If your company’s primary source of business income is construction, you must file T5018 slips and summary to report amounts paid to contractors for construction services.
You must file the report within six months of the end of your reporting period, which can be a calendar year or a fiscal year.
For more information about the T5018 slips and summary, contact the Canada Revenue Agency (CRA).
There are two ways you can prepare T5018 slips and summary in Sage Simply Accounting:
Printed T5018 - print the information on T5018 forms. If you file more than 50 T5018 slips for a calendar year, you must file the return over the Internet.
To print a T5018 Slip:
- In the Home window, open the Reports menu, select Vendors and Purchases, and then Print T5018 Slips.
- Select the vendors and the year you want. Click Select All to print slips for all vendors in the list.
- Select the type of year from the list (Calendar or Fiscal), and then the year to print the slip for.
- Select T5018 Summary, T5018 Statements, or both. You must submit both when you file your report with the Canada Revenue Agency.
- In the CRA Business No. box, enter your company's CRA account number. This number includes the "RZ" Program Identifier.
- Click OK to print the slip.
Online filing of T5018 forms - prepare your forms as a single XML file and upload them to the CRA web site using the Internet File Transfer service.
To file T5018 slips and summary online:
- In the Home window, on the File menu, choose Import/Export, then Electronic Filing, and then T5018 Online Filing.
- (Optional) If the introductory window opens with a description of how online filing works, click Continue. To bypass this window in the future, select Do not display this again.
- Enter your CRA Account Number (has to include the "RZ" Program Identifier) and fill in the information for the contact person at your company.
- Enter your six-digit Transmitter Number.
- Enter your eight-digit Submissions Reference ID, and click Next.
- Select the type of year from the list (Calendar Year or Fiscal Year), and then the year that you are filing for.
- Select a vendor or vendors from the list. You can also click Select All to select all the vendors in the list.
- Select the type of return that you are making.
- Original. Select this if you are filing new returns.
- Amended. Select this if you noticed an error after filing your return and want to refile to provide the correct information.
- Cancelled. Select this if you want to cancel a slip or slips after you filed your return.
- Click Next.
- Click Save This T5018 Return File. Copy the location of your saved XML file by highlighting it and pressing CTRL+C.
- Click Go to Canada Revenue Agency web site, and follow the instructions to upload your T5018 file to the Web. Use CTRL+V to paste the copied location of your saved file.
- Click Finish to close the wizard.