It may be difficult to believe, but year-end is quickly approaching. Microsoft will release the year-end update for Dynamics GP the week of November 18.
2019 Pending Year-End Dynamics GP Update Changes
- W-4 form change for 2020
- No W-2 or ACA form or EFW2 electronic file changes
- Changes for Employee Self Service W4 form and Cards | Payroll | Tax window (required table changes)
- No Payables form changes
- Fixed Asset Luxury Auto Depreciation changes
- New tax tables published based on 15-T
- Including New Head of Household Status, Standard and Multiple Jobs withholding tax tables
Items to Note:
- You can run on the new 2020 tax tables WITHOUT installing the year-end update code, knowing they will not have the new W4 2020 window and fields.
- When you install the new tax tables or year-end update all the current employee filing statuses will remain the same, such as Married, Single, Exempt, etc.
- Once an employee fills out a new 2020 W4, that is when you make the changes under Cards | Payroll | Tax (or self-service) of the newly selected filing status/ W4 changes.
Mainstream Support for Microsoft Dynamics GP 2015 will end on 4/14/2020 which means at that point in time, you will no longer receive tax and year-end updates. Visit this page for more information Dynamics GP Lifecycle Services.
Year-end updates by version are noted on these CustomerSource pages:
Have Stoneridge Help With Your Year-End Close
Stoneridge Can Assist with your Year-End Close – Schedule Now
Our calendar typically fills up quickly – make sure to contact us as soon as possible to ensure you are scheduled for the date and time of your choosing.
Year-End Close Training Workshops – Register Today
During the Stoneridge year-end workshop, you will learn how to perform closing procedures in each Microsoft Dynamic GP module. Topics covered include:
- Overview of year-end procedures
- Updates and Backups
- Fiscal year-end vs. Calendar year-end
- Sales Order Processing and Purchase Order Processing
- Inventory Control
- Receivables and Payables Management
- Fixed Assets
- General Ledger
- Other Modules and 3rd Party Products
If you’re still looking for more information, please contact our team at Stoneridge!