Each year the Federal payroll tax table updates are issued, usually in early January. For all the software companies, this means providing a software update with the new tables, and this year is no different. Sage has announced that these tables will be available for version 19 users (19.8), and version 20 users (20.4). Do NOT change versions right now!
If you’re on Sage 100 Contractor version 19.x, stay on that version as you close your payroll year, update to version 19.8, and move into Quarter 1 of 2017. The upgrade to version 20 is significant, unlike previous upgrades over the life of this product, and takes some planning. Check out our blogs, video blogs, and newsletters for more details, but stay on version 19. If you’re already on version 20 (newer users for the most part), install the update with the new tax tables following the same timing as indicated here.
AFTER your last payroll check dated December 2016, you can install the update. A reminder that you need everyone out of the program, and Exclusive Access to make your backup and re-index all datasets, so plan ahead for these two guidelines.
In a perfect world, you can install the update right after your last check of December, but this is not very realistic for most of our clients. There are holiday vacations, short weeks, many thing to do at the end of the month and end of the year, and sometimes, there just aren’t enough hours in the day. Target installing the update sometime in January and you’ll be fine. The guideline is that you apply the new Federal tables (and States are not listed on this update) in a reasonable amount of time, and sometime in the month of January definitely qualifies.
WARNING: As the States provide their information, there will be more updates. If you want to avoid multiple update interruptions, target late January and be sure to use the latest release available at that time.
Let Us Help
Still worried? The Sage update announced that the only changes for version 19.8 are to the Canadian Payroll tax tables and Canadian Provincial tax changes effective January 1, 2017, the U.S. Federal tax tables, two new Offer of Coverage codes for Form 1095-C for the 2017 reporting year (ACA reporting), and a 2017 required report for Oregon. This is important, but don’t fret over it. Call the office if you need help or want to talk through some specific circumstances. You know where to find us – 630-850-9039. Remember, we love this stuff!