Tis the season to deck the halls with holiday cheer, shop ‘til you drop for the perfect presents and prepare for Year End updates for Microsoft Dynamics GP 2013 and GP 2010. In order to avoid a naughty end-of-year surprise and bring 2014 to a nice close, it’s recommended that the Year End update be installed to stay compliant with the following reporting changes below:
- EFW2 Electronic Filing Changes (Electronic Filing of W-2s cannot be processed without the update)
- W-3 form changes (employer fax replaced by employer email address)
- 1099 Miscellaneous – form change (names blanked out for boxes 11 and 12)
- 1099 Interest – form and application changes (two new boxes and relabeling of previous boxes)
- 1099-R distribution code changes (addition of code K)
- Fixed Asset Luxury Auto Depreciation changes (maximum amounts)
- Affordable Care Act (ACA) Changes (GP 2013 only) for reporting in 2015
- In addition to Payroll, the Human Resources module is required to track ACA information in Microsoft Dynamics GP. Human Resources is FREE with Microsoft Dynamics GP 2013 licensing and beyond!
- For additional information regarding ACA changes, please click here.
In addition to the peace of mind which comes from being compliant, there are other benefits to applying the Year End Update guaranteed to brighten up the holiday season, including product quality fixes around Payroll year end.
The update process typically includes all prior service packs, hotfixes, compliance and year-end updates for Microsoft Dynamics GP and GP 2013. This includes R2 for GP 2013. Prior to starting the upgrade process, we recommend that you please verify that third-party and any software customizations will be compatible with the new dictionary version. Also, the upgrade will need to be done on the server of all workstations, which will require downtime for your users.
The update is available for download from the CustomerSource website:
Microsoft Dynamics GP 2010
Microsoft Dynamics GP 2013
Please review the documentation provided with these downloads.
As we get ready to ring in the New Year, we’d like to remind those companies currently on Microsoft Dynamics GP 2010 that 2014 is the last year that a Year End update will be available for your version. Make it your New Year’s resolution to get your Microsoft Dynamics GP system to version 2013 or 2015, which just came out this month.