2020 Year End Update And Planning
It’s that time of year again! The Dynamics GP 2020 U.S. Year End update has released for all versions. By starting your preparations now, you will ensure a smooth year end and kickstart a successful new year. If you would like to schedule Year-End assistance, please contact email@example.com or call (714) 634-4697.
What is in the 2020 Year End Update?
**The Year-End/Tax Update is inclusive of all previous hot fixes, service packs, and GP
- W-4 form changes for 2020 **the intent of the new W4 is to make taxes more accurate and simplify the W4 process for employees
- Changes for Employee Self Service W4 form and Cards l Payroll l Tax window
- No W-2 or ACA form or EFW2 electronic file changes
- No Payables form changes
- Fixed Asset Luxury Auto Depreciation changes
- New tax tables published based on 15-T
- Including New Head of Household Status, Standard and Multiple Jobs withholding tax tables
This year is different from past years as you will want to install the 2020 Payroll Tax Table (releasing mid December 2019) and the 2019 Payroll Year End Update, both by 1/1/2020 so you have the NEW W4 fields and the tax tables that go with those new fields (does not need to be installed at the same time).
Review our 2018 Dynamics GP Year End Close webcast. Stay tuned for our 2019 Dynamics GP Year End webcast dates!
Microsoft Dynamics GP 2019 US Payroll Year End Update (Released)
Microsoft Dynamics GP US Payroll Tax Update (estimated release date is mid-December)
PLEASE NOTE: *Mainstream Support for Microsoft Dynamics GP 2015 ends April 2020, which means clients on GP 2015 will no longer receive tax and year end updates after this years’ update. It is critical you upgrade