Skip to content
Home » Best Business Strategies Latest Posts » Sage 50 Accounting News » 2020.1 Sage 50 Release Notes- US version

2020.1 Sage 50 Release Notes- US version

Sage logo

The 2020.1 Sage 50 release includes – Payroll Updates for Compliance with the Revised

Employee W-4Withholding Forms
Issue:
 The U.S. Internal Revenue Service (IRS) released a new W-4 tax form that eliminates the concept of Allowances for employees, as a result of legislation passed by Congress with the passage of the Tax Cuts & Jobs Act of 2017. Therefore, the process for computing Federal Income Tax when payroll is run for employees has been altered significantly with the additional information given by employees on the revised W-4 Form.

Solution:
 Several new payroll fields on the “Withholding Info” tab of Employee Maintenance records was added and changes to the Payroll Tax Calculator were made to remain compliant with Federal Personal Income Tax Computations for calendar years 2020-2025.

The 2020.1 Sage 50 release includes – 1099 Tax Forms Integration with Aatrix
In 2015, Sage added the option of doing 1099s using a “Mapping Wizard” that was supposed to allow you export your 1099 data to Excel, and then follow a 21 step process (that didn’t really work) to import the data in Aatrix so that 1099 forms could be printed on blank forms and/or filed electronically.

Sage 50 US 2020.1 will directly integrate 1099 data with the Aatrix Tax Forms engine, eliminating the need to manually manipulate and map data. This will make it much easier to eFile 1099s. That’s very good news for anyone in a state that requires all 1099 issuers to eFile

Issue:
 Sage 50 US has always supported the printing of 1099-MISC/1099-INT and 1096 tax forms to pre-printed forms. In 2015, Aatrix provided a Mapping Wizard that permitted users to export the 1099 Vendor Report and transform the data in Microsoft Excel, which enabled the eFiling of such tax forms for the first time, however, 21 additional steps were required in order to do so, when compared with the similar process for filing W-2s. 

Solution: 
Sage 50 US 2020.1 now directly integrates 1099 information with the Aatrix Tax Forms engine, and simplifying the process by eliminating the need to manually map the information to the required fields, facilitating more adoption of eFile options and reducing the level of users that balked at the process once seeing how many steps were previously involved.

2020.1 – Human Resource Forms and Compliance Engine with Aatrix.  The 2020.1 Sage 50 release includes – Human Resource Forms and Compliance Engine with Aatrix. The Aatrix Human Resource Forms and Compliance Engine offers a comprehensive set of forms for employee and payroll management. You’ll be able to access the new forms by going to the Reports & Forms menu Forms > Human Resource Forms.

Issue:
 Desktop Payroll users typically hunt for necessary Human Resources forms for properly documenting employee activity, and traditionally, Sage 50 never offered these forms, including entries on the revised W-4 Form used to compute proper Federal Income Tax Withholding.

Solution:
 Sage 50 US 2020.1 with the addition of the Aatrix Human Resource Forms and Compliance Engine offers a comprehensive set of forms for employee and payroll management. To access the Aatrix Human Resource Forms in 2020.1, the Sage user can go to Reports & Forms>Forms>Human Resource Forms as shown below. Note: In later Releases of the product, additional entry points to be added in later Releases of the product, namely on the Navigation Aids/Dashboard, from the “Employees & Payroll” pane and under “Forms”.

To access the Aatrix Human Resource Forms in 2020.1, the Sage user can go to Reports & Forms>Forms>Human Resource Forms as shown below.
Note: In later Releases of the product, additional entry points to be added in later releases of the product, namely on the Navigation Aids/Dashboard,from the “Employees & Payroll” pane and under “Forms”.

Leave a Reply

Cart Menu Button Image0Left Menu Icon
Your Cart