Record owner salary and remittances

On an incorporated book you can record what you paid yourself, so the deductions and T4 totals are ready at year-end:

1. Go to Ledger › Accounting › Payroll.
2. On the Owner salary card, choose the shareholder and pay date, and enter the Gross pay, income tax, CPP, and EI amounts. Set Net paid by to Bank / cash or Shareholder loan. For Bank / cash, choose the account the net pay left under Paid from, then Record pay run.
3. When you send the deductions to the CRA, choose the account they were paid from under Paid from beside Recorded pay runs, tick the pay runs, and use Remit selected to record the remittance.

TALISK_HQ books the pay run and accrues the source deductions until you remit them, and T4-prep totals roll up per shareholder for the year. It records the figures you enter (it never computes withholding) so use the CRA's calculator or your payroll provider for the numbers. There's also a 3rd-party payroll payment card for capturing a provider's run, with its own Paid from.

Paid from lists your bank accounts, cards and lines of credit. With only one, TALISK_HQ fills it in; with several you must choose, because the money is booked out of that account rather than a general cash account. A business with none set up books to Cash / Bank as before. Running payroll and filing stay with your provider and accountant.