Sage have just released their Interim Release Download for Sage 100 ERP 2014.
The IRD is available for the following minimum versions:
• 4.50: PU 5 or last year’s (2013) year-end IRD installed
• 2013 PU 7
• 2014 PU 3
If you are not on one of the above minimum levels then youll need to upgrade in order to take advantage of the year end IRD.
Heres Whats New:
IMPORTANT TAX INFORMATION: 1099 Form changes were required for the tax year 2014 and have been incorporated in this update. Maintenance, data entry, as well as certain reports and Form 1099 eFiling and Reporting have been modified to adhere to the 2014 1099 Miscellaneous, Dividend, and Interest forms as published by the IRS for the tax year 2014 filings.
Once the 2014 IRD is installed, the new 2014 boxes will be available for all companies in the installation. The following changes have been made to accommodate the correct placement of the following information:
o Box 10 is now Market Discount
o Box 11 is now Bond Premium
o Box 12 is now Tax-exempt bond CUSIP no.
o Box 13 is now State
o Box 14 is State identification no.
o Box 15 is State tax withheld
o Box 11 Foreign tax paid has been removed
o Box 12 Foreign country or U.S. possession has been removed
o No form changes were required
Note: If these boxes were previously created (in the SY_1099Setup file) using the SY_1099Maint_UI utility, this IRD will overwrite those records in SY_1099Setup, but will not affect any paid-to-date dollar amounts already stored for the tax year 2014 in the data file AP_1099VendorPayments. Note if the new boxes were manually created using the utility, prior to installing the 2014 IRD, the user should use the SY_1099Maint_UI utility to verify that the boxes were created correctly as a text or non-text field (Text Field) in the Form 1099 Box Maintenance window, and make corrections as necessary.
• Form 1099 eFiling and Reporting version has been updated to 2.47
• The prompt to update Default 1099 Calendar Year in Accounts Payable Options will now display when exiting Form 1099 eFiling and Reporting task
The 2014 IRD contains the following enhancements for Payroll:
• There were no W-2 form changes for 2014
• The Federal and State eFiling and Reporting version has been updated to 2.47
• New Localities for Ohio have been added in Tax Table Maintenance locality description listing
• Other Local Tax amount will now populate in Box 14 of the W2 form, when a Local Tax Code is setup with both a Local Withholding Tax and Other Local Tax. (Defect 103288)
Affordable Care Act (ACA) Reporting Requirements beginning Tax Year 2015:
To help determine if you qualify as an Applicable Large Employer (ALE) you MUST select to Retain Perpetual History in Payroll Options if not already selected before processing your first payroll in 2015.
1. Open Payroll, Setup, Payroll Options
2. On the Main tab, select Retain Perpetual History
3. Click Accept
Note: The Retain Perpetual History option must be selected for each of your companies.
Please make sure the appropriate person in your company is aware of this very important information.