Microsoft Dynamics GP 2020 U.S. Year End Update And Planning

Microsoft Dynamics GP

Microsoft Dynamics GP

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 supported versions. We cannot stress how important this year end is as almost all customers will need this update due to the large Payables changes and the Dynamics GP Word Template fix.  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 support@issusa.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

 

Important to note this year:  Once you install the 2020 Year-End update, you can now report COVID/FFCRA (Families First Coronavirus Response Act) pay on all pay code types by entering labels for Box 14.

  • Prior to this update, only the Business Expense Pay code Pay type allowed you to key in a W-2 label
  • Employers are expected to separately report Qualified Sick Leave wages and Qualifies Family Leave Wages paid under the Families First Coronavirus Response Act (FFCRA) on 2020 Forms W-2, Box 14 or on a separate statement

Review our 2020 Dynamics GP Year End Close webcast

 

Microsoft Dynamics GP 2020 US Payroll Year End Update (Released)

 

Microsoft Dynamics GP US Round 1 Payroll Tax Update (released)  *Do not install this tax table update until ALL pay runs for the 2020 year are completed

 

Microsoft Dynamics GP US Round 2 Payroll Tax Update (estimated release date is mid-January 2021)

 

REMINDERS:

  • Mainstream Support for Microsoft Dynamics GP 2015 ended April 2020, which means clients on GP 2015 do not receive these tax and year end updates.  It is critical you upgrade
  • This is the last year-end update for GP v2016. Mainstream support for Microsoft Dynamics GP v2016

will end in July 2021.

 

Additional Resources:

We want to ensure your year-end process is as easy as possible.  If you need additional help, please call our Dynamics GP experts at (714) 634-4697 or email us at support@issusa.com.

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