What's New in Sage 300 2021, Product Update 2

General improvements

This product update includes the following new features and improvements in both Sage 300cloud web screens and Sage 300 classic desktop screens:

• Updated 1099 tax reporting. For tax year 2020, Nonemployee Compensation is reported in box 1 on a new 1099-NEC form (instead of box 7 on the 1099-MISC form where it was reported previously). On the A/P Print 1099/1096 Forms screen, you can now print to the new 1099-NEC form, as well as updated versions of the 1099-MISC and 1096 forms.
• Improved 1099/CPRS codes. 1099/CPRS codes no longer correspond to specific box numbers on forms, because these box numbers may change from year to year (which has happened with several boxes in tax year 2020, including the change to Nonemployee Compensation discussed above).
• Instead of using the code as an indication of the box number where amounts should be reported, for each code you now specify a type of payment (or other amount) to be reported on 1099/CPRS forms. When you print a form for a specific tax year, amounts are automatically printed in the correct boxes for that year.
• To continue using your existing 1099/CPRS codes, update each of them by specifying a tax reporting type (1099 or CPRS) and an amount type. Also, consider creating 1099/CPRS codes with meaningful names for your next reporting cycle (for example, if you currently use code 7 for Nonemployee Compensation, you might replace this code with one named NEC). If you create new codes, ensure that you assign them to vendors in Accounts Payable.

Sage 300cloud web screens improvements

This product update includes the following new features and improvements in Sage 300cloud web screens:

• Improved data integrity checking for integrated products. For some third-party products that integrate with Sage 300, you can specify options to refine data integrity checks.

Sage 300 desktop screens improvements

This product update includes the following new features and improvements in Sage 300 classic desktop screens:

• Updated visual process flows. We have redesigned Visual Process Flows so they no longer require Adobe Flash, because Flash will not be supported after December 2020. This release includes updated versions of the process flow templates that were available previously. You can use these templates as well as any custom process flows that you already have. However, in this release you cannot create or change process flows. The ability to customize process flows will be restored in a future release.