2020 Year-End Close Resources for Microsoft Dynamics GP Users

by | Updated November 5, 2020 | Dynamics GP, Financials, Training

year end update dynamics gp 2020

Year-End is upon us again, and now is the time for Dynamics GP users to make plans to install the year-end update and close out the year. The 2020 U.S. Year-end Update is targeted to be released around 11/20/2020 for Microsoft Dynamics GP 2016 and 18.3.

The U.S. 2020 Year-end Update contains software changes to allow you to comply with 2020 filing requirements as well as the most recent fixes for Dynamics GP and other quality report fixes related to the payroll year-end. The update is all-inclusive and includes all prior service packs and hotfixes.

For Microsoft Dynamics GP 2018 customers if you install the 2020 year-end update, you will have all the features noted in the October 2020 release.

If you’re running payroll from Dynamics GP, there are specific changes that impact payroll directly:

  • The IRS is releasing a new 1099 NEC form for the 2020 tax year. Non-Employee Compensation, which had been included in the 1099 MISC form, has been moved to its own form.
  • Payroll form changes
    • Payroll Wages for FFCRA report on W-2 Box 14
  • Updates for ACA reporting, form 1095-C
    • New ACA codes
    • Plan start month is required
    • Employee age printing on the form
    • New Line 17 Zip Code

Where can you download the Dynamics GP Year-End update?

***NOTICE***

Mainstream Support for Microsoft Dynamics GP 2015 ended on 4/14/2020 which means you no longer receive tax and year-end updates. Reach out to Stoneridge Software to learn about your options.

Have Stoneridge Help With Your Year-End Close

Does your team need assistance with year-end close? Stoneridge can assist you. Just schedule now!

If you would like the GP team to complete your year-end close, please complete and submit this form.

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.

GP 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
  • Payroll
  • Other Modules and 3rd Party Products
  • FAQ’s

 

Register for the year-end workshop that works best for you

GP Year-end Close Workshop: Wednesday, December 2

9 a.m. – 12 p.m. CT

Register

GP Year-end Close Workshop: Thursday, December 3

1 – 4 p.m. CT

Register

If you’re still looking for more information, please contact our team at Stoneridge!

 

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Stoneridge Software is a unique Microsoft Gold Partner, with emphasis on partner. With specialties in Microsoft Dynamics 365, Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP and Microsoft Dynamics CRM, we focus on attracting the most knowledgeable experts in the field to our team, and prioritize delivering stellar solutions with maximum impact for your business. At Stoneridge, we are deeply committed to your results. Each engagement is met with a dedicated team, ready to provide thorough, tailored, and expert service. Based in Minnesota, we intentionally “step into your shoes,” wherever you are. We focus on what you care about, and develop trusting, long-term relationships with our clients.

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