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?
- U.S. Payroll Year-End Update for Microsoft Dynamics GP
- U.S. Payroll Year-End Update for Microsoft Dynamics GP 2016
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
- Other Modules and 3rd Party Products
Register for the year-end workshop that works best for you
9 a.m. – 12 p.m. CT
1 – 4 p.m. CT
If you’re still looking for more information, please contact our team at Stoneridge!