Dynamics GP: Preparing for Year-End 2016

Posted by Georgia Stewart on October 4, 2016


The 2016 calendar year-end is approaching! Microsoft is planning the release of the Dynamics GP year-end update for mid-November.

As we begin thinking about wrapping up 2016, there are some topics that require planning and decision-making. Our December year-end meetings will be very detailed regarding these topics, and we wanted you to have a chance to think about them in advance.

*Please read ALL of the instructions in each section before you start performing any of the items on the checklist.

 

There are 7 things you should do now, in preparation for year-end.

1. Sign up for one of Crestwood’s Dynamics GP year-end seminars.

2. Know your Dynamics GP version and service pack numbers.
3. Update your system to the current service pack level.
4. Go through our preparation checklist on your system.
5. Order your tax forms early
6. Get familiar with the list of Dynamics GP changes & information related to year-end.
7. Contact the Crestwood Support Team and schedule your year-end assistance appointment.  Email them at Support@Crestwood.com.

 

Find Your Version Number and Service Packs:

In Microsoft Dynamics GP 2013, 2015, or 2016 click the Help icon to the right of the Address bar (or click Alt+H), and go to About Microsoft Dynamics GP.

 

Update to Current Service Pack Levels

To prepare your Dynamics GP system for the latest service packs, make a list of all the servers and workstations that have Microsoft Dynamics GP installed, along with the logins and passwords on those machines. AS OF TODAY (09/27/2016), the latest service packs are shown in the table below.

Please note that Dynamics GP 2010 support expired in October 2015. There will be NO 2015 year-end update and NO tax updates for Dynamics GP 2010.

We recommend that you update Dynamics GP 2013, 2015, or 2016 as soon as possible to the most recent service pack listed above so that you have all of the changes to tables and windows related to the Affordable Care Act (ACA).

Note:  If you are still on GP 2010 or an earlier version and you process payroll, you need to upgrade your Dynamics GP to a more current version in order to receive the changes and tax forms related to the Affordable Care Act. 

The 2016 year-end update changes are pending.  The 2016 year-end update will be all inclusive of previous hotfixes and service packs for Dynamics GP 2013 and Dynamics GP 2015. In addition, Version R2 for Dynamics GP 2016 is planned to be released December 1, 2016. This release will include the year-end update for Dynamics GP 2016, and you will be required to install version R2 for Dynamics GP 2016, which will not only include year-end updates, but also all other planned changes made to Dynamics GP 2016.

 

Preparation Checklist for Your Dynamics GP System:

System Review:

  1. Be sure that your Backups are working correctly, and test the Restore process prior to Year-end. Not sure how to do this? Just give our support team a shout at support@crestwood.com.
  2. Have you been doing your File Maintenance procedures regularly?  We recommend that the file maintenance Check Links be done each quarter, but these can be run monthly, if you wish.  All users should be out of the system while you perform these functions. And always be sure to back up your databases prior to running any of the File Maintenance processes.
  3. Run Check Links for each series. Some of the information in table groups is stored in two or more of the tables that compose them. If information in one table is missing or damaged, the check links program examines other tables where the same information is stored, and re-creates the damaged record in the first table.
  4. Reconcile processes may be run as well. If you use Sales Order Processing, Purchase Order Processing, and Inventory, be sure to run them in that order. DO NOT RUN THE ACCOUNT FORMAT SETUP RECONCILE BECAUSE IT RE-SETS THE MAIN SEGMENT TO BE THE FIRST SEGMENT.  If you have Payroll, just run the Reconcile report. DO NOT MARK THE RECONCILE BOX – ONLY MARK THE PRINT REPORT BOX! If you have never run Check Links or Reconciles in your system, we strongly recommend that you run them first in a test company to determine how long the processes will take and insure that you understand and can deal with any issues that may arise.  Click here for information on how to easily set up a test company in Dynamics GP.  
  5. Check the available space on your server. The year-end procedures may take quite a bit of space, so look into this soon.
     

General Ledger:

  1. Be sure that your Account Types are correct. If you have a P & L account mislabeled as a Balance Sheet account, or vice versa, the Fiscal Year Close will not be correct. Use a SmartList to verify these Account Types. If any are incorrect, make the change now so that your fiscal year-end close will be correct.
  2. If using divisional or fund accounting, be sure to set up a Retained Earnings account for each division/fund.
     

Purchasing:

  1. Use a SmartList to be sure you have all the required vendor tax ID numbers for your 1099’s. Any that are missing can then be requested in plenty of time. Do a Dry Run on your 1099 printing, if you have time.
     

Payroll:

  1. Run the Reconcile Report. DO NOT CHECK THE RECONCILE BOX, ONLY CHECK THE PRINT REPORT BOX! If anything appears on this report, look into the situation. The report should be empty.

If you have further questions on any of these items, send us an email at Support@Crestwood.com.


Order Tax Forms:

Get a head start on the 2016 Tax Season by ordering your W2 and 1099 forms.  Crestwood recommends Deluxe Checks as they have all the Dynamics approved pre-made forms for your convenience.  Use the Crestwood Priority Service Code MR4394 to receive special offers, and discounts.  Read more on Deluxe Checks.  

 

Changes & Information You Should Know Related to Year-end:

  • There are no W-2 or W-3 form changes.
  • There are no EFW2 (Electronic Filing) changes, and the deadline is now 1/31/17.
  • There are changes to the Fixed Assets Depreciation Limit (Path Act)
  • The payables 1096 form has changed
  • Payables 1099-Int and 1099 Misc. have changes (these are small changes and are still under review)
  • All ACA information is not finalized yet, but Microsoft has indicated that they think there will be some changes related to ACA prior to the year-end update. If you are going to use Dynamics GP for ACA, you will need to install the year-end update.
    ****Microsoft will NOT supply the ACA electronic file.
    If you need to file the ACA form electronically, both Greenshades and Integrity Data will allow you to track ACA in core DYNAMICS GP and they will just electronically file the ACA for you.
    ***Note most form filing deadlines have all moved to January 31, 2017***
  • There are new Overtime Rules that were signed into law by the Department of Labor, effective December 1, 2016.  Based on Microsoft’s review of the new rules, the Overtime Rate Manager product, which is free to all, will suffice for these rules.  Overtime Rate Manager also works with the Salary pay type pay code if your company pays Overtime to Salary employees.  Here are some links related to the overtime changes and to the Microsoft Blog about Overtime Rate Manager:
  • Dynamics GP 2016 R2 - Dynamics GP 2016 R2 will release at year-end, so any customer that is on Dynamics GP 2016 will get R2. Microsoft is adding approximately 20 new features to Dynamics GP 2016 R2.  One of the new features added in Dynamics GP 2016 R2 will allow you to Print a W2 with the lines! 
  • Dynamics GP 2010 Mainstream Support Ended October 13, 2015.  As many of you are already aware, Microsoft Dynamics GP 2010 mainstream support was discontinued as of October 13, 2015. Extended support will be ending on October 13, 2020.  Below is a chart that outlines the differences between Mainstream Support and Extended Support.

If you currently use Microsoft Dynamics GP 2010, you must upgrade to Microsoft Dynamics GP 2013, 2015, or 2016 to receive any further regulatory and/or code updates.  Contact us at Support@Crestwood.com to plan your upgrade.

We want your year-end process to go smoothly.  If you have questions, please send us an email at Support@Crestwood.com.


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