Year End Close and Update for Dynamics GP in 2018

Transcription

1 Year End Close and Update for Dynamics GP in 2018 Authored By: Jo deruiter

2 TABLE OF CONTENTS The Year End Update Scoop... 5 Bug Fixes in 2018, 2016, Speaking of Versions Install and Upgrade Overview And Tips... 8 Overview... 8 Pre-Install & Upgrade Tips... 8 How do I?... 8 How do I find my Modified forms and Backup?... 8 Install & Upgrade Tips... 9 Post-Install & Upgrade Tips... 9 The Planning Stage Steps to Complete Before Year End Summary of Year End Closing Procedures Close Modules in a Specific Order Please note that the following modules do not have a year-end closing routine: Inventory Control Year End Closing Changes Made in Inventory this Update: When Should the Year End Close be done? What Does the Year-end Close Process do and/or Affect? What steps should I take to close the Year? Inventory Year End Closing Tips: Closing Receivables Receivables Management Year End Closing Changes Made to AR this update When Should the Year End Close be done? What Does the Year-end Close Process do and/or Affect? What steps should I take to close the Year? Receivables Year End Closing Tips Payables Management Year End Closing Changes Made to AP This Update: When Should the Year End Close be done?... 20

3 What Does the Year-end Close Process do and/or Affect? What steps should I take to close the Year? Payables Year End Closing Tips Fixed Assets Year End Closing Changes Made to Fixed Assets this Update When Should the Year End Close be done? What Does the Year-end Close Process do and/or Affect? What steps should I take to close the Year? FA Year End Closing Tips Analytical Accounting Year End Changes Made to Analytical Accounting This Update: When Should the Year End Close be done? What does the GL Year End Process do in AA? What steps should I take to close the Year? Key Points to Remember Year End Closing Tips General Ledger Year End Closing Changes Made to General Ledger This Update: When Should the Year End Close be done? What Does the Year-end Close Process do and/or Affect? What steps should I take to close the Year? General Ledger Year End Closing Tips What are some of the related KnowledgeBase articles that can be referenced? Payroll Year End Closing Changes Made to Payroll This Update: When Should the Year End Close be done? What Does the Year-end Close Process do and/or Affect? What steps should I take to close the Year? Payroll Year End Closing Tips Frequently Asked Questions on Payroll YE in Dynamics GP What are some of the related KnowledgeBase articles that can be referenced?... 38

4 2018 Year End Update Install & Upgrade Tips

5 The Year End Update Scoop Bug Fixes in 2018, 2016, Fixes(version ) Will put you on 2018R2, so please get familiar with that version Mass Navigation Lists are not appearing Slow performance at Inquiry>Transaction by Document in Payables or Receivables Intelligent Cloud Insights tab appears as the home page default Multiple fixes around the GP2018R2 Web Client Writing Assistant Incorrect Message in payroll when a transaction is outside the pay code start or end date Pay codes not included in payroll when start date falls between pay period dates Payroll integration to Payables (PIP) not posting the federal tax on tips to vendor records When processing payroll the mandatory arrears information is not populating in the APR_APR30300 table System error with the ASIEXP86 Table (SmartList Favorites Column Master) on GP 2018R2 Project Time and Expense timesheets updating with incorrect billing status in Web Client PTE timesheets showing non-billable status if Project ID of None is changed to a valid Project before user tabs of off the line Incorrect billing status used when using the looking glass to select cost categories to add a new item to a multi-line timesheet PTE timesheet entry window slow when making edits to previously saved lines or adding new lines to existing timesheets Delegate for employees can see every Project Employee Expense for all employees in Navigation Windows. Purchasing tax amounts from GL entries are subtracting from boxes 2 and 7 instead of adding to boxes 4 and 7 on the VAT summary Sales returns and credit memos not deducting total taxable amounts from box 6 on VAT returns and voids from box 1 and box 6 Purchasing returns and credit memos, voids are not deducting total taxable amounts from box 7 on VAT Returns, and invoices not updating box 4 Changes to Payables forms 1099-DIV, 1096 and Payroll 1099-R (Pension) ACA 1095-C - format changes 3 boxes for name and ACA 1094-C - certification checkboxes moved Only need if you are printing ACA forms from Dynamics GP

6 2016 Fixes (version ) Intermittent workflow failure Purchasing tax amounts from GL entries are subtracting from boxes 2 and 7 instead of adding to boxes 4 and 7 on the VAT summary Sales returns and credit memos not deducting total taxable amounts from box 6 on VAT returns and voids from box 1 and box 6 Purchasing returns and credit memos, voids are not deducting total taxable amounts from box 7 on VAT Returns, and invoices not updating box 4 Changes to Payables forms 1099-DIV, 1096 and Payroll 1099-R (Pension) ACA 1095-C - format changes 3 boxes for name and ACA 1094-C - certification checkboxes moved Only need if you are printing ACA forms from Dynamics GP 2015 Fixes (version ) Changes to Payables forms 1099-DIV, 1096 and Payroll 1099-R (Pension) ACA 1095-C - format changes 3 boxes for name and ACA 1094-C - certification checkboxes moved Only need if you are printing ACA forms from Dynamics GP

