Setup Payroll Module in Sage

No wonder why Sage 50 is widely popular these days, both among the business owners and accounting professionals. With an unmatched spectrum of useful tools and functions, it has been making sustained efforts to fulfill the accounting needs of its users. The Sage Payroll Module is one such functionality embedded in this accounting software.

You may have experienced that payroll processing has become increasingly complex these days. Paying the employees accurately and timely and keeping a proper track of the complex payroll activities has been quite a challenge for the employers, to say the least. But the Sage Payroll Module has been designed to make life easier for you.

If you are yet to set the Sage 50 Payroll Module and are not aware of how it can help you, you are definitely missing something! But, you do not need to bother at all! All you need to do is to go through this blog. Here, we will tell you how to set up the Payroll module in Sage 50 on your system. Simply implement the steps mentioned in this blog and enjoy the incredible payroll features in Sage 50.

Here we go!

Read Also-: CPP Amount is Not Calculating in Sage 50

How to Setup Payroll Module in Sage 50?

Please follow the steps shown below-

• Open Sage 50
• Select Setup
• Navigate to Settings
• Go to Payroll
• Click on Linked Accounts.
• Now, verify if there exists an account for each of the fields , in every subsection (Taxes, Incomes, Deductions, etc.)
• Click OK to proceed
• Select Setup
• Go to Settings
• Click on Payroll
• Then go to Incomes
• Check if each income is set up properly for taxes.
• If you want to calculate vacations properly, specify a liability account in the Vac. Owed section
• Now go to Deductions and check if the deductions used are setup properly.
• Select Taxes
• Enter the correct percentage rates for each of the additional taxes.
• Select OK.

How to Create a New Payroll Income in Sage 50?

Please follow the steps shown below-

• Open Sage 50
• Select Setup
• Then go to Settings
• Click on Payroll
• Navigate to Income
• Change the name of the next available In come to the income you want to create.
• If required, you may change the income type and also specify the taxes columns, as appropriate
• Click on Linked Accounts
• Go to Payroll
• Navigate to Income
• Go to the New Income column. You will have to link the new income to your Wages account.
• Open the Employee Record,
• In the Use column, specify the appropriate rate for the new Income.

Final Words

We hope the steps mentioned above would help you set up the Payroll module and create a new Sage 50 on your system. If you are experiencing any difficulties in carrying out the above-mentioned steps, we would recommend you to take help from the authorized Sage experts.

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