Sage 50 U.S. Edition 2021.1 is scheduled to release on September 30, 2020.
This update resolves mouse over issues and addresses Payroll Tax as well as 941 filings.
If you are currently using Sage 50 2021.0 or need access to the new Covid pay features, take the upgrade. If you are still on Sage 50 2020.2, we suggest that you create a good backup of your company file and save it in a secure place before upgrading. Install the upgrade using the instructions below. Try it out. If you are not having any issues, you are good to go.
Update Instructions For Those Entitled
First, you will need to open Sage 50 on your server. Next, click on Services Tab and click on Check for Updates. If you are entitled to the update, follow the prompts on screen. Lastly, install updates on all other workstations.
Here is what’s new and improved in update 2021.1:
– Sage is always listening!
You reported issues related to MOUSE freezing or lagging. Sage fixed it.
Expansion of Pay Types
With this release, you can now set up an unlimited number of Pay Types for both hourly and salaried employees. The expansion of Pay Types will also help firms who must accommodate tracking of the COVID-19 Families First
Although you can set up an
Important! We have changed
for an employee must have an
creating paychecks. We
pay types display correctly.
tab. Clear the Use Default
Sage 50 will not be adding the ability to opt-in or out at the company level. Employees will need to be manually configured if you wish to defer the withholding for them on how to configure the withholding as a memo item so the amounts are accumulated without actually being withheld. This will allow you to determine the total amounts deferred at year end and setup the new withholding in 2021 to cover both current and the previous amount deferred.
The FFCRA and Form 941
To help you comply with financial reporting, you can easily extract the amounts paid for Sick and Family Leave allowed under the FFCRA and include them on the quarterly
In the Reports & Forms module, if you select Form 941 under Payroll Tax Forms, you receive a prompt asking if any employees received paid sick or family and medical leave as defined in the FFCRA. If you select Yes, you then have to select the Pay Level names used for Sick and Family Leave. The associated amounts are extracted and placed on lines 5a (i) and 5a (ii).
Here is a video on Sage 50 Release 2021.1
If you are looking to upgrade or have a question about the NEW sage 50 2021 program, please feel free to contact us. We are here for you!
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