7 Speaking of Versions... Support for GP 2013 and prior versions Has Ended so there will be no updates for this version GP2015, 2015R2 Mainstream Support for Microsoft Dynamics GP 2015 and Microsoft Dynamics GP 2015 R2 will end on 4/14/2020 which means that at that point in time, you will no longer receive tax and year end updates. Microsoft Dynamics GP 2015 will then move into Extended Support until 4/8/2025 GP2016, 2016R2 Mainstream Support for Microsoft Dynamics GP 2016 and Microsoft Dynamics GP 2016 R2 will end on 7/13/2021 which means that at that point in time, you will no longer receive tax and year end updates. Microsoft Dynamics GP 2016 will then move into Extended Support until 7/14/2026. GP2018 and R2 Consequently, if you are on GP2018 and install the YE update it will include GP2018R2 and all its new features Mainstream Support for Microsoft Dynamics GP 2018 will end on 1/10/2023 which means that at that point in time, you will no longer receive tax and year end updates. Microsoft Dynamics GP 2018 will then move into Extended Support until 1/11/2028. **Extended support for Microsoft Dynamics GP is included in the customers and partners standard support plans. Here is a link that provides more information as well on the Microsoft Dynamics GP Product Lifecycle: us/lifecycle/search?alpha=dynamics%20gp

8 Install and Upgrade Overview And Tips Overview All Updates are cumulative if you are on GP2018 you will now be on GP2018R2 If you are on GP2018R2 this is a major change, so please make sure you test the upgrade firs, customizations, 3rd party solutions and business process to verify everything is working as it should BEFORE doing it live. All prior service packs, hotfixes, compliance, and year end updates are included in the most recent release The update must be installed at all servers and workstations that have a Microsoft Dynamics GP installation otherwise a version error will occur Pre-Install & Upgrade Tips Backup the DYNAMICS database and all company databases Export all modified reports and forms to package files (Microsoft Dynamics GP Tools Customize Customization Maintenance) Backup the modified reports and forms.dic files (Refer to the Dynamics.set file for the path to the modified.dic files) Configure a test environment to test the upgrade prior to installing in the live environment especially if you are on GP2018 How do I? Links to Assist with the Following: Backing Up Databases Two Methods A Link to Information on Both is Here Configuring a Test Database Information Here How do I find my Modified forms and Backup? The simplest method for finding your modified forms and reports so that you able to back them up is to open your Dynamics.set file. o In Most installations it can be found at the location C:\Program Files (x86)\microsoft Dynamics\GP20XX\Dynamics.set Replace the XX with your version number ie GP2016

9 Install & Upgrade Tips User running the update must have local admin rights Two components to the first update installation: Update application install Upgrade DYNAMICS and all company databases in Microsoft Dynamics GP Utilities Typically, the update is installed at the SQL Server first to upgrade the databases in Microsoft Dynamics GP Utilities Verify the Microsoft Dynamics GP installation used to upgrade the databases includes all additional product installations If the installation of the MSP fails, refer to the Windows Installer Log or Windows Event Viewer for more information. Refer to KB for steps to create a Windows Installer Log Search for Return Value 3 in the Windows Installer Log If the installation of the MSP fails, try installing via the command line. Refer to KB #A13 for steps Enable a Dexsql.log prior to upgrading the databases in Utilities. Refer to KB for steps If the database upgrade fails, do not restore the databases as all troubleshooting can take place at the point of failure If a red X appears next to the company name in the Update Company window, the table conversion failed. Refer to the Support Information Section of the Upgrade Hot Topic GP 2015 or GP 2016 or GP 2018 for troubleshooting steps All modified reports and form dictionaries must be upgraded using the Update Modified Forms and Reports process at the Additional Tasks window in Microsoft Dynamics GP Utilities If all modified reports and form dictionaries are shared, only upgrade the dictionaries once Post-Install & Upgrade Tips Backup the DYNAMICS database and all company databases following the upgrade Export all modified reports and forms to package files following the upgrade (Microsoft

10 Dynamics GP Year End Close

11 The Planning Stage SELECT AN OPTIMAL TIME to do the year-end closing. Plan for adequate time before the next critical task needs to be performed. DEVELOP A WORK PLAN a detailed and step by step work plan for your year-end closing will help to ensure that no vital steps of the closing are left out. DEVELOP A CONTINGENCY PLAN- There can be an instance where things might not proceed as planned. Please have a contingency plan established if such a situation should arise. This contingency plan MUST include having a complete backup of Dynamics GP and data that can be easily restored if it is necessary to get up and running again. Steps to Complete Before Year End Back up all existing data and code. Be sure this backup can be restored if necessary. (OPTIONAL) Perform Check Links procedures on all tables. This will ensure that data is at the highest integrity before you perform the year-end closing. POST CLOSING: Make a second backup after the year-end close. If you need to restore from a backup, you will have a backup after the year-end close that can be restored. If you do not make this backup, you would be forced to restore a backup from before your year-end closing and then redo the year-end closing again. Summary of Year End Closing Procedures Close Modules in a Specific Order Close Inventory Management Close Receivables Management Close Payables Management Close Fixed Assets Review Analytical Accounting Settings (If Used) Close General Ledger Note: Payroll has a separate and unrelated year end close to the other modules Please note that the following modules do not have a year-end closing routine: Sales Order Processing Purchase Order Processing Bank Reconciliation Multicurrency Human Resources Project Accounting Service Call Management Contract Administration Preventive Maintenance

