July 2015 Payroll Tax Update - NOW AVAILABLE

The payroll tax update for July 2015 is now available for download from the Sage Knowledge Base. This update is for Sage BusinessVision 2015 and Sage BusinessVision 2014.

The July 2015 tax update contains modifications to payroll tax tables and calculations that are used by Sage BusinessVision. These modifications reflect the income tax changes announced by the Canada Revenue Agency (CRA) that are effective July 1, 2015. To find out more about all the tax changes please contact your tax consultant or government tax offices. You can also visit the CRA Web site. http://www.cra-arc.gc.ca.

If you have questions regarding the status of your Payroll Update Plan, please contact Sage Customer Care at 866.725-0724option 1. If you require assistance with installing the update, please contact Sage Customer Support:

Chat: Chat Now
Sage City: Sage BusinessVision Community
Email: [email protected]
Tel: 800.215.5395

How to Download the Tax Update

1. Navigate to the Sage Knowledgebase located at https://support.na.sage.com

2. Click Login and login with your username and password.

3. Select Sage BusinessVision from the list of products.

4. Click Download software

5. Below the Tax Updates category, click the "Download July 2015 Payroll Tax Update for Sage BusinessVision 2015 and... " link.


 

6. When the article open, scroll to the bottom and click Download Now or Direct Download to begin the download process.

NOTE:  There is one single file to download that may be installed on either Sage BusinessVision 2014 or 2015.


How to update your payroll tables

Please note, upon installation of this update you will be prompted for a password,. If you did not received an email with the password, please contact Sage Customer Care at 866.725-0724option 1 or email us: [email protected]

Although the update does not affect your data files, we strongly suggest that you make a back-up copy of your data files regularly and before any updates for your protection. Network users should ensure they are the only users on the system when performing this update or while making back-ups. You can verify that the Sage BusinessVision Payroll Update has been implemented by reading the tax table date available in System Info. From the “Help” menu, choose “About Sage BusinessVision” and then click on the “System Info” button. The Payroll “Tables” date should be “Jul-2015”.

1. Make a complete back-up of all data files.

2. Once you have downloaded the payroll tax update (payrollv7.75.zip), extract the content of that file to a temporary folder.

3. Once extracted you will find two files, Payroll V7.75.exe , this is the payroll tax table update and a readme.pdf containing information regarding the update. 

4. Double click Payroll V7.75.exe to initiate the update process.

5. When prompted, enter the password and click the “Next” button to continue.

6. At the Welcome dialog, click the “Next” button, and then click the “Yes” button to make changes to the Sage BusinessVision program directory. The update will run automatically and will only take a few minutes.

7. Click the “OK” button to confirm that the installation is complete. If you are prompted to reboot your computer, do so before running Sage BusinessVision.

8. Sign into Sage BusinessVision and from the “Help” menu, choose “About Sage BusinessVision” and then click the “System Info” button. The Payroll “Tables” date should be “Jul-2015”.

Note: This update must be performed on all workstations running Sage BusinessVision.

 

Frequently Asked Questions Regarding Payroll

Q. When should I install my Payroll Update?
A. Before your first payroll run in July 2015, even though you may be paying employees for time worked in June 2015.

Q. What should I do if I didn't get the update installed before the first pay period in July 2015?
A. Install the update before the second pay period in July or as soon as possible. Take no other action – any discrepancies will be straightened out when your employees file their 2015 tax return.

Q. I sometimes notice differences between the taxes calculated by Sage BusinessVision and the taxes I calculate using the manual tax tables. Why is this, and which figure is correct?
A. The Sage BusinessVision calculations are correct because they use exact formulas outlined in the tax laws, and published in CRA Publication T4127 101st 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.

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