Sage 300 Payroll supports statutory payroll taxes such as federal, provincial and territorial income taxes, CPP, QPP, employment insurance premiums, and certain provincial health and education taxes.
The payroll program calculates these taxes by using system-installed tax tables. If you subscribe to the maintenance and support plan for payroll, you receive tax updates when authorities revise tax structures or rates. Tax updates are typically delivered twice a year and available for download from the Customer Support and Knowledgebase center at https://support.na.sage.com.
You can see a list of tax tables supported by Sage 300 Payroll when you click the button at the bottom of the Income Taxes setup window .
Tabs on the Income Taxes Window
The Income Taxes window has the following tabs:
- Basic Info. Used to add taxes, including income taxes, CPP, QPP, employment insurance premiums, and certain provincial health and education taxes. You can define up to five employment insurance premiums for the employer. If you have applied for and received a premium reduction, set up an EI tax at the approved rate and assign this EI tax to the employees covered by your approved wage-loss replacement plan.
- Calc Base.. Used to determine which earnings, deductions, and other taxes to include in calculation of the tax.
- G/L Dist. Used to enter general ledger distribution account sets. You can then choose among the account sets when you assign taxes to employees and when you enter timecards
- Optional Fields. Used to include additional information about the tax
Using the Income Taxes Window
On this window, you can set up the federal and provincial taxes before assigning them to your company’s employees. You configure each tax only once, during setup; you do not need to repeat the procedure after installing tax updates.
You can use this window to:
- Configure (add) new income taxes. After you configure all the federal and provincial taxes you need to process your company’s payroll, you will return to this window to make modifications and to delete taxes you no longer need.
- Edit or delete existing income taxes. The changes you make on the Income Taxes window will become the default information for future (new) employees only — the tax information already assigned on existing employee records will not reflect the changes.