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

Sage for Accountants integration

Connect and access Sage 50 clients in one place

You 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

Vendor and employee payments

When 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

Temporary Relevé 1 (RL-1.T) slip

You 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

Dental benefits

The 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) contributions

The 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) contributions

Like 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

New features and product enhancements
 

Pro

Premium

Quantum

Accountant Edition

Enhancements for Sage HR

Tax documents

If 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

Dental benefits

In 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 calculations

When 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 changes

Like 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

Payroll tax updates for January 1, 2024

If 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

Sage 50 Accounting—Canadian Edition
(Release 2024.0)

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

New features and product enhancements
 

Pro

Premium

Quantum

Accountant Edition

Enhancements for payroll

 

Track and manage your payroll expenses and obligations

With 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

 

Yes

Yes

Yes

Simplified and automated work flows for people managers

Connect 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