Employee versus Independent Contractor and Taxation of Payments (HRIS vs FIS)

…collect Harmonized Sales Tax (HST) in respect to those payments (see Payroll and the HST). Integral to determining the appropriate tax treatment is the determination of an individual’s relationship with…

FAQs

…use them? Tax Code Corrections I accidentally used an incorrect tax code while processing an invoice. The cheque has already been processed. Is it still possible to correct the tax…

Internal Revenues and Internal Expense Recoveries

…Recoveries.   Types of Internal Transactions Corrections or adjustments to information contained in the FIS system: are processed using the journal entry create/input screen. examples include: correction of tax codes,…

Foreign Payments

…with a BIC (Bank Identifier Code). For payments to Mexico an 18 digit CLABE (Standardized Bank Account Code for Mexico) is required. For other foreign payments, the SWIFT code is…

Accounts Receivable, Collection Responsibilities and Uncollected Amounts

…Code If the accounts receivable invoice includes two items, each with different tax rate applications, then a different tax code should be used on each line of the invoice; Examples…

Certified Invoices

…the Income Tax Act. Refer to the following reference materials for guidance: GTFM: Employee versus Contractor / Taxation of Payments Income Tax Guide – Employee or Independent Contractor If after…

Course 2:  Accounts Payable Processing Part 1 – Basic Data Entry

…(Records Managements) Tax Code Summary Table Knowledge Centre – Tax Codes Procurement Services – Request New Vendor Account Knowledge Centre – How can I Avoid Processing a Duplicate Payment Knowledge…

Course 3:  Accounts Payable Processing Part 2 – Expense Reimbursements

…Documents Procurement Services – Consulting Services Tax Code Summary Table Knowledge Centre – Picking the Correct Tax Code for Expense Reimbursement Knowledge Centre – Tax Codes for Conference Registration Fees…

Objective and Responsibilities

…the established criteria and obtains assurance that this objective is being met. Departmental Finance Administrator Ensures that all transactions are accurately coded in accordance with established criteria. Codes applied to…

Preparing a Research Proposal Budget

…such services could be considered HST taxable. If the research services agreement includes other supplies being made, such as a right to access space (a GST/HST-taxable license to use space)…