What's New in Spectrum 2023 R3

Spectrum 2023 R3 is the year-end release which contains the required changes for processing Forms like W2s, 1099s, and those for ACA. This release also contains updates, time-saving enhancements, and fixes to customer-reported issues.

Regulatory Updates

With this version, you can confidently proceed with your year-end processing. In support of the 2023 tax year filings, we've updated Spectrum so that the pertinent reports and electronic files are IRS-compliant, as well as functional with our partners.

These forms are all updated as needed for your use during year-end processing:
  • Nelco and Aatrix electronic file outputs
  • Form 1095-C
  • Form W-2

Canada regulatory updates

In preparation for requirements in 2024, we've updated the T4 form according to the guidance issued by the CRA. These new fields support changes related to CPP and dental insurance.

Additional Invoice Approval Option

You can now route invoices based on each invoice's Total amount value, which in some cases could result in faster invoice approvals.

If you opt to assign Approval Limits to the reviewers in your Routing Codes, instead of all reviewers being required to approve the invoices, Spectrum uses the invoice amount to determine who must and who isn't required to review the invoice.

Once a reviewer with sufficient approval authority has approved the invoice, all subsequent reviewers are excused from approving it.

To learn more, see Approval Limits.

Support for Shared Limits on 401K Plans

Spectrum now supports a shared limit for your traditional 401K and Roth 401K plans.

For employees that participate in both a traditional 401K and Roth 401K, the application now assesses the maximum contributions as if they were a single limit. It looks to the employee's year-to-date contributions to both codes when determining if they can contribute more.

Supporting this feature is the new Shared Limit Setup screen, accessible from the Deductions / Add-on Code Maintenance screen.

These reports have been enhanced to identify when a code is being used in a shared limit.
  • Deduction/Add-on Listing
  • Employee Recurring Deduction/Add-On Listing
  • Pay Cycle Add-on report
  • Pay Cycle Deduction report

Canada Pension Plan changes starting in 2024

In supporting the CRA changes to the Canada Pension Plan, we've updated several areas to accommodate the different tiers and amounts:
  • The T4 Slip screen and the T4 printed and electronic forms
  • The Pension plan section of the Tax Table Maintenance screen (Other Taxes tab of the Edit Tax Table window)
  • The CPP window which opens from the Edit Tax Table window and from the Layoff Cheque Display screen
  • The Tax Table Listing report
Important: Update the tier rates and limits at the same time you update the tax table update for 2024, after the last payroll of the year. Tax tables and tax table instructions are located in the portal when the file becomes available for 2024.

For more details, see New T4 Slip - Field Descriptions and New/Edit Tax Table - Other Taxes - Field Descriptions.

Spectrum 2023 R3 Bug Fixes

This release provides fixes to customer-reported issues. To see the list:
  1. Log in to the Track Cases/Issues page of the Viewpoint Customer Portal.
  2. Make your selections in the product and module filter options.
  3. In the Fixed in Version field, enter 2023 R3.
  4. Select Apply Filters.