By Bryan Wilton, President
Information on GP year-end update product releases has started to become more solid now as we get close to mid-November. The dates as we know them now are as follows:
- GP 2013 – this week
- GP 2015 – will follow soon after the 2013 year-end update is released
- GP 2016/R2 – expected around 12/1. Remember 2016 will not have a separate year end update and an R2 update; they will be combined into one so you will only have to apply one update to get both the year end update and version R2 if you are on GP 2016. Another benefit of upgrading to 2016/R2: GP will now print a W2 with lines.
- GP 2010 and earlier – there will be no year-end or other updates….time to upgrade! Contact Lori Ritzer if you would like to get your upgrade scheduled before year end. Lori.Ritzer@InterDynBMI.com.
- Canadian Payroll – should be available around middle of December. If you also have US payroll, you can wait until the Canadian payroll year end is released and apply both at the same time from one file.
Most have probably heard about the new overtime rules the DOL signed into law this past year? Those rules become law on December 1, 2016 and it looks like the Overtime Rate Manager in Dynamics GP will handle the calculations for you. This module is free but let us know if you need any help getting it setup and configured. Side note on this module — there are 3 payroll features which are part of the core GP system, called Core Payroll Extensions. They do require a separate install so lots of payroll users tend to miss these modules. The 3 modules included with GP are:
- Overtime Rate Manager
- Deductions in Arrears
- Payroll Integration to Payables
Let us know if you have any questions about these 3 payroll modules.
Now, back to payroll updates. Just a reminder the 2016 form changes are as follows:
- W2 – no form changes
- W3 – no form changes
- 1099-Int – small change
- 1099-MIsc – small change
- 1096 – does have a change as a result of the Int/Misc form changes
- Electronic Filing W2 (EFW2) – no change but is now due by January 31st.
And there is a law change (Path Act) to Fixed Asset depreciation limits so if you are running the Fixed Asset module for tax calculations, you’ll want to make sure to apply the year end update.
Finally, if you would like to attend one of our year end closing classes, ($195) all are being held online this year. Register now