How to report travel on the T4 in Box 32

Summary

How to record travel on Box 32 on the T4 in Sage 50 Accounting.

Select File, Save As, and name the new file T4 201x Reporting (or any name you choose)
Sage will open the new file as T4 201x Reporting (see the name in the Title bar)

Select Setup, Settings, Payroll, Incomes
Rename an available field to Travel with Type as Benefit
Check of Calc Tax and Calc CPP. See Related resources on why this is the case.
Select Linked Accounts, Incomes and add a Linked Account for Travel

Create a new paycheque for the employee
Date the paycheque for 12/31 and change Cheque Number to ADJ Travel (or any name you would like)
Zero out all amounts on the paycheque
On the Income tab, enter an amount for the Travel (listed under Other Amounts column)
Input 0.01 into any income field that is not a benefit, e.g. Loans
Process/Post the paycheque.
Create another paycheque for the employee dated 12/31 and change the Cheque number to ADJ Travel 2 and input -0.01, e.g. Loans to reverse the previous income that was reported.

Select Reports, Payroll, Print T4 Slips and Summary and make appropriate selections
On the T4 Box Options window in the Incomes section, click the drop down box next to Travel and select 32
Continue processing the T4
Verify the travel amount displays in Box 32 on the T4. (The Travel benefit will also display in box 14 as Employment income due to CRA regulations see additional information section below.