12 INVENTORY YEAR END CLOSE

13 Inventory Control Year End Closing Changes Made in Inventory this Update: The 2018 Year End Update does not contain any changes for Inventory Control When Should the Year End Close be done? Inventory Module should be closed at the end of your FISCAL year, before any new transactions that would affect inventory are posted There is NO Calendar Year End Close for Inventory What Does the Year-end Close Process do and/or Affect? Transfers all summarized current-year quantities, costs, and sales amounts to last-year, for the items which you are maintaining summarized sales history. Updates each item s Beginning Quantity, from the Quantity on Hand, at each site. Zeros the Quantity Sold field in the Item Quantities Maintenance window (Cards >> Inventory >> Quantities/Sites) for each site. Gives you options to: o Remove discontinued items o Remove sold purchase receipts o Remove sold lot attributes o Update items standard cost What steps should I take to close the Year? Enter and post all Purchase Order Processing, Invoicing/Sales Order Processing, Project Accounting, Bill of Materials, Field Service and Manufacturing transactions (If you are using these modules in conjunction with Inventory) Post all inventory transactions for the year Reconcile Inventory quantities (SOP and POP first, if using those) Complete a physical inventory count and post any adjustments Print additional reports Make a backup Close the year Close the fiscal periods for the Inventory series (optional) Make a final backup FOR MORE INFORMATION FOLLOW THIS LINK: Microsoft Inventory Close Procedures

14 Inventory Year End Closing Tips: The year-end close must be done before any transactions for the new year have been posted. If you are using SOP and or POP, reconcile these modules in addition to the Inventory Module PRIOR to closing. Use this order: o SOP o POP o Inventory You have the option of marking Discontinued Items, Sold Receipts, or Sold Lot Attributes. If marked, all items, sold receipts or sold lot attributes that have a zero balance will be removed during the year-end closing process. If you mark Update Item s Standard Cost, the standard cost for any items that have been assigned the FIFO Periodic or LIFO Periodic valuation method will be adjusted automatically to reflect each item s current cost, which is the amount you most recently paid for the item. There is no Year-End Closing report for Inventory. However, Year-End is an opportune time to implementing the Historical Inventory Trial Balance (HITB) Report What are some of the related KnowledgeBase articles that can be referenced? KB : Year-End Closing procedures in Inventory Control in Microsoft Dynamics GP KB : Information about the order in which the reconcile procedures should be run in Microsoft Dynamics GP KB : Inventory Accidentally Closed Twice KB : Inventory year end close does not remove discontinued items

15 Closing Receivables

16 Receivables Management Year End Closing Changes Made to AR this update There are No changes included in the 2018 YE Update that will affect Receivables Management When Should the Year End Close be done? If you are on a Calendar Year, the YE process should be done at the end of your calendar year, PRIOR to posting any transactions in the next calendar year If you are on a Fiscal Year, the YE process should be done at the end of your calendar year, PRIOR to posting any transactions in the next Fiscal year What Does the Year-end Close Process do and/or Affect? Receivables Management is not completely date sensitive. It would still be the best option to process your year-end closing routine at the actual year-end. If you do not close the year in Receivables Management before you post transaction to the next year, the Customer Summary and the Customer Yearly Summary Inquiry windows will display incorrect information. The Calendar year end close clears the Calendar Year- to-date Finance Charges and moves them to the Last Year Calendar field in the Customer Finance Charge Summary window found under (Cards >> Sales >> Summary >> Finance Charges). The Fiscal Year end close transfers all amounts other than the Calendar Year-to-Date Finance Charges to the Last Year column in the Customer Summary window (Cards >> Sales >> Summary). o The following items are updated based on the closing of Receivables Management: o The SmartList objects o The Receivables Management summary reports o The Amounts Since Last Close view in the Customer Summary window What steps should I take to close the Year? Post all the sales and receivables transactions for the year. Make a pre-year-end closing backup. Close the year. Close the fiscal periods. (This step is optional.) Close the tax year. Make a post-year-end closing backup. FOR MORE INFORMATION FOLLOW THIS LINK: Microsoft Receivables Close Procedures

17 Receivables Year End Closing Tips Receivables Management is not completely date sensitive. It would still be the best option to process your year-end closing routine at the actual year-end. If you do not close the year in Receivables Management before you post transaction to the next year, the Customer Summary and the Customer Yearly Summary Inquiry windows will display incorrect information. o The calendar and fiscal year-end close must be performed on the appropriate date before any transactions are posted for the new year if you use SmartList or Customer Summary reports. Backup, Backup, Backup What are some of the related KnowledgeBase articles that can be referenced? KB : Year-end closing procedures for Receivables Management in Microsoft Dynamics GP KB : Information about performing the year-end closing procedure in Receivables Management in Microsoft Dynamics GP after December 31

18 Payables Year End Now it s getting fun!

19 Payables Management Year End Closing Changes Made to AP This Update: There ARE Changes to Payables Management YE 2018 o The 1099-DIV form was updated o The 1096 form was updated 1099-DIV Box 5 (Section 199A dividends) has been inserted in to a previously blank space. Box 5 was previously Investment expenses. Investment expenses is now Box 6. All subsequent boxes have been incremented: Box 7: Foreign Tax Paid (In 2017 Box 7 was Foreign country or US possession) Box 8: Foreign country or US possession (In 2017 Box 8 was Cash liquidation distributions) Box 9: Cash liquidation distributions (In 2017 Box 9 was Noncash liquidation distributions) Box 10: Noncash liquidation distributions (In 2017 Box 10 was Exempt- internet dividends) Box 11: Exempt-internet dividends (In 2017 Box 11 was Specified private activity bond interest dividends) Box 12: Specified private activity bond interest dividends (In 2017 Box 12 was State) Box 13: State (In 2017 Box 13 was State identification no.) Box 14: State identification no. (In 2017 Box 14 was State tax withheld) Box 15: State tax withheld (In 2017 this box did not exist) 1096 Form There new option boxes. Additionally, there are now 17 boxes on the bottom two lines (previously there were 15): o 1099-LS 16 o 1099-SB 43 The following tables have been converted to accommodate the form changes noted above. : o POP10300 o POP30300 o PM40104 o PM00200 o PM00204 o PM10000 o PM10200 o PM20000 o PM20100 o PM30200 o PM30300

