Welcome to the end of 2020! Our 2021.1 release is straightforward, no new features have been added.
Note that you must install the 2021.1 update in order to print/e-file with updated T4, T4a, T5018, and RL-1 forms.
- The download for the 2021.1 version (update only*) is available on KB 108351.
- The 2020.3 version download is also available on KB 102293 should you wish to stay on that version.
- Our top resolved issue addresses the issue where in Sage 50 (Premium Accounting and higher) Auto Backup was locking the database, which interfered with using Remote Data Access and converting the company file. This has been fixed.
- In Pro Accounting and higher, when creating a Trial Balance report with the option Net Changes for Period, bank deposit transactions are no longer missing from the report's For Period columns.
- In Pro Accounting and higher, after processing an order with an inventory item and then changing the item number for that inventory item, any subsequent adjustment to the order will now properly affect the original item.
- Related to the integration in Sage 50 Pro Accounting and higher, if you processed an invoice in Sage Accounting and then turned off the regional tax for that invoice, you would get a generic error when downloading the transaction to Sage 50. The message has been improved to help clarify the steps needed to correct the problem.
CRA has changed reporting requirements due to COVID-19. With Release 2021.1, employment income during COVID-19 pay periods are now automatically calculated and reported on T4s.
If you have a support plan that includes payroll tax updates, you'll receive the tax updates for January 1, 2021. For complete details on the CRA income tax changes, contact your local tax services office or visit the CRA web site.
Your payroll update reflects the federal and provincial tax schedules in effect on January 1, 2021, as stated in the latest edition of the documents Payroll Deductions Formulas and Employers’ Guide – Payroll Deductions and Remittances from the CRA, Revenu Québec's Guide for Employers: Source Deductions and Contributions, as well as the schedules of Employment Insurance, Canada Pension Plan, and Québec Pension Plan.
See the listing of Federal and Provincial tax brackets and rates on page 2 of this PDF document
How to check the latest Connection Manager Version
You can look for the connection manager icon in the system tray found in the notifications bar in Windows 8.1 and 10. See icon example below for version 2021.1. Need more info? See this blog.
Tips on converting your shared on Remote Data Access
Please see the KB 107042 here with tips on converting your shared Remote Data Access data. Note that you must be in Single User mode to be able to convert a database to enable it to open and work with the latest update of Sage 50 CA. To do this, close out of Sage 50 and select the Single User option after signing back in.
Before you start processing payroll
- Review the new federal TD1 form and the TD1 form for your province or territory (or the TP 1015.3- V form for Québec) to become familiar with any changes.
- Provide your employees with the 2021 federal/provincial/territorial TD1 forms if they need to make changes to their personal claims.
- Adjust your employee records in Sage 50 Accounting to reflect the new tax credit amounts.
- Use KB 108352 to acquire the basic personal tax claim amounts for January 2021.
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