There is an important CRA Update for Sage, which you need to apply prior to processing payroll in January 2019.
This is vital for Sage 300 and Sage BusinessVision customers.
This is the ideal time to contact Britec and be certain that the update is performed professionally, properly and promptly. It is strongly recommended to have this update installed before the first payroll in the new year.
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.
This tax update modifies the payroll tax tables that are used by Sage 300 and Sage BusinessVision to calculate payroll remissions. These are changes implemented by the Canada Revenue Agency that are effective January 1, 2019, and are relevant to all provinces and territories.
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 2019 Sage 300 or Sage BusinessVision Payroll Update?
A: Before you complete your first payroll run in January 2019! This includes instances when you are paying employees for time worked in December 2018.
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.