20 When Should the Year End Close be done? The Calendar Year End Close Routine should be run at the end of the Calendar year prior to posting transactions in the new year The Fiscal Year End Close Routine should be run at the end of the Fiscal year prior to posting transactions in the new year What Does the Year-end Close Process do and/or Affect? In the Vendor Yearly Summary Window: o Calendar close- transfers the 1099 Amounts from Year to Date Column to Last Year column in the Amounts Since Last Close view o Fiscal close transfers all other amounts from the Year to Date column to the Last Year column in the Amounts Since Last Close view If the Year to Date or Last Year amounts are incorrect in the Amounts Since Last Close, please contact support for scripts that can be run to correct this. These amounts affect SmartList columns that contain this information as well The Vendor Summary Report is also affected by these fields What steps should I take to close the Year? Post all transactions for the calendar year Print a Historical Aged Trial Balance with Options Report Print the Vendor Period Analysis Report (if you are closing Fiscal Year) Install the Payroll Year-End Update (Optional) Make a backup and name it Pre-1099 Edits Print and verify the 1099 statements using the Print 1099 window and the Edit List Make a backup and name it Pre Year-End Close the calendar year or Fiscal Year using the Payables Year-End Closing window Close the fiscal periods for the Payables Management module (optional) Close the tax periods for the year (optional) Make a final backup and name it Post Year-End FOR MORE INFORMATION FOLLOW THIS LINK: Microsoft Payables Close Procedures Payables Year End Closing Tips All transactions for the calendar year should be posted and the 1099 forms should be printed before closing the calendar year. When you print the 1099s, the information is pulled from the period information. Payables Management is not fully date sensitive. It is recommended that you process your yearend closing routines at the actual year- end. Vendors should be marked as 1099-able at the time transactions are posted/paid for 1099 information to auto-populate Use this KnowledgeBase to correct this. You can post a transaction to a prior or subsequent year and it will not affect your current year s 1099 information or Vendor Financial Summary reports.

21 The 1099 information pulls from the PM Vendor Master Period Summary table (PM00202). If a Vendor is not mark as a 1099 vendor at the time a transaction is paid you can use the 1099 Details window to update this information (Purchasing>Cards>1099 Details) When posting transactions, the system will automatically post to the correct fiscal and calendar years according to the dates of the transactions. Therefore, you do not have to run the calendar year-end and fiscal year-end on the last day of the calendar or fiscal year, unless you use SmartList or Vendor Summary Reports. SmartList and Vendor Summary Reports pull data from the Amounts Since Last Close view as it appears in Purchasing>Cards>Summary. The Amounts Since Last Close is the total of the amount since the calendar and fiscal year was last closed. To make sure these reports display the correct amounts, you must close the calendar year and fiscal year before posting transactions to the new year. The Calendar Year Summary view and the Fiscal Year Summary View (Purchasing>Cards> Summary) will display the correct amounts for the year regardless of whether the year has been closed or not. Close your tax year as well this is recommended in both payables and receivables, but only needs to be done once. IF YOU NEED TO EDIT 1099 s watch this awesome video on how to edit and print 1099 s in GP. It s an oldie but a goodie

22 Fixed Assets Year End Close

23 Fixed Assets Year End Closing Changes Made to Fixed Assets this Update Oddly, there are no changes to Fixed Asset this year Enjoy!! (that s right no Luxury Auto Max Depr Deduction amounts changes weird, right?) There is also no new functionality added this year but remember that in GP2015 a new FA Year End Closing report was added. When Should the Year End Close be done? Fixed Assets Year End Close should be processed after Payables Management is closed, and before closing the General Ledger Each book can be closed separately, but ALL books must be closed before you can do any processing in Fixed Assets for the new year What Does the Year-end Close Process do and/or Affect? In the Asset General Information Window (Cards >> Fixed Assets >> General): o The YTD Maintenance amount is cleared from the Expand last Maintenance Date Window o The Quantity is copied to the Begin Quantity field in the Expand Quantity Window In the Asset Book Window (Cards >> Fixed Assets >> Book): o The YTD Depreciation Amount is cleared o Cost Basis is copied to Begin Year Cost field o Life to Date Depreciation is copied to Begin Reserve field o Salvage Value is copied to Begin Salvage field In the Book Setup Window: o The Current Fiscal Year is incremented to the next year What steps should I take to close the Year? Perform all the Year-End Closing Procedures for Payables Management Enter all the fixed asset transactions for the current fiscal year Depreciate all assets through the last day of the current fiscal year Perform the GL Posting process (*Optional) Run any year-end reports that you want to keep with your financial records Guarantee that the Fixed Assets calendar is built correctly (*Optional) Verify that the quarters are set up correctly for all fiscal years Create a backup Perform the Fixed Assets Year-End Closing Routine FOR MORE INFORMATION FOLLOW THIS LINK: Microsoft FA Close Procedures

24 FA Year End Closing Tips You Must Depreciate ALL Assets before running the close process EXTREMELY IMPORTANT You must close every one of your FA Books If you accidentally close the GL First it is Okay to go back and close Fixed Assets and post to your historical year (if posting to historical years is allowed in your GL setup) Double and triple check your Fixed Assets Calendar to reduce stress! If even one day remains in the FA Calendar for the year, then the next years first depreciation will be overstated by an entire year NOTE: the last day of the FA year can be confirmed by going to Financial>Setup>Fixed Assets>Calendar Reminder - DO NOT FLIP the 'Current Fiscal Year' in the Book Setup window: o Please DO NOT manually edit the year in the Book Setup window so you can run depreciation for the next year, and then 'flip it back' and proceed to close the current year. o If you do this, the year-end process will set the YTD Depreciation field to zero and then at the end of the next year, the GP code will look to this YTD field to see if enough depreciation has been taken for the year and not see the depreciation you had already done in the new year. This will cause your assets to over-depreciate at the end of the next year to try make up for the missing amounts in the YTD field (this manifests as doubled/tripled depreciation amounts in the last period of the year). For this reason, the Current Fiscal Year field in the Book Setup window has been locked down in Microsoft Dynamics GP 2013 and later versions.

