Information on Payables 2016 Year End

By Bryan Wilton, President 

Payables 2016 year-end information continues to trickle in, but more frequently now. There are changes to the 1099-INT form used to report interest income. This form is less popular in the 1099 family, but if you are required to issue one, you’ll need the 2016 year-end update applied to properly print the 2016 form.

The same is true with the 1096 Transmittal (summary) form used to submit your 1099 forms. The 2016 layout has changed slightly as well, but will print correctly after applying the 2016 year-end update.

Although there is no new functionality in the 2016 year-end update around how the payables module is closed out, there are several new enhancements to allow you to view and edit 1099 data (if you’re on GP 2013 or later).

For more information on the year-end processing for Dynamics GP, plan to attend our year-end close out class which shows you how to successfully close out your system for the year and make ready the new year for processing. Watch for an email soon where you can register for the class.

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