Microsoft Dynamics vendors provide comparisons and opinions to professionals in the ERP/Accounting software selection process

 
 

RoseASP Hosted Dynamics

What is Dynamics GP 2016 Year End Updates


Email | Print

Year End Updates Included with Hosted Dynamics GP

RoseASP installs year-end updates for all of our customers, but we want to share some of the need-to-knows about Dynamics GP year-end payroll, including updates.

Year-end Payroll

Microsoft Dynamics GP customers will have a hard time closing the calendar without installing GP year-end updates for their version of the software.   Year-end closing procedures create the Year-end Wage file, which is used to populate 1099 , W2, W3,  EFW2, 1095-C, and 1094-C forms.

The GP year-end update comes with critical state and federal changes that the majority of Dynamics GP customers will be required to install in order to process their year-end closing. All prior service packs, hotfixes, compliance, and year end updates are included in the most current version. Calendar Year 2016 is almost over and Microsoft released Microsoft Dynamics GP 2016 year-end updates in recent weeks.

Support for Dynamics GP 2010 has ended so customers who use GP version 2010 or older will have to upgrade to 2013 or newer to install new tax tables and year-end updates. Updates this year include important changes regarding ACA forms and processing (More).

RoseASP provides cumulative Dynamics GP year-end updates free for all RoseASP customers, ensuring that year-end updates are installed properly and without stress for our clients. For more info on year-end closing with GP, check out this Microsoft Dynamics GP Standard Year End Closing Procedures guide.

Dynamics GP 2016 Year-end Payroll Changes:

  • Affordable Care Act changes
  • No W-2 or W-3 Form changes
  • No EFW2 changes (Electronic Filing, now due 1/31)
  • Product Quality Fixes around Payroll Year-End
  • 1099-INT - form change (Box 12)
  • Payables 1096 form change
  • Fixed Asset Luxury Auto Depreciation changes (Path Act)

You can get more in-depth info on each of these changes here.

Get the most current information about Dynamics GP year-end updates at the following links:

Dynamics GP 2013

https://mbs.microsoft.com/customersource/northamerica/GP/downloads/tax-regulatory-updates/usgpye2013

Dynamics GP 2015

https://mbs.microsoft.com/customersource/northamerica/GP/downloads/tax-regulatory-updates/usgpye2013

Dynamics GP 2016

https://mbs.microsoft.com/customersource/northamerica/GP/downloads/tax-regulatory-updates/usgpye2016

SOX and other highly regulated customers must test any changes made to their financial system in a development environment before installing in production to ensure compliance. The year-end release addresses many critical state and federal tax changes and customer with strict compliance requirements should be careful to leave enough time to "Test" and "Validate" any year-end update. Please review the updates above to determine if any of the changes affect your Dynamics GP payroll.

RoseASP provides SOX and HIPAA regulated clients with year-end update installation along with continuing support and security for highly regulated businesses. Checkout this SOX Compliance Checklist to learn more.

Comments are closed.