We have a couple of time-sensitive updates to share with you, so here we go!
Medicare – high-wage earners including owners and sales teams may have additional Medicare deductions once they hit over $200K in wages. This is an additional 0.9% deduction after they hit the ceiling, plus the regular 1.45% deduction. This is NOT matched by the employer, though. Be sure to pay the right total for your 941 payments. When entering CPA-specific adjustments, be sure the CPA has also considered these limits. The limit differs based on marital status, BTW.
Don’t Upgrade Sage 100 Contractor if you’re in our hosted Azure environment! There are several steps when it comes to these cloud-based servers. Give us a call to schedule the upgrade (need everyone out of the program for about an hour). It’s included in your monthly hosting fee, so when you’re ready, let us know; that way you’ll have a successful upgrade!
We’ve seen a growing number of requests to restore deleted records in Sage 100 Contractor. Did you know you can remove Delete rights for user security groups? It’s a great way to protect your data and still make sure people can do their job. There are very FEW situations where data should be deleted in S100C, anyway.
Cleaning up AP and AR or other records? Many clients are gathering reports and information to share with the CPA so they can get started on the tax returns. If you have old items (from a prior year), please don’t VOID those records! They’re part of the prior year’s completed tax year, and if you void them, you just change the prior year’s numbers! We recommend that you create a REVERSE record to clean these up. Need help? Let us know! – CMW