Make A Report That Shows Deductions for Year at Sage 50

Make A Report That Shows Deductions For The Year At Sage 50

In this article, we are going to guide you step by step about how to create and make “Deductions for Year at Sage 50“.

Description – Sage 50 Yearly Deduction Report

Deductions are the amounts that you cut down every month from an employee’s salary, whether gross or net. These deductions vary from pension collections to any kind of loan that an employee has taken. Covering a wide range of deductions and creating a report on Sage 50 is a task about which not much information is available on the internet.

You can set-up the deductions within your payroll that you are going to use for a set of employees. That way, all of your deductions will appear within a single report.

Process to Setup and Creating Deductions for Year at Sage 50:

Follow these steps to set-up the Deductions:

  • Open the Setting Tab > click on Payment & Deduction Settings
  • Click on the Deduction Tab > now Create a New Deduction
  • Just when you create a new deduction, you will have to fill the following information:
    • A) Setup a deduction category by choosing the kind of deduction you want to set-up first. These options include:
      • Pensions: You charge these deductions from the salary account of your employee to setup a pension plan that is going to follow their retirement. These deductions come under a specific scheme, i.e. Standard Pension, Personal Retirement Savings Account etc.
      • Net Deductions: Following the Tax, PRSI Calculates and USC come the deductions known as Net Deductions, for example, a loan repayment deduction.
      • Gross Deductions: Unlike Net Deductions, Gross Deductions are charged before Tax, USC and PRSI calculates. These kind of payments are charged for the services provided to the employee, i.e. Transport Facility.
    • B) Now you are supposed to either name the new deduction while choosing it or to keep the default name. Note that the name is going to help you & the employee to recognize the deduction charged.
    • C) Provide the deduction category with a description to help you identify it in future.
    • D) Now enter your employee’s standard contribution (however, this option will only appear when if you have chosen Pension Deduction Category)
  • Now you will proceed with the Save

Now that you have created the Deductions in your Sage 50.

What follows next is How to Create a Report that shows all the Deductions for Year at Sage 50.

  • Now from the maintained Employees Window > select the specific Deduction from the list and assign it to the specific employee.
  • Repeat the same action to apply the deductions to the employees who are applicable.
  • Now, go to the option PR > Processing > Time Card Entry
  • Now, after selecting an Employee ID > select Earnings, where you will find the specific Deduction option in the drop down menu > select Deduction. 
  • Now, in Times Card Entry > select Deductions of the pays button> apply the deductions the employee is applicable for > Close.
  • Now, we will go again to the PR> Receipts > Payroll Register > select Preview. 
  • Now, a payroll register report will appear which will show the Deductions that were assigned on the paycheck.
  • Finally, We will click on PR for the one last time > Reports > Deduction Reports > Period Activity Reports. 

Here you can see the final deduction period activity report for the year.

The process of setting up report creating and deduction for Year at Sage 50. In case you are not satisfied with the solution provided above and need further assistance to set-up your Deduction report for the year on Sage 50, you can contact the Sage customer support by contacting the Sage Chat. They are a third party consultant providing Sage support internationally.

You can contact the technical support on this number +1800-986-6931 for a 24*7 technical support for Sage 50.

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