Use
In conjunction with the
Year-End Reporting utility, the Magnetic Media Filing utility enables your enterprise to generate Magnetic Media files in the prescribed formats for submission to the Canadian Customs and Revenue Agency and, if applicable, le Ministère du Revenu du Québec. Files created by the Magnetic Media Filing utility contain all year-end data required by federal and provincial tax authorities.Prerequisites
Before you may execute Magnetic Media Filing, you are required to have executed the Year-End Reporting utility using one of the following run parameters: Production run or Amendment run. When you execute Year-End Reporting under one of these parameters, the system creates corresponding year-end data for the selected tax year, tax forms, and tax reporting unit in cluster PCL4.
Procedure
To use Magnetic Media Filing, follow the guidelines below.
By saving each set of entries as a distinct variant, you can reduce repetitive data entry.
5. Select Execute.
Result
A Magnetic Media file, generated from the data stored in cluster PCL4, is created and sent to the specified output file path for subsequent submission to the appropriate tax authority.