Sage 50 Accounting—Canadian Edition
(Release 2024.2)
This product update covers all product solutions of Sage 50 Accounting (Release 2024.2) and includes the updates from previous releases.
What's new and product improvements
Pro |
Premium |
Quantum |
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Sage for Accountants integration |
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Connect and access Sage 50 clients in one placeYou can add your Sage 50 clients and a link to their company files to Sage for Accountants. Complete the 4 steps to view all your clients in one place. |
Yes |
Yes |
Yes |
Compliance enhancements for payments |
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Vendor and employee paymentsWhen sending payments by Direct Deposit with Worldline, the vendor and employee records will now include the payee name and mailing address as required by FINTRAC reporting requirements. |
Yes | Yes | Yes |
Filing Temporary Relevé 1 slips |
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Temporary Relevé 1 (RL-1.T) slipYou are now able to file RL-1.T slips for the year 2024 for employees residing in Quebec.1 |
Yes | Yes | Yes |
Enhancements for reports |
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Dental benefitsThe employee summary report now shows data for employees who have dental insurance and/or a T4 employment code. The dental insurance appears in box 45 on the T4 slips. The T4 employment code appears in box 29 on the T4 slips.2 |
Yes |
Yes |
Yes |
Canadian Pension Plan (CPP2) contributionsThe Year End Review (PIER) report now shows CPP2 contributions information. Any discrepancies between reported and calculated amounts for an employee are listed in the report notes.3 |
Yes | Yes | Yes |
Quebec Pension Plan (QPP2) contributionsLike the changes made to CPP2, The Year End Review (PIER) report now shows QPP2 contributions information. Any discrepancies between reported and calculated amounts for an employee are listed in the report notes.4 |
Yes | Yes | Yes |
Sage 50 Accounting—Canadian Edition
(Release 2024.1)
This product update covers all product solutions of Sage 50 Accounting (Release 2024.1) and includes the updates from previous releases.
What's new and product improvements
Pro |
Premium |
Quantum |
Accountant Edition | |
---|---|---|---|---|
Enhancements for Sage HR |
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Tax documentsIf you have synced your employees with Sage HR, you can now upload T4 or RL-1 slips for tax season. Employees can access these documents at their discretion.5 |
Contact your Sage 50 Account Manager to learn more. |
Yes | ||
Enhancements for payroll |
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Dental benefitsIn accordance with the Dental Care Measures Act, you can now indicate in their employee or vendor record if individuals have dental benefits and who is covered. This information is reported in T4 and T4A tax slips.6 |
Yes |
Yes |
Yes |
Yes |
Additional CPP calculationsWhen creating paycheques or running payroll, you can now see separate calculations for the Canadian Pension Plan (CPP) contributions and the additional Canadian Pension Plan (CPP2) contributions. These changes appear in the Employee Records window. CPP amounts in remittance payments and reports include both CPP and CPP2.7 |
Yes |
Yes |
Yes |
Yes |
Additional QPP calculations and age-related changesLike the changes made for CPP2, you can now see separate calculations for the Quebec Pension Plan (QPP) contributions and the additional Quebec Pension Plan (QPP2) contributions. These changes are reflected in the Employee Records window. QPP amounts in remittance payments and reports include both QPP and QPP2. When an employee turns 72, they will stop contributing to the QPP as of January 1 in the following calendar year.8 |
Yes |
Yes |
Yes |
Yes |
Government compliance |
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Payroll tax updates for January 1, 2024If you have a support plan that includes payroll tax updates, you benefit from timely and comprehensive in-house payroll processing within Sage 50 Accounting to help you save time and reduce the risk of payroll tax penalties at year-end.9 |
Yes |
Yes |
Yes |
Yes |
This product update covers all product solutions of Sage 50 Accounting (Release 2024.0) and includes the updates from previous releases.
What's new and product improvements
Pro |
Premium |
Quantum |
Accountant Edition |
|
---|---|---|---|---|
Enhancements for payroll |
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Track and manage your payroll expenses and obligationsWith an increased number of incomes and deductions as well as deduction types in payroll settings, Sage 50 gives you the flexibility to process payroll confidently.10Learn about setting up payroll incomes and deductions |
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Yes |
Yes |
Yes |
Simplified and automated work flows for people managersConnect Sage HR to deliver tools your employees use to access their payslips and manage their information whenever, wherever they are. Free your time by skipping manual HR tasks while also keeping employee records organized and secure.11 |
Contact your Sage 50 Account Manager to learn more. |
Yes |