Curious About What to Expect with Sage 300cloud 2021? Get Your Answers Here.
Released on Sept. 14, 2020, Sage 300cloud 2021 is the newest addition to the Sage 300 lineup. Here is a roundup of all the new features and capabilities you can expect to see in the latest version.
Running on limited time? Check out this handy cheat sheet that can help you understand the biggest updates at a glance.
- The Biggest Feature: Online Payments Capabilities!
With Sage 300cloud 2021, you can take advantage of a brand-new “Pay Now” button at the foot of your electronic invoices, which makes it faster and easier for your clients to pay you.
The “Pay Now” button (seen below in blue) is the first release in the new Payments Acceptance module. When clicked, it redirects your customer to a secure payment page that leverages your connection with an approved online payment service provider (PayPal or Stripe) to accept customer payments directly from invoices.
With this new feature, you can reduce the time it takes to handle your payments-related phone calls and snail-mailed checks. There is a high likelihood that you will be impressed by the ease and time savings this one feature introduces.
It is fast and easy to get started with online payments – but the experts at INFOMAN always want to make sure you have all the information you need for your critical business decisions. Therefore, you should know that:
- Partial payments are not currently supported
- Multicurrency capabilities are not currently available
- This feature is not activated in Europe yet (it works fine in North America)
- Stripe and PayPal are the only currently supported online payment service providers
- It is important to perform a cost-benefits analysis for your card processing costs
- ACH is not currently supported
- Sage is looking into additional online payment service providers and ACH processing solutions but is still at the beginning stages of that process and has no promises at this time
- This feature is only available for Sage 300cloud users on subscription
At INFOMAN we predict that, despite the few limitations listed above, most business leaders using Sage 300cloud 2021 will see a significant beneficial impact in terms of time savings and improved cash flow due to this feature.
Of course, if you have questions about how this will impact your organization, please reach out to INFOMAN to learn more about your options.
Other Great New Features for Sage 300cloud 2021
While the Payments Acceptance module and the “Pay Now” button are the biggest news in this release, those certainly are not the only announcements.
In addition, business leaders upgrading to Sage 300cloud 2021 can enjoy:
- Withholding tax in Accounts Receivable & Accounts Payable – Businesses can now easily withhold tax during a sale and remit the taxes to tax authorities later as required. With this feature, businesses can withhold some or all of the tax amount, which can be calculated based on the sales price or inputted as a flat amount per transaction. (Available only on subscription Sage 300cloud.)
- Usability updates – When working with a larger screen, you now have the freedom to shrink the text size on your Sage 300cloud 2021 web screens, helping you to reduce scrolling and get more out of your screen real estate. (Available only on subscription Sage 300cloud.)
- Expanded character limits – Previously, you had 9 characters to work with in your Accounts Payable fields. Now you have 15 characters to work with the AP module, as well as in AP-related third-party apps, customizations, macros, and reports. This can simplify your reconciliation process and reduce audit times. (Available on subscription Sage 300cloud and perpetual Sage 300.)
- Order Entry templates update – It is now possible to specify customer account sets in Order Entry templates. This saves you time because if you enter a transaction in Order Entry for a customer with no record in Accounts Receivable, the customer account specified in the Order Entry template will be entered by default. (Available on subscription Sage 300cloud and perpetual Sage 300.)
- Universal product access – In the past, there were 2 versions of Sage 300cloud, the North American version and the International version, each of which contained their own capabilities suited to the countries they were typically used in. Now, in response to global customer demand, all Sage 300-related products are universally available to all Sage 300 users.
- Online AR receipt batch lists – If you choose to process online payments using the secure “Pay Now” button, this capability helps you fetch your online payments batches so you can reconcile your accounts quickly and easily. (Note that online payment providers do not process payments per transaction; they deliver your payments — minus fees — in lump sums.)
Important Tax Information for U.S. Sage 300cloud Users
Sage 300cloud 2021 users in the U.S. can expect that the new 1099–NEC form update will be released before the end of the year. Sage expects to release this update in late November or early December, so let your accounting team know that it is coming soon.
In addition, U.S. Payroll users can expect two more changes that apply to Sage 300.
- Support for indicating whether an employee is a Non-Resident Alien for federal income taxes
- State and local legislative updates for ID, KY, NJ, NY, OH, and PA
Payroll updates are available on subscription Sage 300cloud and perpetual Sage 300.
Also note that if you are still running Sage 300 Payroll version 2018, you have until the end of February to access the latest tax tables and updates. After that point, you will need to discuss upgrading your Sage Payroll solution to a more recent version.
Make the Right Choice for Your Business – Speak with the Sage 300 Experts at INFOMAN
For more than 30 years, the ERP experts at INFOMAN have been helping business leaders like you make well-considered decisions that truly make sense for your needs – now and in the future. When you are ready for personalized advice or guidance for your business tech decisions, please reach out to INFOMAN. We are happy to help.