With all of the different requirements out there – Taxes, Federal Regulations, SEC Rules, Federal, State, Local reporting requirements – who can keep up with various government agencies and bureaucracies? Wouldn’t it be nice to simply install an update and forget about it? The Microsoft Great Plains ERP Software team carefully monitors payroll tax table changes and other significant changes to respond quickly with updates to ensure accuracy in calculations and reporting requirements.
A great example is the recently enacted Hiring Incentives to Restore Employment (HIRE) Act program passed by the United States Federal Government. The HIRE act changed the way FICA Social Security tax on wages was calculated for the company. Microsoft quickly responded with an update for GP which included modifications to the payroll module. Install the update and the payroll module now includes a checkbox for the company to mark which employees qualify under the HIRE Act. Deep in the code the calculations were modified to accurately calculate the FICA Social Security owed by the company. There would be no need for massive spreadsheets with multiple columns of formulas living ever so dangerously close to the edge of an incorrect copy and paste and thus an incorrect amount reported.
Microsoft also provides updates any time the Federal government, the State government, or a local government changes their payroll tax tables. Microsoft Dynamics GP strives to be flexible and understanding of the ever-changing and complex world of government regulations.
By Quadis Technologies – Nebraska Microsoft Dynamics GP Partner
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