Receiver General

SOLVED

hello out there,

hope somebody can help me.

i do have an discrepancy of CPP /EI and Tax ( in my books it is higher then CRA gives me/     YAY:)

Now i wanna post an payment made to receiver general, for the full amount. Do i put the rest off the payable against an adjustment account??or how can i clear those accounts off after payment made??

it`s much appreciated

thank you!!

  • +1
    verified answer

    Just to be sure I understand your situation:

    Is this a result of a PIER report from CRA and you have underpaid? If so then you would debit the expense account for CPP and EI and then credit the CPP and EI payable accounts. Income Tax is not covered by PIER report. When you make your remittance to CRA for source deductions you will pay the balance of CPP and EI which includes the adjustment made along with the Inc Tax.

    If it is the other way around - you have overpaid CPP/EI/IncTx in 2022 then you would adjust the overpayments on the affected employee(s)' next paychqs - which will also adjust the CPP/EI/IncTx payable to be remitted to CRA. 

    If the overpayment is from 2021 after T4s submitted then CRA will automatically adjust employee(s) tax return. You can ask for a refund by completing and filing a Form PD24, Application for a Refund of Overdeducted CPP Contributions or EI Premiums

    Let me know if I understood your situation correctly.