T5018 slips are used to report service payments made to subcontractors. The payer is responsible for filing its T5018 summary annually either on a calendar or fiscal year basis. Although distribution of the slips is not mandatory, it’s definitely a best practice! The CPL advantage comes in streamlining documentation, and facilitating the data import into approved tax software.
- The data input schedule are laid out to on an subcontractors basis and summarized for the issuer. This make the review process simpler – check the totals on the T5018 Import Template to the software forms.
- Keeps the flexibility of a spreadsheet – information can be copied from the template for further work or distribution.
- Subcontractor data files are exported into a separate CSV file which may be
imported into the tax preparation software as data for the actual slips eliminating a second manual entry.
- The Corporate tab mimics and aggregates the individual data into a T5018 Summary.
- Print Button for printing the summary report.
- The Subcontractor tab is your data entry section.
- Add and Delete button permits you to add and delete subcontractors. This maintains the functionality and formatting of the template.
- Flexibility to customize your payments in the worksheet to ensure amounts reported agree to your records.
- Export button creates a separate CSV file in the same network directory which may be used to import the slip information directly into tax preparation software.
- We provide you with the pre-formatted linking file to ensure the CSV file imports
correctly (the tax preparation software requires two files).
Each template including user manual is $550.00 plus applicable taxes.