Sage 50cloud Accounting Release 2022.0
We are excited to announce that the newest edition of Sage 50cloud Accounting is alive today! With this release, Sage 50cloud 2022.0 - U.S. Edition, you’ll see enhancements to save lots of you time and assist you stay compliant such as:
Support for state family leave withholding Improved banking services integration Help when encountering connection issues when accessing your shared company Updates to 1099 references
Continue reading for more on what this release offers and consider our release videos below to dive into these enhancements. Support for State Paid Family and Medical Leave In 2020, the federal implemented a short lived Paid Family Leave program under the Families First Corona virus Response Act as a part of COVID-19 support programs. Some states have adopted their own permanent Paid Family Leave programs to assist cover costs incurred thanks to current and future medical issues. These states include Connecticut, Washington D.C., Massachusetts, New Jersey, New York, and Washington, with additional states coming within the future. In this release, we’ve developed new functionality that permits for this new withholding as a part of other state taxes withheld. We are expanding the fields available to accommodate state specific family leave withholding, both for the present states also as allow us to incorporate additional states within the future. For an easy experience, when fixing a replacement company, users can select a Family Leave state during the Payroll Setup Wizard to populate new Family Leave withholding fields for both employee and employer. This process will setup the new Sage maintained payroll formulas to calculate each states specific withholding amounts. Click for more info- Sage 50cloud 2022
Improved Banking Services Experience With this enhancement, we’re delivering you a far better experience when connecting on to your bank accounts. Direct connections, also referred to as Bank Feeds, allow you to download bank transactions and reconcile accounts, eliminating the cumbersome process of downloading and uploading transaction files. during this release, we’ve made updates to enable a faster, more reliable connection. New users will have an easy on boarding experience when adding banks to quickly be ready to download their bank transactions. to require advantage of the update, existing users will got to migrate to the new service. Existing users are going to be walked through an easy , one-time conversion to the new services.
Know once you Are Offline, and Keep doing all of your Job We’ve all been there, especially this past year. You’re hard at work on a shared company when suddenly something happens to your internet or connection. during this update, we’ve released a feature to assist you thru it. This new feature will show you what the matter is and provides options on steps to remediate the difficulty . If you're experiencing a lost internet connection, you’ll receive guidance on the way to fix the matter . If the matter is said to a Sage services outage and if a fix isn't immediately available, you'll now access your company files while offline, in read-only mode. If you would like immediate access to your company, there also are options to open the corporate for editing purposes.
Updates to 1099 References For 2020 tax reporting, the IRS redesigned Form 1099-MISC and altered the box designations. They also reintroduced Form 1099-NEC to be used for reporting non-employee compensation. Although we addressed the reporting changes last year for the 1099-MISC and 1099-NEC to make sure that the filing was correct, we didn't have enough time to form these changes within the descriptive fields in Sage 50. during this release, we've now changed the 1099 default settings and box designations reflect the right forms on which this data is reported.
We’ve Rebranded Sage ID: Sage ID Now mentioned as Sage You may notice with this release that we’ve updated a couple of screens and banners to get rid of the term Sage ID. rather than being asked to enter your Sage ID, now you’ll be prompted to enter your Sage email address, or your Sage account details. We’ve decided to deprecate the name “Sage ID” because the login experience across your Sage services may be a fully integrated and built-in a part of your experience. You’ll still get the simplicity and security to access all of your connected services with one login. And you’ll see enhancements like new self-service features and authentication protocols for enhanced security. We’re just not using the name ‘Sage ID’.
Looking Ahead to the longer term Your feedback is invaluable to the Sage team and is at the guts of our product releases. we'll still add product enhancements supported your feedback within the next release. Until then please keep sharing your feedback, suggestions, and merchandise ideas within the Sage City Sage 50 Ideas area.