25 Analytical Accounting Close

26 Analytical Accounting Year End Changes Made to Analytical Accounting This Update: There are NO changes included in the 2018 Year-End Update that will affect year-end processing for Analytical Accounting. When Should the Year End Close be done? There is no separate year-end close process for AA. It automatically closes along with the GL year-end close, so any steps to check AA data should be done prior to closing the GL year. You should, however always VERIFY AA data is accurate prior to closing the GL What does the GL Year End Process do in AA? Moves AA data from open tables (AAG30000-AAG30003) to the history tables (AAG AAG40003) Creates Balance Brought Forward (BBF) entries in the AAG30000 series tables Consolidates balances and ties AA codes to the BBF entries for the AA dimensions that were marked to be included in the year-end close What steps should I take to close the Year? Determine if Financial Reports Use AA Verify AA Data for Overlapping Years (Open Below Link for Scripts) Verify the Years Between Open/Historical Tables Match Between AA/GL (Open Below Link for Scripts) Check AA Tables for Overlapping Header IDs (Open Below Link for Scripts) Update AACOPYSTATUS Values (Open Below Link for Scripts) Review Setup for Dimensions to be Included In Year End (Open Below Link for exact steps) Verify AA Account Master (Open Below Link for Scripts) Run Test Close Check If Unit Accounts Cleared (GP 2013 & GP 2015 Only) (Open Below Link for Scripts) Verify Balance Sheet Reports FOR MORE INFORMATION FOLLOW THIS LINK: Microsoft AA Close Procedures o You will need to follow this link to acquire a number of helpful scripts

27 Key Points to Remember If your Financial reports need to pull data from AA tables, (such as Management Reporter Data Mart), be sure to give yourself plenty of time to go through all the information in KB Article before you close the General Ledger year.verify AA Data for Overlapping Years (Open Below Link for Scripts) If the AA data does not match General Ledger data, and financial reports are pulled from AA tables: This could skew your Financial reports (when AA tables are not consistent with General Ledger) and you won't balance to the General Ledger Trial Balance reports. Missing or duplicated data in the AA tables can skew the beginning balance entries created in the AA tables. The first step is to determine if your Financial reports use the AA tables or not. If you do use AA tables or Management Reporter, it is highly recommended to run through KB to help look for mismatched data between AA and General Ledger that should be corrected before closing the General Ledger year. What steps should I take to have AA included in the General Ledger Year-end close and BBF entries created in AA? o In order to have AA codes tied to your beginning balances created by the General Ledger year-end close, you must first verify that the following options are selected: o In the Analytical Accounting Options window (Microsoft Dynamics GP >> Tools >> Setup >> Company >> Analytical Accounting >> Options), mark the checkbox for Include dimensions in the year end close and click OK. o In the Transaction Dimension Maintenance window (Cards >> Financial >> Analytical Accounting >> Transaction Dimension), select the AA dimension code you want a balance carried forward for, and mark the checkbox for Consolidate balances during Year End close and click Save. Do this for each Transaction Dimension you wish to have linked to the beginning balance entries create by the General Ledger year-end close process. With the release of Microsoft Dynamics GP 2015, the user can determine the data that is available to the Microsoft Dynamics Management Reporter Data Mart to help improve the performance and give the user control over the data selected. Note that the Data Mart CU10 and up does have the option to report with or without AA data. Make sure the General Ledger year-end close is performed at a workstation that has AA installed and activated, and that users know not to disable AA if they receive any messages. Restore to the backup immediately and make a screen print of the AA error message if assistance is needed with the General Ledger year-end close process. Analytical Accounting Year End Closing Tips This Process is unnecessary unless you have AA installed and functioning AA automatically closes with General Ledger Run through scripts in KB Management Reporter (Data Mart) reads from AA tables Make sure AA is installed and enabled on the workstation where GL is being closed! Make a backup

28 General Ledger Let s Close it Up!

29 General Ledger Year End Closing Changes Made to General Ledger This Update: No Changes This Year! When Should the Year End Close be done? The General Ledger year end close should be done after you have completed the year end close process for ALL other modules What Does the Year-end Close Process do and/or Affect? The year-end close routine moves all open year transactions from the GL20000 table to the GL30000 table Creates balance brought forward (BBF) journal entries are created in the GL20000 Removes inactive GL accounts without a balance/history. GP 2013 R2 and up will also clear out Unit Accounts if marked The Profit and Loss (P&L) accounts are rolled into Retained earnings account(s) if you close to one Retained Earnings account, or with the amount from the P&L accounts in that division if you close to divisional Retained Earnings P&L accounts have a zero balance at the beginning of the new year The balances for all Balance Sheet accounts are rolled forward to the new year The beginning balance in the new year for BS accounts will be the same as the ending balance from the prior year you are closing The Fiscal Period tables are updated to mark the year just closed as a historical year Automatically closes Analytical Accounting Year-end Close Report prints (cannot reprint) What steps should I take to close the Year? Complete posting and closing procedures for other modules Post final adjusting entries in General Ledger Print Account List to verify the Posting Type of each account Close the last period of the fiscal year (optional) Perform File Maintenance on the Financial Series group of modules (*Optional) Verify General Ledger settings Make a backup Print a final Detailed Trial Balance Report Print final year-end financial statements Set up a new fiscal year Have all users EXIT GP Close the fiscal year (have someone do it directly on the server) Close all fiscal periods for all series (optional)

