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Sage 100 Payroll version 2.20.3.0 Now Available

Sage 100 Payroll Version 2.20.3 Now Available!

Sage recently released Sage 100 Payroll version 2.20.3 which includes a new Quarterly Unemployment Report which has been added to the Payroll Reports menu.  You can include wage information for either federal unemployment tax, state unemployment tax, or both on this new report. 

The Sage 100 Payroll version 2.20.3 release also includes changes to support the recent Executive Order (signed on August 8, 2020) which provides an option for deferring employee Social Security tax. Sage is awaiting updates to the 941 form from the IRS.  If you are on Sage 100 Payroll version 2.x, you are allowed to process payroll for the next quarter without closing the current quarter.

What's New in Sage 100 Payroll version 2.20.3?

New Quarterly Unemployment Report

Sage Payroll version 2.20.3 includes a new Quarterly Unemployment Report.
 
  • This report has been added to the Payroll Reports menu.
  • Users can include wage information for either federal unemployment tax, state unemployment tax, or both on this new report.  

Employee Payroll Tax Deferral

The latest release also includes changes to support the recent Executive Order Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster (signed on August 8, 2020) which provides an option for deferring employee Social Security tax.

The IRS notice on the Executive Order Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster here.

Updates to IRS Form-941

On October 1st, the IRS released revised versions of the 941 form as well as instructions for the 941 and Schedule B forms.

Also on October 1st, Aatrix released the 941 form update (applicable to Sage 100).

Please install the Automatic Update when prompted in Federal and State Tax Reporting (see knowledgebase article: How to install, activate, update, and uninstall Federal and State Tax Reporting

Sage Knowledgebase Article

What does this mean for Sage 100 Payroll Users?

We understand this announcement may prompt questions and change for many clients. We want you to know that we are here to help guide and support you.  Because there will be more updates in the coming weeks/months, please visit the DSD Sage 100 Payroll Resources website for the latest updates and bookmark this page for future reference

Questions about Employee Payroll Tax Deferral?

As an employer, there may be accounting and legal considerations to take into consideration. We highly recommend talking with your CPA or financial advisor (and possibly your legal advisor) before deciding to defer payroll taxes, as the regulations are evolving.  Below are links for additional information on this Executive Order as well as considerations (benefits, costs, and risks). 

  • Read the Executive Order in full HERE
  • IRS Notice 2020-65 was released on August 25, 2020, providing guidance associated with the payroll tax deferral. See Notice HERE
  • AICPA article discussing employer and employee considerations HERE 
  • SHRM (Society for Human Resource Managers) article HERE
If you are interested in offering the tax deferral to your employees, please contact DSD for implementation assistance as there are new fields and steps to set this up and maintain the information.

We're here to help!

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