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How do I Create a New Payroll Income or Deduction in Sage?

    Deduction in Sage

    If you are an employer, you will surely agree to the fact that payroll processing has become an increasingly complex affair these days. Tax tables and other related rules get revised too frequently and this may take a heavy toll on the employers. As you may have experienced in recent times, paying the employees timely and accurately has been no less than a daunting task, to say the least.

    But, you may have a sigh of relief, if you have Sage 50 by your side. This premier accounting software has embedded quite a few interesting functions and useful tools to make life much easier for the employers. It has incorporated a highly sophisticated payroll module, with the help of which, you can streamline all your payroll processing with effortless ease.

    Read Also-: Sage 50 2022 Crashes when Exit Out of Maintain Employee Window

    If you have not yet used the Sage 50 payrollmodule, you are losing out on something really important ! You do not need to think too much though! We are here to assist you. Simply go through this blog till the end. Here, we will tell you how to create a new payroll income and payroll deduction in Sage 50 on your system. Just perform the steps mentioned here sequentially and enjoy the incredible payroll features in Sage 50.

    Let’s create your first payroll income in Sage 50 then…

    What is the Procedure to Create a New Payroll Income in Sage 50?

    Here is a step-by-step procedure to create a new payroll income-

    • Open Sage 50
    • Click onSetup
    • Navigate to Settings
    • Click on the Payroll tab
    • Navigate to the Income section
    • Now, change the name of the next availableIncomewith the income you wish to create.
    • If needed, you may also change the income type
    • Specify the taxes columns, if required
    • Click on the Linked Accounts tab
    • Now click on Payroll again
    • Navigate toIncome
    • Click on the New Income column. Now you need to link the new income you created to your Wages account.
    • Open the relevant Employee Record
    • Click theUsecolumn. Here, you need to specify the specified rate for the new Income.

    What is the Procedure to Create a New Payroll Deduction?

    Here is a step-by-step procedure to create a new payroll deduction in Sage 50-

    • Open Sage 50
    • Click onSetup
    • Navigate to Settings
    • Click on the Payroll tab
    • Navigate to the Deductions section
    • Now, change the name of the next availabledeductionwith the particular deduction you wish to create.
    • If appropriate, you may also change the deduction type (either percentage of gross or amount), by clicking on the Deduct By Column
    • You will have the option to apply the deduction after or before the taxes are applied, as deemed fit to you
    • Now selectSetup again
    • Then click on Settings
    • Click on the Payroll tab
    • Go to thelinked accounts section
    • Click on PayrollDeductions. You will find the new deduction in the relevant column below. You will need to link it to your designated Payables or Expense account.
    • Open the relevant Employee Record
    • Then go to theUsecolumn adjacent to the New Deduction tab and also the suitable deduction rate.

    How to Setup Payroll DeductionsVideo Tutorial

    Final Words :

    We hope the steps mentioned above would help you create a new payroll income and payroll deduction in Sage 50 on your computer. If you are finding it difficult to carry out these steps or if you want to know more about the Sage 50 Payroll Module, we would recommend you to speak to some of the authorized Sage experts.


    👉Frequently Asked Questions

    Q 1. What are the Prerequisites before I Proceed to Install the Sage 50 2022 Payroll Tax Updates  through Automatic Updates?

    Ans : Installing the Sage 50 2022 payroll tax updates through automatic updates is fairly simple. However, before initiating the installation process, you need to consider  the following points –

    ▪ Ensure that you take a proper backup of all the important company data
    ▪ Note down the precise location of your existing payroll data
    ▪ Select a suitable location in your computer to save the payroll tax updates

    Q 2. How can I Manually Install the Payroll Tax Updates in Sage 50 2022?

    Ans : Please follow the steps given below-

    ▪ Open the Sage 50 2022 software
    ▪ Go to the Reports And Forms  section
    ▪ Click on the  Forms  tab
    ▪ Select  Tax Forms
    ▪ Now Open the  Payroll Tax Forms  tab
    ▪ Open your preferred tax form 
    ▪ A prompt will ask you to install the tax updates
    ▪ Now click on the  Download Updates  tab
    ▪ After the download process is complete, click on  Run Update 
    ▪ The installation of the Sage 50 2022 payroll tax forms will start
    ▪ You will be asked if you wish to overwrite all the existing files. Click Yes to All  to proceed
    ▪ Follow the  on-screen instructions to complete the installation 

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