30 Adjust budget figures for the new year and print financial statements Make a backup FOR MORE INFORMATION FOLLOW THIS LINK: Microsoft GL Close Procedures General Ledger Year End Closing Tips ALWAYS have a current backup before you close the year! If you receive any errors during the year-end close process, take a screenshot of the error message, and restore to a backup immediately. o Follow ALL the steps in KB Have all users out of Dynamics GP when you perform the year-end close process. Perform the year-end close process at the server. Make sure there is enough room for the files to double in size at one point during the year-end close process. The year-end close routine does appear to hang at 50%, but it is still processing, so let it run to completion Understand your Posting Types and What they do BEFORE you run Year End Use a SmartList to Help You It is always recommended to perform the year end in a test company first Understand Closing to Divisional Retained Earnings If you use Analytical Accounting and/or Currency Translation, it will take longer to complete be patient Some users elect to 'turn off' Currency Translation (Microsoft Dynamics GP >> Tools >> Setup >> Financial >> Multicurrency) prior to closing the year, and then set up currency translations again after the year is closed to speed up the year-end closing process. MR Legacy Users: See KB for detailed currency translation information (specifically refer to the section pertaining to 'entering translated beginning balances') MR Data Mart Users: See KB for detailed currency translation information If you run into issues or have any question whatsoever, get help! The BBF JE s are dated in Period 0 of the following year This year it will be Period 0, 2018 Though you cannot reprint the YE Close Report you CAN use SmartList to compile a report on Period 0 of 2018 which will give you similar data or re-run the JE that was created at the Year End What are some of the related KnowledgeBase articles that can be referenced? KB : Changing the posting type on an account after you close the year KB : Query to clear beginning balances for unit accounts (new options in GP 2013) KB : How to set up an adjusting period KB : How to use divisional retained earnings accounts KB : Retained Earnings account not found KB : General Ledger year end close still in process and batches cannot be posted KB : Inactive GL Accounts deleted during YE Close process for GL in Dynamics GP

31 US Payroll Year End Here we go

32 Payroll Year End Closing Changes Made to Payroll This Update: Yes, the 1099R (Pension) form functionality was changed o Distribution Codes C and M have been added for Box 7, and can now be entered on Edit 1099-R window. These codes and amounts associated with them will be printed on the Print 1099-R form. There are NO W-2, W-3, or W-4 form changes! YEAH! There are NO EFW2 form changes! There ARE Affordable Care Act changes. See Terry s ACA blog (link available when released) for more information around those changes. When Should the Year End Close be done? After ALL current year pay runs are complete After making a backup Before processing pay runs in the new year What Does the Year-end Close Process do and/or Affect? Creates the Year End Wage file which contains annual wage information used to generate W2 s, W3 s, 1099 s, EFW2 s (aka Magnetic Media), 1095-C s and 1094-C s for the year being closed. What steps should I take to close the Year? Verify you have installed the latest 2018 payroll tax update Complete all pay runs for the current year. Complete all month-end, period-end, or quarter-end procedures for the current year.

33 Make a backup of the original file. Install the Year-End Update if it has not already been installed (we release early to give you plenty of time so install early if you can!!). Create the Year-End Wage file. Make a backup of the new file. Verify W-2 and 1099-R statement information. (Optional) Print the W-2 statements and the W-3 Transmittal form. (Optional) Print the 1099-R forms and the 1096 Transmittal form. (Optional) Create the W-2 Electronic file. (Optional) Archive inactive employee Human Resources information. Set up fiscal periods for 2019 (if they haven't been set up yet). (Optional) Close fiscal periods for the payroll series for (Optional) Install the payroll tax update for 2019 *Make sure all 2018 pay runs are completed prior to this step! * Install the payroll tax update (2019 Round 1 Tax Update) for FOR MORE INFORMATION FOLLOW THIS LINK: Microsoft PR Close Procedures Payroll Year End Closing Tips The deadline for EFW2s (aka Magnetic Media) is 1/31/2019. As such, both W-2's and EFW2's are due the same day. We recommend you verify both your W-2 and EFW2 well before this deadline to ensure you have adequate time to validate your data It is OKAY to install the 2018 YE Update even though 2018 payrolls are not completely processed. o It s NOT okay to install the 2019 tax tables, which should be released in mid-december 2018 This update is ALL INCLUSIVE of prior updates o If you are on GP2018 currently you will be on GP2018R2 with this update o Please make sure that you test the update thoroughly, especially if you have a highly customized GP System architecture. The 2018 Year-End Update and 2019 Tax Updates (tax table updates) will not be available for Microsoft Dynamics GP 2013 and prior versions. IF you use Microsoft Dynamics GP to track ACA, the 2017 Year-End Update is not optional. It is required, and needs to be installed prior to closing the year in Payroll With the release of Microsoft Dynamics GP 2016 R2, you have the ability print W-2's with lines on blank paper. o The 1-Wide Forms with Box option To check your tax table update date, click on Microsoft Dynamics GP, point to Tools, point to Setup, point to System, and click on Payroll Tax. Here are some W2 tidbits to help with the Jan 31 deadline With the release of the 2015 Year End Update for GP 2015, you can control 'when' employee self-service users are able to access W-2 information!! To enable this feature, the 'Publish to Employee Self Service' field was added to the Print W-2 Forms window (Microsoft Dynamics GP

