Employees > Paying Your Employees > Set Up Payroll Defaults and Standard Payroll Fields > Payroll Setup Wizard - Overview

Payroll Setup Wizard - Overview

Related topics

Continue setting up payroll

Learn about payroll fields

Set up other employee defaults

Set up an employee

Perform other payroll tasks

The Payroll Setup wizard walks you through setting up most payroll defaults and standard payroll fields. As you answer the prompts in the wizard, Sage 50 will create for you most of the common payroll fields used in calculating deductions and taxes. For example, you are asked what the unemployment percentage for your company is. Based on the percentage you enter, Sage 50 creates the state unemployment insurance (SUI) employer tax field and calculation formula that applies to it.

Note: You must subscribe to a Sage Business Care plan for payroll taxes and other deductions to be calculated within Sage 50. If you don't subscribe, you have to manually calculate and enter the amounts for payroll taxes and other deductions.

The Sage 50 Payroll Setup wizard establishes the following:

State and locality defaults
State unemployment percentage and limit
Common federal and state payroll fields for employee-paid and company-paid taxes
General ledger account defaults for payroll fields
Optional payroll fields for employee tips and meals
Optional payroll fields for employee and employer contributions to retirement plans (401K, 403(b), etc.), insurance plans, and flexible spending accounts
Optional payroll fields for employee vacation and sick time

Not Ready Yet?

When you are first setting up a company, however, you might not have all the information available to set up payroll. If you are not prepared to enter benefit information or are not sure of certain payroll setup options, you don't have to work all the way through the Payroll Setup wizard. Instead, you can click the Save for Later button on any window in the wizard and then return to it to at a later time to complete payroll setup.