Hello AceCopper, thanks for reaching out! 


Regarding payroll, KB 56633  details how to set up payroll remittance. You'll want to create a vendor record for each remittance vendor. The help menu is available to you with further instructions.

Once you have all this setup, provided that you have purchased a subscription with access to the Payroll module. You can generate a report with your remittance amounts.


Regarding GST / PST / HST, KB 11325 details how to track non-payroll remittance for federal / provincial sales taxes. Similar to payroll, a report is also available, which you can pull per period. The help menu has more in depth details for you.


Hope this helps!
Erzsi

But is that separating the tax owing into another bank account? Our main goal is to have the taxes into their own bank accounts so it's not showing in our general bank account. That way there is no way we can overspend from our main account if the funds are already in their own separate accounts allocated for taxes

Yes you can open accounts for this purpose but no, the transfer of money to those accounts would have to be done manually.  I've seen a couple of companies set up accounts for this purpose but the last one I know about has since closed the account for lack of use and too many fees.

When it comes time to pay the CRA, you can pay out of those accounts directly as well without transferring back to your operating chequing account.  You just need to switch the bank account in Sage 50 to the correct account.

Hi AceCopper:

To solve your problem just setup with your banking institution separate bank accounts for what you need. Just transfer manually through on-line banking. in some businesses that I have seen they calculate the GST/HST received from clients and make a transfer to their GST/HST bank account. When they have to pay the HST they can pay directly from that bank account or transfer it back to their main account to be paid. The same goes for CRA for payroll. To save bank charges set up your other bank accounts as savings accounts and just transfer only.

Another suggestion is to use Sage EFT to pay and receive money using the newly created bank accounts. Hope this helps!