blast of colour when what you’re used to seeing is a tiny little flag! Orange was okay when it was just a flag, but wow, is it ever bright when it’s the entire title bar! Some of the colours are equally as shocking. I’ve settled on the blue-medium which is fairly easy on the eyes. Here’s where to find it if you don’t have it set: FILE > PREFERENCES > DESKTOP VIEW. Choose the MY PREFERENCES tab and choose a colour under the COMPANY FILE COLOUR SCHEME.

The R6 update also clears up some of the ‘real estate’ issues I was complaining about in an earlier post, along with several other fixes and improvements, many for the Enterprise version. The release notes don’t say anything about the “Fatal Application Exit,” which I continue to get pretty much every day I’m working in QuickBooks. Here’s what Intuit says about the problem:

Error: QBW32.EXE – Aborting Application: QuickBooks is now terminating when working in 2013

I’m still anxiously waiting for the new feature where I have the ability to collapse specific sub-accounts on financial reports to show up in Accountant Edition and Premier and not just Pro!

*NOTE: to set your copy of QuickBooks for AUTOMATIC UPDATE, go to                      HELP > UPDATE QUICKBOOKS > OPTIONS and select the YES radio button next to AUTOMATIC UPDATE. You can also choose whether to used a SHARED DOWNLOAD if you’re in a multi-user environment.

QuickBooks R5 update released in Canada (but it doesn’t fix the T4 duplicating address bug)

The R5 update for QuickBooks 2013 was released on Friday for Canadian versions of QuickBooks. If you’ve selected the option for automatic update, you should be prompted to install the update when you open the program. Strangely, this didn’t happen for me, even though my preference is set to automatic. What I did instead is go to HELP > UPDATE QUICKBOOKS > UPDATE NOW. The other option is to manually download the R5 update, so here’s a link to the support page which has the link, and also, a link to release notes:

How to manually install QuickBooks 2013 updates

I was hoping the R5 update would fix the T4 address glitch, but it hasn’t. The problem is that employee addresses – modified after installing QB 2013 – seem to have duplicated themselves on the T4. Canada Post is aware of this problem and the T4s will be delivered with no problems. However, if you don’t have too many forms and/or the glitch is bothersome, you might consider this fix: place a period (.) on the second address line. It takes the place of the duplicated address on the T4. Tiny but mighty!

And here’s an important note. If you’ve had address issues with employees (and even if you haven’t), please check your COMPANY INFORMATION window before issuing T4s to make sure the address is correct. I’ve seen several data files where the company address had duplicated itself quite strangely as well.

One last word of advice. Always check over your T4s very carefully. Run the T4 Summary report and an Employee Summary Earnings report to cross check all figures. This morning I’m having an issue with Box 24 showing the same random amount of $50 for all employees. This is very peculiar. I’m thankful I can manually update Box 24 so I can get these processed.

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