Microsoft Dynamics GP 2021 Fall Update

Dynamics GP 2021 Fall Update

Year-end is coming too quickly – can you believe the year is almost over? For our Dynamics GP folks, it’s time to start looking at what needs to be done.

October 2021 Dynamics GP Release

Let’s start with the latest release – Dynamics GP 18.4. Microsoft has added a ton of functionality this time around. They had three main themes they focused on when planning and implementing the upgrades:

  • Ease of Use
  • Customer Requests
  • Extend Functionality

Most of the awesome new features are customer suggestions, so if anything vexes you, be sure to tell Microsoft what you want to see.

You should always keep an eye on upgrading. If you want to stick with Dynamics GP, just be mindful of the lifecycle; while it was extended to 2028, you may not want to wait to move into something more modern.

Dynamics GP Year-End 2021

First thing is first – don’t forget that there is no year-end update for Dynamics GP 2016 users. Reach out to your CAM with questions about this.

Crestwood is, as always, hosting our Year-End Close seminar virtually (forgoing our in-person events for one more year). We hope you’ll join us there! Mary Lenehan is our Great Plains expert, and she will walk you through everything and answer any questions you may have.

According to Terry Heley, there are quite a few changes to note. Microsoft Docs has more detail, but the big ones to note:

  1. Payables 1099-NEC, 1099-MISC, 1099-DIV form changes

“The DIV could be major – still working on it,” Terry says

  1. Payables 1096 form changes
  2. Fixed Assets: luxury auto depreciation changes
  3. Payroll 1099-R form changes

There are no Payroll W2 or EFW2 changes

1099 Xport for Dynamics GP1099-NEC and 1099-MISC Changes

The IRS changed the 1099-NEC again. Remember the drill from last year? If you are on Dynamics GP 2018, the year-end update will take care of you.

Everyone else, from Dynamics GP 2016 and earlier? You need a workaround. This blog has more detail, but just an FYI – Crestwood’s developers are updating our inexpensive and easy-to-use 1099-Xport tool to comply with 2021 requirements. Reach out to your CAM for more info.

We will all get through year-end together – no matter what Microsoft, the IRS, or COVID-19 throws at us!

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