Sage 50 version 2022 updates – A closer look
Are you currently on Sage 50 version 2021 or older? Do you want to learn more about the updates in Sage 50 version 2022? If yes, you’re in the right place. In this article, we will take a closer look at what’s new in Sage 50 in version 2022.
If you’re looking for a more in-depth understanding of the pros and cons of updating to the latest version of Sage 50, please don’t hesitate to contact CTO Associates. We offer an initial complimentary consultation to all our clients. The free consultation gives us both a chance to see what it feels like to work together. Book your complimentary Sage 50 consultation here.
Now let’s get started.
The updates in Sage 50 version 2022 include:
- Remote Data Access resiliency
- Improvements to the 1099 forms
- Sage Bank Feed updates
- Paid Family Leave enhancement
| Features | Pro | Premium | Quantum |
| Remote Data Access resiliency | Yes | Yes | Yes |
| Bank feed updates | Yes | Yes | Yes |
| 1099 form updates | Yes | Yes | Yes |
| Paid family leave enhancement | Yes | Yes | Yes |
Let’s review these updates in greater detail below.
Remote Data Access resiliency
When you open your RDA company and notice that you are not connected to the internet, Sage will assist you by providing messaging to determine the best and most effective course of action. In the background, your Sage 50 software checks to make sure that you are connected to the internet and/or your Sage account is working.
If your internet connection is down, you will be prompted to restart your computer or check your router. Additionally, you will also have the option to view your transactions and reports in the last synced version of your company data using ‘Read Only’ mode.
In the instance that your internet is working but your Sage connection services are unavailable, you get an additional option to disconnect your company from Remote Data Access. This is a risky process especially if you have multiple users who access your Sage 50 system. The Sage 50 screen guide will list the consequences of disconnecting from RDA. Additionally, you can learn more about disconnecting your company from RDA in the Sage Knowledgebase.
Form 1099 updates
The IRS redesigned Form 1099-MISC for 2020 tax reporting. They also introduced Form 1099-NECC for reporting non-employee compensation. In Sage 50 version 2022, the settings and box designations have been updated to reflect the up-to-date 1099 default settings. The Vendor 1099 report and some other report filters have also been updated. Here are some of the changes that have been made in Sage 50 version 2022.
| 1099 Item | Release 2021 | Release 2022 |
| Non-employee compensation | 1099-MISC, Box 7 | 1099-NEC, Box 1 |
| $5,000 or more direct sales of consumer products | 1099-MISC, Box 9 | 1099-MISC, Box 7 |
| Crop insurance proceeds | 1099-MISC, Box 10 | 1099-MISC, Box 9 |
| Gross proceeds paid to an attorney | 1099-MISC, Box 14 | 1099-MISC, Box 10 |
The 1099 vendor report has also been updated to include references to 1099-NEC as well as updates and corrections to the 1099-MISC box designations.
Update to Sage Bank Feeds
When you access Sage Bank Feeds for the first time you will have to go through a migration process. If you’re upgrading from Sage 50 version 2021, the migration begins automatically. If you are upgrading from Sage 50 version 2020 or below, you will have to go through a complete cloud onboarding process before you can migrate your Sage Bank Feeds.
Paid Family Leave enhancement
Sage 50 has been updated to offer enhanced support for states which fund Paid Family Leave. These updates will allow you to assign the Paid Family Leave fields in Assign Tax Fields to employee-paid and/or company-paid state taxes.
They will also allow you to display the fields on the Tax Liability Report, Payroll Register, etc.
Visit the Sage Knowledgebase for more details on the Paid Family Leave enhancements in Sage 50 version 2022. For further questions about Sage 50 version 2022, or to schedule an upgrade to Sage 50 version 2022, contact CTO Associates today.
About CTO Associates
Whether you’re looking to restructure your accounting operations, resolve inventory issues, quit using MS Excel spreadsheets for reporting; find a replacement for your old accounting system, or upgrade to Sage 50 version 2022, we’d love to talk with you. Our team has combined experience of over fifty years in a wide variety of industries. At CTO Associates, we provide accounting and manufacturing software solutions to manufacturing, distribution, and service businesses. We provide Sage 50 support in MA, CT, NY, and across the US. We look forward to connecting with you soon.
Read more about CTO Associates here.