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Cathy Zhang

Does sage 50 CA version 2021.1 solve the problem of T4 when the company has semi-monthly payroll?

SUGGESTED
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I just update our Sage 50 to 2021.1 version and generate T4 for 2020.

However, I found the data in box 57,  58  ,  59,  60  (required by government for 2020 Covid-19)  are not correct.

Our company has a semi-monthly payroll period. However, 57 , 58, 59, 60 requires 8 weeks' amount.  The data in each box is not correct. 

Does anyone has the same problem and does anyone know how to solve it?  Is there a place that I could enter the data in box 57,58,59,60 manually ?

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  • 0
    SUGGESTED

    In the upper right-hand corner of your Sage 50 Home Screen, there is a bell icon that is a list of messages Sage has sent you.  There should be one indicating an update is coming next week to correct the T4 box 57-60 problem when vacation pay is paid on every cheque.  I am not currently doing any semi-monthly payroll so I don't know if there is an issue specifically due to that payroll frequency.

  • 0 in reply to Richard S. Ridings

    Hi , 

    Thanks for reaching out, confirming that 's response here is accurate. Sage 50 CA licenses with the Payroll Sage Business Care plan add-on, as well as, our Sage Accountants Network members would have received an in product message (IPM) with the below details about the upcoming 2021.1.1 update next week.

    2021.1.1 PRODUCT UPDATE FOR PAYROLL USERS
    Starting January 19, 2021, you will be notified when you shut down your software that you have a product update ready to be installed. The 2021.1.1 update addresses a T4 reporting issue with respect to COVID-19 pay periods in 2021.1 which was released in December 2020.
    If you use Sage 50 to produce T4’s, and you paid out vacation to employees on pay cheques (if the option to retain vacation was not selected) during 2020, please download and install the 2021.1.1 update before generating T4’s for the 2020 tax year.
    If, however, you paid vacation pay when the option to retain was selected, you can produce your T4s as normal with the 2021.1 update and complete the 2021.1.1 product update at your convenience.
    For more information on whether you need to install the 2021.1.1 before producing T4’s, please consult this knowledgebase article.
    If you do not use Sage 50 for payroll, you can complete the 2021.1.1 product update at your convenience.

    __

    Warm Regards, 
    Erzsi

Reply
  • 0 in reply to Richard S. Ridings

    Hi , 

    Thanks for reaching out, confirming that 's response here is accurate. Sage 50 CA licenses with the Payroll Sage Business Care plan add-on, as well as, our Sage Accountants Network members would have received an in product message (IPM) with the below details about the upcoming 2021.1.1 update next week.

    2021.1.1 PRODUCT UPDATE FOR PAYROLL USERS
    Starting January 19, 2021, you will be notified when you shut down your software that you have a product update ready to be installed. The 2021.1.1 update addresses a T4 reporting issue with respect to COVID-19 pay periods in 2021.1 which was released in December 2020.
    If you use Sage 50 to produce T4’s, and you paid out vacation to employees on pay cheques (if the option to retain vacation was not selected) during 2020, please download and install the 2021.1.1 update before generating T4’s for the 2020 tax year.
    If, however, you paid vacation pay when the option to retain was selected, you can produce your T4s as normal with the 2021.1 update and complete the 2021.1.1 product update at your convenience.
    For more information on whether you need to install the 2021.1.1 before producing T4’s, please consult this knowledgebase article.
    If you do not use Sage 50 for payroll, you can complete the 2021.1.1 product update at your convenience.

    __

    Warm Regards, 
    Erzsi

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