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Sage Abra Suite 9.2: Final Product Update

SAGE Abra Suite 9.2 is the final Product update

Sage Abra Suite 9.2 has arrived meaning Sage Abra Suite has reached end of life and will no longer be supported by Sage North America in 2021. There will be a limited legislative update in December 2020 but Sage Abra Suite 9.2 marks the last product version and the December 2020 update will only include legislative updates that pertain to 2020 payroll processing, tax filing, and reporting.  This means that you will not be able to receive updates, security fixes, tax, and legislative updates after December 2020.

The support center will remain accessible until December 28, 2020. After that date, Sage Abra Suite will no longer be supported and you will not be able to access the support center for assistance. 
Read on for the latest updates to the product and please contact us for additional information on alternative solutions and your migration options.

Payroll tax updates

There are state payroll tax updates for Idaho, Ohio & Pennsylvania in the latest release.

Payroll updates

VETS 4212 form
Dates on the top of the VETS-4212 form have been updated for 2020 reporting.

deferring U.S. Social Security tax withholding

Sage has reviewed the August 8 Executive Order and the subsequent guidance from the Treasury related to deferring social security tax withholding. Companies have the option to participate. Before your company decides whether to defer social security taxes, we recommend talking with your CPA or financial advisor.

If your company decides to defer these taxes, note that:

  • The deferral period is September 1, 2020 through December 31, 2020.
  • The deferred taxes must be paid back between January 1, 2021 and April 30, 2021.

To protect yourself and your employees if you implement this deferral:

  • Ensure your employees understand that they must pay back the deferred Social Security taxes
    between January 1 and April 30, 2021.
  • Decide how to pay back the deferred amount, such as by withholding twice the normal amount between January 1 and April 30, 2021 from employee paychecks.

NOTE: the repayment plan should cover all circumstances, such as when an employee leaves the
company or when an employee earns more or less during the repayment period.

See the document attachment in Sage Knowledgebase article 106692 for the suggested setup for an earning to accumulate the amount deferred for the employee as well as a deduction to handle repayment.

The changes for Form 941 released with the Q3 2020 update were based on the draft form from the Internal Revenue Service. They have now finalized Form 941 and did not make any changes. Form 941 is
ready for use. See the instructions from the IRS about how to report the deferred taxes.

Need assistance with next steps?

Contact us to discuss your options!

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