Microsoft Dynamics GP Year End 2015 Preparations

Posted by Georgia Stewart on September 29, 2015


The 2015 calendar year end is approaching and Microsoft is planning the release of the Dynamics GP year-end update for mid-November.

 

As we begin thinking about the end of 2015, there are some topics that require planning and decision-making. Our upcoming Year End Seminars (in December) will be very detailed regarding these topics, and we want to give you a head start so you can allocate time and resources to get these steps done.

 

Prep Task #1:  How to Find Your Dynamics GP Version Number:

In Dynamics GP 2010, 2013 or 2015, click the Help icon to the right of the Address bar (or click Alt+H), and go to About Microsoft Dynamics GP.

Take careful note of the Version Information. 

 

Prep Task #2:  Prepare for Applying the Latest Service Packs:

To prepare for the application of 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 for those machines. AS OF September 15, 2015, the latest Service packs are shown in the table below.

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

 

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

If you are still on GP 2010 or an earlier version and you process payroll, you need to upgrade to either GP 2013 or GP 2015 to receive the changes and tax forms related to the Affordable Care Act.

 

The 2015 Year End Update changes are pending—Microsoft hasn’t announced if there will be any W2 or 1099 changes yet. 

 

If you are running GP 2013 or 2015, when you apply the Year-End Update, it will include the “R2” version and all previous hotfixes and service packs for GP 2013 and GP 2015. This is important, since R2 versions are typically more complex than regular hotfixes and can include table changes.

 

Two new forms will be required to be filed at the end of 2015 for employers with 50 or more full-time employees or full-time equivalents (FTEs). These forms are used to determine whether the employer is liable for penalties under the employer shared responsibility requirements of the ACA. These will be available in Dynamics GP 2013 and GP 2015 (and beyond). The new forms are NOT available for Dynamics GP versions prior to 2013.

1094-C

  1. This is a summary the employer fills out for all employees that receive the 1095-C.
  2. A 1094-C form must accompany any 1095-C form that is sent to the IRS
  3. It is a transmittal of Employer Provided Health Insurance Offer and Coverage Information Return
  4. http://www.irs.gov/pub/irs-dft/f1094c--dft.pdf
  5. http://www.irs.gov/uac/About-Form-1094-C

1095-C

  1. This must be provided to the employee from the employer (similar to a W2)
  2. This is the Employer Provided Health Insurance Offer and Coverage
  3. http://www.irs.gov/pub/irs-dft/f1095c--dft.pdf
  4. http://www.irs.gov/uac/About-Form-1095-C

 

Instructions: http://www.irs.gov/pub/irs-pdf/i109495c.pdf

Affordable Care Act, Tax and Year End Changes for 2015 for Microsoft Dynamics GP 2010 (and earlier versions) are NOT available.

 

Prep Task #3:  System Review

  1. Be sure that your Backups are working correctly, and test the Restore process prior to Year End.
     
  2. Have you been doing your File Maintenance procedures regularly?We recommend that the file maintenance Check Links be done Quarterly, 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. Reconciles 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 CHECK THE RECONCILE BOX – ONLY CHECK THE PRINT REPORT BOX!

  5. If you have never run Check Links or Reconciles in your system we recommend that you run 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.

  6. How much space do you have on your server? The Year End procedures may take quite a bit of space, so look into this soon.

 

Prep Task #4:  General Ledger Cleanup

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.

If using divisional or fund accounting, be sure to set up a Retained Earnings account for each division/fund.

 

Prep Task #5:  Purchasing

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.

 

Prep Task #6:  Payroll

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.

 

Prep Task #7:  Order Tax Forms

Get a head start on the 2015 Tax Season by ordering your W2 and 1099 forms.

 

Where do I go for help?

Be on the lookout for the announcement of our Year End Seminars and Webinars – dates and locations to be announced very soon.

 

Are You Prepared To Comply with the Affordable Care Act?

The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan. For 2015, most businesses will be required to include both the employee and the employer portions of the health benefit on W2s.

 

If you are not sure about whether you need to report the cost of coverage on your 2015 W2s, please contact your accountant or the IRS.

 

If you need to report the cost of coverage for your group health plan this year, it is a good practice to set up benefits in Microsoft Dynamics GP payroll to track the employer cost portion of the group health coverage. The amounts of benefits for the employee will be tracked similar to a deduction. You can enter a W2 box and label on the benefit so it is reported correctly. If you have not been tracking the benefit in Dynamics GP throughout 2015, you can enter the full year benefit during the last payroll paid in 2015.

 

There are several requirements for tracking and processing the forms related to the Affordable Care Act

  • You must be on Dynamics GP 2013 or later release.
  • The Affordable Care Act changes will not be implemented or supported for GP 2010 or earlier versions
    • Mainstream support for GP 2010 ends on 10/13/2015
    • You will not get any year-end or tax updates for GP 2010 for 2015
  • You must have Human Resources and Payroll installed
  • It is recommended that you also install the Human Resources And Payroll Suite to be able to use Deductions In Arrears
    • Deductions in Arrears allows you to track uncollected deductions to ensure they are recovered in a future pay run.
  • You must install the January 2015 Hotfix if you have not already done so
  • Changes were also made in the March 2015 Hotfix
  • Be sure you add employee dependents
  • If you already have employee dependents set up, be sure to review any to make sure they are marked appropriately as being Covered or Not Covered
  • Be sure you update Health Insurance Benefit information in Human Resources

 

If you would like more information about the changes that have been made in GP 2013 and GP 2015 for the Affordable Care Act, please contact support@crestwood.com or your Client Account Manager.

 

Dynamics GP 2010 Mainstream Support Ended October 13, 2015

 

As many of you are already aware, Microsoft Dynamics GP 2010 mainstream support will be discontinued on 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 or Microsoft Dynamics GP 2015 to receive any further regulatory and/or code updates.


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