As the coronavirus crisis continues, your company may be looking for resources that inform you about aid you are eligible for and how to handle payroll, taxes, and reporting. You may also be wondering about general availability for coronavirus assistance with Sage 100.
To help, SWK Technologies has compiled this list of handy resources that you can use with your Sage 100 or Sage 100cloud solution.
Note that these resources should not be used as a substitute for advice from a licensed accountant. Please consult with your accountant for answers to specific tax questions.
Resources for Coronavirus Assistance with Sage 100
COVID-19 has brought sudden, surprising changes to nearly every aspect of the American workplace. In response, Sage and the SWK Technologies team have created a wealth of 100% free resources that will help you maintain business confidence while navigating this strange situation.
As you would suspect, the biggest resource for coronavirus assistance with Sage 100 is within the Sage 100 software itself.
On April 3, 2020, Sage deployed a Payroll Tax Update, which included three new earnings tax rules added to the Sage 100 Payroll tax calculation service.
To comply with the Families First Coronavirus Relief Act (FFCRA), your Sage 100 system now offers:
- Tax Rule – 800123, Emergency Paid Family & Medical Leave
- Tax Rule – 800121, Emergency Paid Sick Leave – Self
- Tax Rule – 800125, Emergency Paid Sick Leave – Others
In addition, Sage has also unbundled Medicare and Social Security taxes from other federal taxes, as these are specifically impacted by the coronavirus relief packages.
Sage has also simplified the reporting process for loans granted under the CARES Act Paycheck Protection Program (PPP), which may be forgivable with adequate documentation.
Adequate documentation for the PPP may include IRS forms 940, 941, or 944 Payroll Tax reports, as well as W2s. To help with the reporting and documentation process, Sage has released a step-by-step guide to printing the key reporting data you will need.
In the wings…
Just this week, the IRS granted flexibility to companies wishing to offer health plan and FSA changes to employees. Please contact SWK Technologies to learn more about potential changes to your Sage 100 or Sage 100cloud system resulting from that ruling.
Resources for Generalized Coronavirus Assistance with Sage 100cloud and Sage 100
In addition to specific tax and payroll updates, Sage and SWK Tech are working hard to get you the information you need about all the COVID-related topics that matter to you.
New resources will be released regularly as the pandemic disruption continues – please feel free to request a topic that you would like to learn more about.
Currently available free resources include:
- The Business Survival Guide eBook
- In-depth Sage 100 eLearning courses ($2,950 value)
- Aid eligibility questionnaire
- COVID legislation summaries
- Digital PPE management webinar
- CARES Act and FFCRA Basics webinars
- How to cybersecure your remote workforce webinar
- COVID future scenario planning webinars (see “Recordings and Resources” section)
- Recession-proofing through spend management webinar
- Fraud protection webinar
- Proactive control of your operational spend webinar
- Must-have software solutions for WFH webinar
- COVID skillsets webinar
- Remote workforce management tips for HR webinar
If you are looking for additional webinars and other resources for coronavirus or other assistance with Sage 100, please visit our events page.
Get the Business Survival Guide eBook
Arguably, one of the most handy resources on that extensive list is the Business Survival Guide eBook.
The eBook delivers the one-stop resource tool you need to stay productive and resilient during and after disruptive situations.
What you will learn from the eBook:
- Tips for working remotely successfully
- Specific tips for your HR, Finance, and IT departments
- A comparison of on-premises vs. cloud software for WFH situations
- A breakdown of critical Sage 100 tools for remote work
- Remote management tactics that keep your team on track
- Top cybersecurity focus areas for WFH and remote teams
- Business continuity options that protect your data
- Where to find a large selection of additional resources
Of course, as soon as you have questions, remember that the SWK Technologies Sage 100 expert team is standing by.