I have more than 50 information slips to submit by "mandatory electronic filing" at the end of each year. If you do not file the information returns by Internet File Transfer in eXtensible mark-up language (XML), you are liable to a penalty of up to $2,500.
I am extremely disappointed that QBO doesn't have the same ability that QBs Desktop had where I could run the T5018 report, verify the information for each contractor and electronically submit the report in an XML format to the CRA through QBs Desktop. One of the reasons I switched to QBO was because I thought it would be a more up-to-date program that offered even more than QBs Desktop - I never imagined it would actually offer less and not fill my needs.
How do you recommend I create an XML file that the CRA will accept?