34 >> Tools >> Routines >> Payroll >> Print W-2's): When a year is closed in the Payroll module, Microsoft Dynamics GP populates the Payroll Year End Wage tables, which are used to generate the Year-End Wage file to generate your W-2 s and W-3!! Editing and changing W-2 Information is fairly simple o Manually edit the W-2 Information by going to Payroll>Routines>Edit W-2 (this is the preferred method by most users Changes made here will update the Payroll Year End Wage Tables ONLY and are not reflected in any other historical tables in GP s Payroll Module If you remove the YE Wage file for any year, all edits made this way are lost o If the above method won t work you can remove the YE Wage file, make changes in payroll and recreate the YE Wage file. Go to Payroll>Utilities>Remove Year End Information Reinstall prior tax tables if necessary, you can find prior tax tables: Here for GP 2018 Here for GP 2016 Here for GP 2015 Make the necessary changes in payroll and post Voiding checks, processing checks, fixing W-2 labels, etc. One all data is accurate just re-close the year again (2018 tax tables recommended) Verify the YE Wage file is now correct and print and file W-2s Make another backup and re-install any more recent tax tables Frequently Asked Questions on Payroll YE in Dynamics GP What will happen if I have deductions and/or benefits set to print in the same box on the W-2 statement with the same label? o The amounts will be combined and print as one total. Deductions, benefits, and/or pay codes are doubled/tripled on my W-2 s! Why, and how can I fix this? This may also manifest with the following errors when you create the year end age file: Payroll Year End - UPR_Year_End_WORK_Other failed. A record was already locked or Payroll Year End - UPR_Year_End_WORK_Special failed. A record was already locked o This happens when the same W-2 label has been assigned to a particular pay code, benefit, or deduction more than once (you can assign up to 4 W-2 labels to each code). Please utilize the AWESOME blog Benefit, Deduction and/or Pay Code Amounts

35 are Doubled on My W-2s to find and remove the problem duplicates so you can recreate your Year End Wage file with appropriate amounts! The record lock error seems to cause issues when we have many deductions and benefits assigned to employees with codes they are not using (zero amount for the year). You will be able to tell by the error message which employee is stopping the process and review their labels, especially look at duplicate labels for benefits and deductions and if they are needed, if not, remove. Example script check for box 14 and 12 labels select W2BXNMBR, W2BXLABL, * from UPR00500 where EMPLOYID='XXX' select W2BXNMBR, W2BXLABL, * from UPR00600 where EMPLOYID='XXX' Also look at life to date amounts make sure there are no negatives. select LTDDEDTN, * from UPR00500 where EMPLOYID='XXX' Box 1 on the W-2 does not match Federal Wages in the Employee Summary window. Why, and how do I fix this? o It can be normal for Box 1 to differ from the Federal Wages in the Employee Summary window. All pay codes are added to Gross under Cards >> Payroll >> Summary, even if the federal box is not marked on the pay code. However, most users do want these two values to match. The calculation for Box 1 of the W-2 is as follows: Gross Wages (from Employee Summary window) + YTD Benefits subject to Fed tax + Reported Tips + Charged Tips YTD TSA Deductions This is explained in more detail in the W-2 Data Source Document: The only time a pay code is not added to Gross is when the pay code is a Business Expense pay type marked not to be included as wages, or when the pay code is a 'Pension' pay type. It is very common for users to think pay codes not marked as subject to federal tax will not be included in Box 1. However, that is not the case. If you do not want a pay code amount to be included in box 1 you should set it up as a business expense pay code pay type. Most commonly, users will see amounts in this field updated with unexpected amounts when: A pay code was not marked to be subject to federal wages, so you aren t expecting the value to be included in Box 1. A deduction, a benefit, or a pay code may have been changed so that it is taxed instead of not being taxed, or vice versa. This change causes a difference in federal wages in Form 941/W-2 s and the Payroll Summary report. This change is not corrected during the reconcile process. A manual check was processed incorrectly (taxable wages and tax amounts not recorded). See KB for more information around what can cause unexpected federal wages differences, along with how to fix the problem. Where should I report the cost of coverage of an employer-sponsored group health plan on the

