Printing 2020 T4's

SOLVED

I downloaded the latest version 2021.1. It now supports printing the new 2020 T4 with boxes 57-59 with an automatic calculation. Thank You! However, the calculation appears incorrect. The box 57 and 58 amounts do  not include vacation pay paid during the period. (with an employee who has vacation pay paid each payroll period).

I cannot find a reference from CRA saying to exclude vacation pay?

Your thoughts?

  • 0

    I hope the fix will come soon. CRA says include Vacation Pay as long as it incurred in the CEWS period.

  • 0

    I hope the fix will come soon. CRA says include Vacation Pay as long as it incurred in the CEWS period.

  • 0

     Vacation should be included in this calculation on the T4s. When can we expect this fix?

  • 0
    verified answer

    We have discovered an issue with COVID-19 reporting and T4s in the 2021.1 update for employees that you paid vacation pay when vacation pay was not retained. To correct this issue, we will be releasing another product update at the end of January.

    • If you paid vacation pay when vacation was retained for all employees, you can produce your T4s as normal.
    • If you paid vacation pay when vacation was not retained for some employees, please wait until you have installed the new product update before producing your T4s.

    Note: You should still install 2021.1 and use it to process your payroll at the beginning of the payroll tax year to ensure that payroll calculations are accurate. 

  • 0 in reply to KathleenF

    any idea when the fix is expected? 

  • 0 in reply to judyl

    The notice that was send out to all registered users indicated the end of January. It takes time to make  the changes.

  • 0 in reply to Alwyn

    a notice was sent out? i didnt get anything. Just happened to double check the amounts and realized they were wrong.  Im sure lots of people will go ahead and send them in thinking that SAGE has it all figured out.  Hope they get the fix before the end of January 

  • 0 in reply to judyl

    Important information about your Sage 50 Accounting 2021.1 product update

    December 23, 2020

     

    Sage 50—Canadian Edition

    2021.1 Update known issue

    If you paid out vacation to employees on every pay cheque (if the option to retain vacation was not selected), please wait to produce your T4's using Sage 50. We have discovered an issue with the COVID-19 reporting fields on the 2020 T4 in the 2021.1 update. To correct this issue, we will be releasing another product update at the end of January. We will be in contact in the coming weeks to update you further.

    If, however you paid vacation pay when the option to retain was selected, you can produce your T4s as normal without waiting for the update.

    Note: You should still install 2021.1 and use it to process your payroll at the beginning of the payroll tax year to ensure that payroll calculations are accurate.

    For assistance with this issue, please contact our team via web chat (it is available from within your product on the menu bar, or, under the Help option) who are ready and waiting to take your inquiry 9am to 8pm ET.

    Sincerely,

    Your Sage 50cloud Support and Service Team

     

     

  • 0

    Is there a way to override and edit these amounts?  My Simply will expire Jan 12 so I want to have all reports completed before then.

    Thank you

    Diane

  • 0 in reply to GammaDi

    Until the update is installed i am not aware of what can or cannot be over-ridden in the T4 print program. In the past the amounts in the various fields have not been available for editing.