Change Payroll Benefit Field Name at Sage 50

Over 50% of companies in the US are moving to Sage Payroll & Accounting software to hassle out the daunting task of keeping payroll data updated. Besides, most of these organizations have realized the importance of outsourcing their payroll and accounting services to third-party providers as they have a skilled team of Sage 50 experts who can keep their payroll data up-to-date while maintaining the confidentiality of information.

Set Up Payroll Benefit Sage 50

Sage 50 technical support team further ensures that your organization stays compliant with local legislation while providing expert guidance concerning any technical queries. Such companies have a clear understanding of industry and domain knowledge. Their experts are conversant with the delicacy of processing payroll benefits and capable of promptly supporting pay queries.

Here is a Ways to Change the Payroll Benefit Field Name at Sage 50

So, how can you update or work changes on the payroll benefit field name at Sage 50? While you can manually set up this field in your system, it must be taken care of that each employee needs to work on payroll formulas while updating incomes depending on their variable hourly rates.

Ways I:

• Create an income or pay deduction field
• This can be done by selecting the “Set-up” option in the Sage Payroll software and clicking on “Settings”.

Next, follow the below process:

• Select Payroll -> Employee Name -> Incomes & Deductions.
• You can update the field (Income or Deduction) accordingly with the desired entry.
• Additionally, for the income field, a user can select the type of income, i.e., whether it is hourly based, differential (overtime hours, night shift pay, or income incurred for holiday hours), or piece rate (worked upon by calculating the items produced by an employee).
• Please note, that income primarily reflects the base pay rate for a regular period (monthly/weekly).
• On the other hand, a benefit signifies an additional value remunerated to an employee as an award for their work.
• Benefits need to be separately updated on Sage 50 Accounting & Payroll software to calculate taxes.

Ways II:

• Linking Sage 50 to Bank Accounts: For this, a user needs to connect the new income account of an employee on the system by selecting Linked Accounts -> Payroll -> Incomes and Benefits.
• Locate an employee’s income field in the system and click “Linked Accounts” and select an appropriate account.
• With the above steps, a user can change the payroll benefit field name at sage 50. However, he/she needs to further work on calculating deductions (based on the income and benefits accrued) and link the same to their new or existing accounts.
• Also, to avert confusion and save operational costs, an organization can opt for support for Sage 50 Payroll. This will also enable an organization to:
• Get prompt assistance concerning features and functionalities of Sage 50 Payroll & Accounting software
• The quick turnaround time to process payroll, in particular, for year-end salary processing
• Leverage knowledge of experienced Sage 50 support team.

We understand the importance of your confidential employee data and work hard to keep them intact in one place by using the expertise of our qualified Sage 50 experts. Besides, we can update detailed records of your employees (including employees’ personal information, payment details, vacation/sick leaves accrued, and tax codes) with absolute security. Call us to directly speak with the Sage 50 Chat Support team experts.

If you are still not sure about how to “Change Payroll Benefit Field Name at Sage 50” Payroll software. We offer a one-stop solution for Sage 50 customer support. Our team knows your accounting and payroll needs and works round the clock to assist you swiftly and promptly.