36 W-2? o Applicable employer-sponsored group health plan values should be reported in Box 12 DD on the W-2. For more details see: reporting-of-employer-sponsored-health-coverage To add a W-2 box and label to a particular Employee Deduction: Navigate to Cards >> Payroll >> Deduction. Pull up the appropriate Employee ID, and the appropriate Deduction Code. Next to W-2 Box: Use arrows to navigate to desired W-2 box space, and enter the appropriate W-2 box. Next to W-2 Label: Enter appropriate W-2 label. o Remember: There are 4 possible labels available for every deduction, so verify the label is assigned only once to avoid duplication of values See FAQ 2. To add a W-2 box and label to a particular Employee Benefit: Navigate to Cards >> Payroll >> Benefit. Pull up the appropriate Employee ID, and the appropriate Benefit Code. Next to W-2 Box: Use arrows to navigate to desired W-2 box space, and enter the appropriate W-2 box. Next to W-2 Label: Enter appropriate W-2 label. o Remember: There are 4 possible labels available for every benefit, so verify the label is assigned only once to avoid duplication of values See FAQ #2!! What is the source of the Employer Identification Number that appears as a default in the Print W-2 Forms window? o The EIN number is the federal or state ID entered in the Unemployment Tax Setup window (Microsoft Dynamics GP menu >> Setup >> Payroll >>Unemployment Tax) in the Unemployment Tax ID field. In both the Edit W-2 Information and the Print W-2 Forms windows, there is a list used to select the year. Is there a limit to the number of years available? Also, is each year added to the yearend wage file, or does each year have separate year-end wage files created during the yearend closing process? o No, there is no limit to the number of years available. During the Payroll year-end closing process, the year-end wage file is created. Multiple years of history can be saved. If you choose the same year twice when performing the process, the previous file will be replaced by the new file. As long as the correct year is entered each time, the new year s information will be added to the file. This information can be cleared using the Remove Payroll Year-end Information window. If I add information in the Edit W-2 Special Information window (Special button in the Edit W-2 Information window) without entering information in the Edit W-2 Information window, where will that information appear? o Microsoft Dynamics GP will print this special information on the additional W-2. How do I print W-2 statements for Medicare Qualified Government employees? o The W-2 statements for Medicare Qualified Government Employees are printed separately from standard W-2 statements. To print W-2 s for MQGE employees, simply select the Medicare Qualified Government Employee option in the Employee Type box in the Print W-2 Forms window (Microsoft Dynamics GP menu >> Tools >> Routines >> Payroll >> Print W-2s). I need to file W-2 corrections via a W-2c with the IRS. Can I print the W-2c in Microsoft Dynamics GP? o Microsoft Dynamics GP does not currently print the W-2c form. If you would like to see this functionality included in a future release, we encourage you to vote on a product suggestion for this: Note: Jat Software does offer additional functionality around this. What is the source of the Employer Identification Number that appears as a default in the Print

37 W-2 Forms window? o The EIN number is the federal or state ID entered in the Unemployment Tax Setup window (Microsoft Dynamics GP menu >> Setup >> Payroll >>Unemployment Tax) in the Unemployment Tax ID field. Can a W-2 be reprinted at the end of the year for an employee that had a W-2 print during the middle of the year, who is now inactive? o Yes, W-2s printed for inactive employees during the year will be reprinted when W-2s are printed at year end Must the employee record be inactive before a special W-2 can be printed before the year end? o Yes If I have employees that receive two W-2s because they have additional state, local tax, deductions or benefit information, will any other information print on the second W-2? o No, the only information that will print on the second W-2 is the employee address information, employer address information, and the additional information. In edit W-2 s, what happens if I add some special items using the special button, but there is nothing on the first window? o It will print this information on the additional W-2. But, keep in mind that the W-2 will not print without wages. If a user needs to print a W-2 with only information in the special box, then they would need to manually process that W-2. If your employer state ID number and employer unemployment ID numbers differ, do you need make changes to any information to print the employer state ID on the W-2s? o Dynamics GP allows you to maintain state ID numbers separate from unemployment ID numbers. So you won t need to manually change the number back to your Unemployment ID number after creating the Year-End Wage file, or enter the Employer State ID number for each applicable employee s W-2 information. You can verify the Employer State ID number is correct by referring to the Payroll Tax Identification Setup window (Microsoft Dynamics GP >> Tools >> Setup >> Payroll >> Tax ID). Is Microsoft Dynamics GP going to make changes to accommodate locality + municipal code around local tax labels (ex: Ohio, Pennsylvania, etc.) on the W-2? o No, there were no changes made in Microsoft Dynamics GP. With that being said, you can certainly modify the Locality field in the Edit W-2 Local Tax Information window (Microsoft Dynamics GP >> Tools >> Routines >> Payroll >> Edit W-2s >> Local button). However, the Locality field is limited to 6 characters. If you require more than 6 characters to accurately reflect your Locality + Municipality, Greenshades does offer additional functionality around this. I need to reprint a W-2 from a prior year. Can I do that in Microsoft Dynamics GP? o Yes, you can! You can print a W-2 for a prior year if the Year-End Wage file (Year-End Wage tables) still exists for that year. Simply choose the appropriate year from the Year drop down field in the Print W-2 Forms window. What determines how many W2 s to print for an employee? o Once you create the payroll year end wage file and then print your W2 s to screen. If you do a select on the UPR10101 table for the employee look at this column w2bfsttl It will be assigned an A, B, C, etc to determine how many W2 s to print. select w2bfsttl, * from UPR10101 where EMPLOYID='ACKE0001' AND RPTNGYR='2018' For a few of my W2 s, I m getting an extra W2 for no reason and it is blank, WHY? o This usually happens because of local taxes. You can query the UPR10106 table and for this employee that is printing a blank W2, verify they have a Sequence number of 1, 2 or 3, if they are missing a 1, that could be the problem. Sequence Number 1 pulls the local tax from Cards Payroll Tax, the field Local Tax Code. If you have a local tax code listed that is inactive for this employee and has no YTD wages, we can see this causing

38 an issue on the W2. This should be blank (if you are automatically calculating local taxes) or set it to an active local tax for the employee that has YTD data. select SEQNUMBR, * from UPR10106 where EMPLOYID='ACKE0001' AND RPTNGYR='2018' What are some of the related KnowledgeBase articles that can be referenced? Download the YE Updates and Listing of Changes W-2 Wage and Tax Statement Details Order Tax Forms for This Year IRS Forms and Publications SSA Instructions for Filing W-2 Electronically General Instructions for W-2 and W-3 for 2018 The W-3 Form for 2018 SSA s AccuWage Online Microsoft Year End Payroll Blog

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