Microsoft Dynamics GP Year-End Payroll Checklist

by | Updated August 17, 2018 | Dynamics GP, Payroll

When the weather outside gets frightful, completing your year-end payroll shouldn’t be. With Microsoft Dynamics GP, closing out payroll can be completed in just a few steps. Prior to starting closing procedures, the following actions should be implemented:

  • Make sure you have a complete backup of the databases, including Dynamics and all company databases.
  • Post all batches – (Microsoft Dynamics GP >Tools > Routines > Master Posting)
  • Check and clear Batch Recovery – (Microsoft Dynamics GP > Tools > Routines > Batch Recovery)

Year End Payroll Checklist

  • Make sure you close the last period or month of fiscal or calendar year.

After your information is backed up, you can start your close. To perform the year-end closing procedures, follow these steps:

  1. Verify that you have installed the latest 2014 payroll tax update
  2. Complete all pay runs for the current year.
  3. Complete all month-end, period-end, or quarter-end procedures for the current year.
  4. Make a backup of the original file.
  5. Install the Year-End Update.
  6. Create the Year-End file.
  7. Make a backup of the new file.
  8. Verify W-2 and 1099-R statement information.
  9. Print the W-2 statements and the W-3 Transmittal form.
  10. Print the 1099-R forms and the 1096 Transmittal form.
  11. (Optional) Create the W-2 Electronic file.
  12. (Optional) Archive inactive employee Human Resources information.
  13. Set up fiscal periods for 2015.
  14. (Optional) Close fiscal periods for the payroll series for 2014.
  15. Install the payroll tax update for 2015.

For full details and additional information on the Microsoft Dynamics GP Year-End Payroll Checklist, please contact Stoneridge Software.

Related Posts

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Upcoming Events

december

02dec9:00 am12:00 pmOnline Workshop - Dynamics GP Year End Close (Morning Session)

03dec11:00 am12:00 pmConfab with Stoneridge - Livestream: Live Agents, Power Virtual Agents, Omnichannel – Oh My!

03dec1:00 pm4:00 pmOnline Workshop - Dynamics GP Year End Close (Afternoon Session)

09dec10:00 am10:30 amThe Modern Manufacturer - Manufacturing Policy Management

17dec11:00 am12:00 pmConfab with Stoneridge - Livestream - Technology in 2020: A Year in Review

january

06jan10:00 am10:30 amThe Modern Manufacturer - MRP v MPS – What, When and How

14jan11:00 am12:00 pmConfab with Stoneridge - Livestream - Looking Forward: Predictions for Technology in 2021

20jan10:00 am10:30 amThe Modern Manufacturer - Demand Forecasting Functionality

About Stoneridge
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.

Subscribe To Our Blog

Sign up to get periodic updates on the latest posts.

Thank you for subscribing!

X