Many of us have excess resources—time and personnel—during this unprecedented experience. Consider using this slowdown as an opportunity to accomplish some of the tasks and goals that are harder to make time for when business is running at full tilt. A couple of ideas are investing in employee training and updating your Sage 100cloud application to the latest version. Here we’ve pulled together some tips and resources to help your organization make optimal use of these uncertain times.
Free Training Through Sage University
To help your business and your employees through these trying times, Sage is offering access to select eLearning packages, certifications, and webinars at no charge through May 31, 2020. This is a great deal and one we encourage you to take advantage of. Peruse the free course listing and get learning!
Move to Version 2020
Consider using this time to bring your Sage 100cloud solution to the most current version, Sage 100cloud 2020. In another article, we highlighted five new features that are bound to streamline workflows and make your team more efficient. You can learn more about the 2020 release by attending a webinar on May 5 at 2:00 pm CDT – Register here
Payroll Changes to Keep in Mind
Sage has announced the availability of a program fix for Sage 100 Payroll 2.20.1 to comply with the requirements of the Families First Coronavirus Response Act (FFCRA) passed by Congress on March 19, 2020. This act, which includes the Emergency Paid Sick Leave Act and Emergency Family and Medical Leave Expansion Act took effect in the U.S. on April 1, 2020.
In response, three new earnings tax rules were added to the Sage 100 Payroll tax calculation service. The new Earning Tax Rules are:
- Tax Rule 800123, Emergency Paid Family and Medical Leave
- Tax Rule 800121, Emergency Paid Sick Leave – Self
- Tax Rule 800125, Emergency Paid Sick Leave – Others
Because these new emergency leave wages may need to be reported separately, the program will NOT group the wages and taxes into the standard Medicare and Social Security categories. Instead, they will be treated as Other Federal taxes. Sage considered this the best way to handle these changes in a timely manner and to ensure that businesses have the data needed for future reporting purposes. Twelve additional federal tax categories were added to support the Act as well.
Additional Resources at Your Disposal
Read more on the FFCRA topic in the Sage Knowledgebase.
View the US Department of Labor’s Website with additional information on the FFCRA requirements.
Read an article from our most recent MicroAccounting newsletter that details the FFCRA: Federal Law Alert: FFCRA Payroll Tax Credit- Easing the Burden for Employers
Here’s valuable information from one of our partners, Avalara, that details the changes that have been made regarding sales tax reliefs offered for different states, and links to articles/ websites by state: COVID-19 Tax Relief Roundup
Sage has assembled numerous resources that could be helpful to your business during these uncertain times.
Lastly, your MicroAccounting consulting team is standing by, ready to help—just email firstname.lastname@example.org or call 214.800.5500.