Error: "A managed exception was caught..." when opening Payroll Settings

• Default payroll fields created by Sage 50—U.S. Edition have been overwritten
• By default Sage 50 creates the Fed_Income, Soc_Sec, Medicare, and St_Income fields and the name of these fields have been changed
• Payroll fields are classified incorrectly
• Missing current payroll year formulas in user-maintained
• There are two state tax fields
• Bad program files
• Bad company files

CAUTION: Use caution when working with the below product functionality. Always create a backup of your data before proceeding with advanced solutions. If necessary, seek the assistance of a qualified Sage business partner, network administrator, or Sage customer support analyst.

Section I: Reclassify payroll fields

1. Make a backup of your data. See the Related Resources section for instructions.
2. Select Maintain, Payroll, Employee Defaults, Employee Fields tab.
3. Make a note of the fields listed here. Click OK.
4. Select Maintain, Payroll, Reclassify and Rename Payroll Fields.
5. Locate the fields in question below the Taxes section.
6. In the Category column change these fields to *Not Assigned.
7. Click Save and then click Close.
8. Answer No to the follow up question.
9. Select Maintain, Payroll, Payroll Settings and verify that you can access that screen.

Section II: Clean data folder

Follow Article ID 14920: DocLink: Create a clean data folder and expendable file cleanup

DocLink: How do I create a backup?