Sage has a CRA Payroll Update which you need to apply before running your first payroll in January 2018.
This is important for both Sage 300 and Sage BusinessVision (BV) customers.
It is a good time to contact Britec to ensure that the update is performed properly and professionally. We strongly recommend having the update installed before running your first payroll of 2018.
Please contact us to schedule an installation of your pay updates.
Why is this important?
The taxation update reflects the most recent payroll changes from the CRA.
The January 2018 tax update contains modifications to payroll tax tables and calculations that are used by Sage 300 and Sage BusinessVision. These modifications reflect the income tax changes announced by the Canada Revenue Agency (CRA) that are effective January 1, 2018. There are modifications for the tax tables for all provinces.
Answers to common questions
Q: Only I have access to the payroll module in my Sage 300 or Sage BusinessVision software, can I just install the payroll update on my computer?
A: The payroll update needs to be installed on all computers where Sage products are installed. Take the guess work out of the update and contact Britec today to book an appointment for your Sage payroll update.
Q: When should I install the 2018 Sage 300 or Sage BusinessVision Payroll Update?
A: Before you complete your first payroll run in January 2018! This includes instances when you are paying employees for time worked in December 2017.
Q: There are differences between the taxes calculated by Sage 300 or Sage BusinessVision and the taxes I calculate using manual tax tables. Why does this happen? Is Sage correct?
A: The Sage BusinessVision calculations are correct because they use exact formulas outlined in the tax laws, and published in CRA Publication T4127 107th edition. Manual tables estimate tax deductions for a salary range, while the Sage BusinessVision formulas work with fractions of a cent. Also, manual tables ignore certain provincial allowances and deductions or other tax implications which employees may have.