Sage 50 2020.1 Release Update

Sage 50 2020.1 Release Update

Sage 50 Accounting—Canadian Edition (Release 2020.1)

In this update, you will find all the product solutions related to Sage 50 accounting. (Release 2020.1).

Please note: All the below features that are talked about are included in all three subscriptions that are the pro, premium & quantum.

What’s new and product improvements

Improvements for Sage 50 cloud

Importing timesheets

If you are working on payroll and you track the working hours of an employee in a spreadsheet. That information about your employee can be easily imported along with other details on the payroll. Several necessary information includes salary, paid vacation, loans, and even Tippable Sales and Tips for Quebec, in addition to project allocation. You can use the given CSV template that eases out importing hours and information the first time.
CSV template shows the required and optional columns with the allowed field formats. Daily summaries or weekly summaries are included in the timesheet reports.

  • Easy access to cloud apps & services – access our cloud offerings with Sage 50cloud, with just a click which is available on the Apps & Services pane.
  • Payroll enhancements
  • Allocating income to projects new – you can now allocate salary-type incomes to projects based on hours.
    Printed T4 update you have given due to special demand, so now the employer address on the printed T4.

Improved user experience

The budget is now on by default for new companies asked and we listened! When you create a new company, the option Budget revenue and expense accounts are now on and the Budget period frequency is set to Monthly. One more way to access budgeting options is through Settings from the Setup menu.

Government compliance

Payroll tax updates for January [2], 2020

If the Helpdesk plan that you use or have has payroll tax updates. This will benefit you from timely and even comprehensive in-house payroll processing within Sage 50 Accounting. This will not only help you save your precious time but reduce the risk of payroll tax penalties at year-end.

Improved security

Database upgrades always have your company’s best interest in mind, especially the safety and security of your company data. Keeping this in view, we have brought an upgrade to the Sage 50 database to MySQL 5.7.27.

Resolved Issues

The following issues have been resolved:

  • (Pro Accounting and higher) There may arrive some cases when the Sage 50 would stop functioning when you try to add a logo in the Company Settings. Worry no more on this issue.
  • (Pro Accounting and higher) Sage 50 will now successfully print an invoice, and the invoice will include a long line description. You will also get an invoice even if the option Export CSV Files is on the Form Data Export tab which will be in the Reports and Forms window.
  • (Pro Accounting only) Convert a Sage 50 company file from Release 2019.1 and after that, you can use cash basis accounting.
  • (Pro Accounting and higher) The invoice which is denoting a purchase in which the payment is done by direct deposit is no longer missing the payment date.
  • (Pro Accounting and higher) If you allocate paychecks by amount, the Unallocated Project Amounts report no longer shows very minor unallocated amounts for Wages and Salaries, EI Expense, and CPP Expense.
  • (Premium Accounting & higher) Adding time slips to payroll will not in any way affect the hours of income fields that do not reflect on the time slip.
  • (Premium Accounting & higher)
  • Other than the primary location, if you use location for inventory and historical data, the new prices are calculated correctly.