Sage 50 – Employment Income for Specific Period
CRA is adding the following codes for reporting employment income and retroactive payments due to the COVID-19 pandemic: 57, 58, 59, and 60.
In addition to reporting employment income in Box 14 or Code 71, employers can use these new information codes when reporting employment income and retroactive payments in the following periods:
- Box 57: Employment income – March 15 to May 9
- Box 58: Employment income – May 10 to July 4
- Box 59: Employment income – July 5 to August 29
- Box 60: Employment income – August 30 to September 26
Sage 50 customers are expected to update to the latest version (Sage 50 2021.1), to print and report their 2020 T4’s as the functionality for the new codes will likely not be added to the Sage 50 2020.3 tax table update. Sage is being pressured to also add this functionality to the 2020 version, however, they have not announced if and when they will be implementing this.
If you are unable to update Sage, or would prefer to manually run a report to find an employee’s income for a required period please follow the instructions below:
The Employee report lists each employee with detailed payroll information for the entire year to date or a specific date range.
To open this report navigate to Reports > Payroll > Employee…
- Select Detail for the report type,
- Select at least one, or all the employees you need to pull numbers for,
- Set a date range to match the dates required for the T4 box you need information for,
Box 57: March 15 to May 9
Box 58: May 10 to July 4
Box 59: July 5 to August 29
Box 60: August 30 to September 26
- Click Ok.