Microsoft Year End Closing and New Year Setups

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Microsoft Year End Closing and New Year Setups

It is the time of year for Microsoft Dynamics GP customers that use the Payroll module to start planning for year-end closing and new year setups.  The first step in that process is to download and install the YE update/service pack.  The update was released November 18th, so it can be installed anytime between now and year end if it is done before you run your year end wage file.  I recommend installing it earlier in the month if possible, so it doesn’t compete with vacations and the year end crunch time.  Installing the update requires that everyone is out of GP and will likely take anywhere from 1 hour to a whole day depending on how many companies and workstations you have.  We have one client with over 30 databases, so just the utilities run through takes all day on a fast server.   

GP2015 customers should download KB4528415 (version 14.00.1230) and GP2016 customers will need KB4528417 (version 16.00.0814). 

Be aware that the GP2018 users have a bit of surprise with their year end update.  Your YE update is KB4528419 (version 18.2.1036).  Because updates/service packs are all inclusive, that means previous services packs/updates are included.  Even though one of the previous updates which they initially named “Dynamics GP October 2019” is more like a version update, it is included as part of the year end service pack for GP2018 users.  Thus, your year end service pack is more like a version update.  It will also automatically phase you into what Microsoft is calling their “new modern lifecycle” for Microsoft Dynamics GP.  We recommend testing and checking with your 3rd party products to be sure they will work with this latest release. 

There are no major changes to the 2019 W2, W3 and 1099 forms.  However, with the changes to the 2020 W4 form, the YE Update will make changes to the Employee Tax Maintenance screen.  You are not required to submit a new W4 form to existing employees or update this screen for those employees if their most recently submitted form is from 2019 or earlier.  However, any new 2020 employees will be required to use the new 2020 W4 form and GP users will need to fill out the Employee Tax Maintenance screen accordingly. 

Please contact support@njevity.com if you have any questions.