Are you ready to harness the benefits of the Sage 50 May 2018 Payroll update, but before that want to know in detail about the newly added features of the software application?
This Payroll software was released later in this year and as per the estimates, a lot more new features and improvement have been added in this edition of the software relatively to the previous ones.
In this article, we shall be taking you through some of the upgraded and enhanced features of the Sage 50 May 2018 payroll update.
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Steps for Download and Install the Sage 50 May 2018 Payroll Update
To download and install Sage 50 May 2018 payroll update, you simply have to go to the website of the Sage and find the download file and click on the same to proceed with the process.
The size of the file isn’t that heavy. It is approximately 2.3 MB. If you find any difficulty in downloading and installation of the May 2018 payroll update, don’t mind connecting with our Accountinghub Sage 50 support team and get an instant resolution.
Let’s have a quick glimpse at some of the improved and new add-on features of this edition of the Payroll software application without wasting much of your time:
State and Local Tax Modifications
Some changes have been incorporated in the State and Local taxes of given below states of the United States of America:
- Colorado State-run Income Tax – The withholding charges and salary base parameters for the year 2018 have now been changed.
- Idaho State-run Income Tax – The withholding charges and salary base parameters for the year 2018 have now been changed
- Utah State-run Income Tax – The withholding charges and salary base parameters for the year 2018 have now been changed
Tax Related Payroll Forms
Let’s have a peek at some of the modifications done in the Payroll tax forms:
Payroll Tax Forms: As per the latest updates, all the payroll tax forms will be upgraded in the Payroll Tax Form Chooser section. If you wish to get an update, make sure you click on the Federal or State form and hit on the Next tab.
Important reminder: When you will update your payroll forms, you will notice that the form lists that you usually see in your Payroll Tax Form Chooser section will also get updated.
In case, you are making an attempt to open 2017 form, for instance, any W-2’s, 940, 943 or 945 but due to certain reason can only have access to the 2016 forms itemized, then you have to follow the given steps to upgrade same to 2017 form:
- First of all, you have to click on the 2016 form that you wish to have and hit on OK button.
- In case, you are making use of the present Sage 50 Payroll Solutions or hold the Corporate Care subscription, then you will see a new dialog box that will request you to upgrade the forms.
- Once you are done with the updating of the forms, the 2017 year-end forms will be itemized in the Payroll Tax Form Chooser dialog box.
Important tip: Please be rest assured all the forms that are facilitated by Sage 50 Payroll software application are sanctioned by the tax establishments. There is an exception to only a couple of states that are still to get the sanction on their respective forms.
If you find the form that are available just for printing and can be attached in an email, and awaiting sanction, will publish with the following watermark “For Record Purposes Do Not File”. You have to wait till these forms are sanctioned by the tax authority.
Ensure that you tax updates have been correctly applied:
Please bear in mind that edition for this tax upgrade is 20180 50 for edition 2018. You have to perform the given steps to ensure that you tax related updates have been properly implied:
For Edition 2018:
- Firstly, go to Sage 50 software application
- Click on the Help section and then choose the About Sage 50 Accounting from the list of options
- Lastly, you have to verify whether the Setup Tax Update edition number is same as that of the edition number mentioned above.
Still, have questions?