Hi Walter:

CRA must have sent you a breakdown of CPP, EI & Income Tax amounts due to the discrepancy. CPP & EI would go to the respective CPP & EI expense accounts. For Income tax it depends upon whether you underpaid your payroll amounts due to CRA over the year compared  to what has been filed on the T4's. If so it would be debited to Income Tax Payable.

Hope this answers your question!

Hi Walter:

CRA must have sent you a breakdown of CPP, EI & Income Tax amounts due to the discrepancy. CPP & EI would go to the respective CPP & EI expense accounts. For Income tax it depends upon whether you underpaid your payroll amounts due to CRA over the year compared  to what has been filed on the T4's. If so it would be debited to Income Tax Payable.

Hope this answers your question!

Awesome. Thank you so much. Appreciate your help.

Hi Walter Ramsay, if the above suggested answer helped, please do mark it as verified  for the benefit of others in this forum :). Thank you!

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