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Microsoft Dynamics GP Year End Resource Center
Recent Updates and Releases
2013 U.S. Payroll Tax update for Microsoft Dynamics GP 2013
2013 U.S. Payroll Tax update for Microsoft Dynamics GP 2010
2012 U.S. Payroll Year End Update for Microsoft Dynamics GP 10.0
2012 U.S. Payroll Year End Update for Microsoft Dynamics GP2010
Welcome to the Microsoft Dynamics GP Year-End Close Resource Center. This site is dedicated to providing the information necessary to close Microsoft Dynamics GP. Every year we receive numerous questions about year-end closing in Microsoft Dynamics GP. The following year-end close resources have been compiled over the years by the Dynamics University partners. Please don’t hesitate to contact any of our Microsoft Dynamics GP partners for additional help or information.
Microsoft publishes (and updates yearly) articles that provide the necessary details on how the year-end close should be done. It is important to remember the proper order to close modules in Microsoft Dynamics GP. The icons below include links to more detailed information for that particular module, some including a short demo of the close process.
FREE GP YEAR END WEBINARS
Course Topics:
- Year-end module close process
- Payroll Year End Update
- What files will be available for customers using Payroll in GP
- Files Microsoft will be releasing for the GP2013 Tax Update
WHEN TO CLOSE AND THE ORDER FOR CLOSING MODULES
WHEN TO CLOSE AND THE ORDER FOR CLOSING MODULES
A common question asked by many! Payroll year-end procedures are independent from the other modules and are always performed at the end of the calendar year.
Some modules such as Inventory and Fixed Assets should be closed at the end of the fiscal year BEFORE posting transactions in the next fiscal year. When these modules are closed, the dates the transactions were completed are not used in determining if they are part of the close, rather the closing processing will include anything that is posted since the last close was completed.
With regards to the Receivables and Payables modules, you may see inaccuracy in certain fields in summary reports, SmartLists and information in summary windows if these modules are not closed prior to posting transactions in the next year. Therefore it is recommended to process the fiscal and/or calendar year-end close prior to posting transactions for the next year.
**Note - There are scripts that can be run to correct some of the reporting information in the Receivables and Payables modules. Please contact your Partner to discuss scripts that may be used to display this data correctly.
Also keep in mind, there is no year-end close process for Sales Order Processing or Purchase Order Processing, rather the close is for the Receivables and Purchasing module.
There is a specific order that Microsoft recommends when performing the year-end close. The modules should be closed in the following order according to fiscal/calendar year:
Payroll – Calendar (independent and always done at the end of a calendar year)
(1) Inventory – Fiscal
(2) Receivables – Fiscal/Calendar
(3) Payables – Fiscal/Calendar
(4) Fixed Assets – Fiscal
(5) Analytical Accounting – Fiscal
(6) General Ledger Fiscal
**Analytical Accounting is part of the General Ledger close process. The steps for closing Analytical Accounting are outlined in the documentation for the General Ledger module.
VERSION AND UPDATE INFORMATION
VERSION AND UPDATE INFORMATION
U.S. Update
The 2012 Year-End (code) update was released by Microsoft on November 16, 2012. The year-end update includes changes to the Payroll module, the Fixed Assets module as well as Payables. Microsoft will be releasing updates for the following supported versions:
Microsoft Dynamics GP 10.0
- U.S. Payroll Year End (code) Update (will be in the form of an executable file “exe”)
- U.S. 2013 Round 1 Payroll Tax Update
**Note – Customers on Microsoft Dynamics GP10.0 will NOT receive the code changes needed for 2013 Q1 941 form update
(Pending IRS finalization)
Microsoft Dynamics GP 2010
- U.S. Payroll Year End (code) Update (will be in the form of an Windows Installer file “msp”)
- U.S. 2013 Round 1 Payroll Tax Update
- U.S. 2013 Round 2 Payroll Tax Update
**Future 2013 Payroll Tax Updates
Microsoft Dynamics GP 2013
- U.S. Payroll Year End (code) Update (will be in the form of an Windows Installer file “msp”)
- U.S. 2013 Round 1 Payroll Tax Update
- U.S. 2013 Round 2 Payroll Tax Update
**Future 2013 Payroll Tax Updates
These updates are cumulative, containing the Year-End updates in addition to prior service packs, hotfixes, compliances, and previous fixes to other modules for Microsoft Dynamics GP. So if you are not on the most recent release or service pack of your supported version of Microsoft Dynamics GP, this update will contain all prior fixes for that version.
