By: Darrell Scott
The Affordable Care Act (ACA) has reporting requirements beginning in Tax Year 2015 that you must be ready for BEFORE you run your first payroll in 2015.
If your company isnot big enough to have to comply with the new reporting, you can skip the rest of this post…BUT please make sure you do not meet the requirements before you stop reading. You can get information on what employers are subject to the ACA Shared Responsibility Provisions at an IRS website, here . The simple answer is if you have 50 or more FTEs, you are subject to these provisions. The criteria is more complicated than that, so review the rules and determine for yourself if you meet the criteria.
Another complication…the IRS has not issued final regulations/forms on the ACA reporting requirements.
Sage will release product updates for Payroll in March or April 2015 after the regs are published.
There are two things YOU MUST DO if you are using SAGE 100 ERP payroll (or MAS 90 or MAS 200 payroll) so that these updates will work when they are released.
- 1) BEFORE YOU RUN YOUR FIRST PAYROLL in 2015, make sure you
have “Retain Perpetual Payroll History” turned on for ALL COMPANIES where you run
payroll. The updates will use data collected throughout the year. If
you are not saving the history, the programs will not have the data necessary to
make the calculations and prepare the reports.
- 2) The updates will only be released on the currently supported
versions of SAGE 100 ERP, that is, the current version and two versions back.
So, if you are not on one of these three versions, you must upgrade to one of these versions before the 2015 ACA update can be installed.
The versions for which the update will be available are:
- a. SAGE 100 ERP v2014
- b. SAGE 100 ERP v2013
- c. SAGE 100 ERP v4.5
More information can be found at the Sage City Year End Center .