If installing the update, it must be installed at the server(s) first, and then installed at each workstation where Microsoft Dynamics GP is installed.
Canadian Payroll Update
Microsoft will be releasing a separate file for the 2012 Year-End Update and the 2013 Tax Update in mid-December. Check the website for updated information regarding the release of this year-end update.
UPDATE TIPS
UPDATE TIPS
Please reference the icons below, for detailed instructions and assistance for closing each module and applying the Year-End update. Here are some general tips and guidelines with regards to doing any update.
Pre Update:
- Backup the DYNAMICS database and all company databases before applying any update. This is a SQL Server backup.
- Export all modified reports and forms to a package file. If the modified forms and reports are shared, this only has to be done once. If these files are local to each computer, multiple exports will need to be done. Refer to the Dynamics.set file for the path of these files.
- Microsoft Dynamics GP > Tools > Customize > Customization Maintenance
- Highlight all files, click Export. Name the file and save it to the computer or network share.
- The user running the update must have local administrative rights to that computer.
- Verify the Microsoft Dynamics GP installation used to upgrade the databases includes all additional product installations. If there are third-party products installed, validate if there is a service pack needed for those products as well.
- Verify that all products being upgraded existing on both the server and the client workstations.
- Updates in the form of MSP files can be pushed out to client workstations using the Automatic Client update.
General Update Information:
- All modified forms and reports (Forms.dic and Reports.dic) must be updated.
- If these dictionaries are on a shared network, this only needs to be done once. If there are multiple (local) dictionaries, each dictionary needs to be updated.
- The update installation has two components.
- When you click on the update, it first updates the application
- Next, GP Utilities is run to update all company and Microsoft Dynamics GP databases.
- Apply the update to each computer (server and client install) that runs Microsoft Dynamics GP one computer at a time. Wait for the first to finish before doing the next computer.
YEAR-END CHANGES
YEAR-END CHANGES
U.S. Update
Microsoft has released the U.S. 2012 Year-End updates for Microsoft Dynamics GP 10.0 and Microsoft Dynamics GP2010. If you are using U.S. Microsoft Dynamics GP Payroll, you must apply this update. This update includes previously released Microsoft Dynamics GP service packs, hot fixes, compliances, and module fixes as needed.
Every year we receive questions regarding the steps and what is needed for Payroll. This year, there are four steps that must be followed in a precise order for U.S. Payroll:
- Apply latest 2012 Payroll Tax Table Update
- Apply 2012 Year-End (code) Update
- Post all 2012 payroll transactions and create the 2012 Year-End Wage File
- Apply 2013 Tax Table Update (apply prior to first 2013 payroll transactions)
**More detail regarding each step and order is described in the tile for that specific module.
Listed below is a summary of the U.S. 2012 Year-End Payroll updates:
- No W-2 or W-3 Form changes
- EFW2 Changes (Electronic Filing)
- Payroll country code changes
- 2013 New Medicare Taxes on High Earners
- Product Quality Fixes around Payroll Year-End
Payables Management and Fixed Assets also have some changes in this 2012 Year-End (code) Update. Listed below is a summary of the 2012 Year-End changes provided by Microsoft.
Payables
- 1099 DIV and 1099 MISC
- Minor movement of fields and checkboxes, as well as slight adjustments in field heights to accommodate forms. (Microsoft tested these minor changes with existing versions and found the information to still print correctly on the 2012 1099 forms.)
- (Optional) IRS will allow filers to truncate/mask a recipients ID numbers (SSN, ITIN or ATIN).
- Since this is optional and not for all ID numbers, no change was be made to mask the ID number in Microsoft Dynamics GP. ID number will continue to print in full.
Fixed Assets
- Luxury Auto Maximum Depreciation Deduction Amounts
- The maximum depreciation deduction amounts allowed for luxury vehicles has been updated for assets placed in service in calendar year 2012 to comply with IRS Guidelines.