Step 1: Determine whether you need to install the year-end update.
Installing the year-end update is required if you are:
- Using GP HR features for Affordable Care Act (ACA) & producing 1095-C reports from GP
- Creating Payroll Electronic EFW2 file from GP
- Using Fixed Assets module for luxury auto depreciation
- Using Canadian Payroll. (Wait for the Canadian Payroll year-end update to be released mid-to-late December, which is all inclusive of U.S. changes as well.)
It is optional to install this service pack if you are:
- Not using GP Electronic Filing or using a companion product to create the EFW2 file
- Not required to produce 1095-C reports or you are using a companion product to GP for ACA reporting
- Not using Fixed Assets module for luxury auto depreciation
Changes in the year-end update are all-inclusive of all prior releases of Microsoft Dynamics GP. The year-end update addresses:
- Payroll Magnetic Media EFW2 file changes
- Affordable Care Act updates and Form 1095-C changes
- Fixed Asset luxury auto depreciation changes
- Product Quality Fixes around Payroll Year-End and all Microsoft Dynamics GP modules
- No W-2 or W-3 Form changes
- No 1099-MISC form and application changes
For more complete information of changes included in the year-end updates, click here.
Step 2: Download the appropriate service pack from CustomerSource, if needed:
Step 3: Please carefully review the information found in these links for valuable tips about how to prepare for and ensure a smooth payroll year-end:
Step 4: Learn from the available blogs in the GP Community:
The Microsoft Dynamics Community blog is a great resource for all things surrounding GP.
You can also turn on ‘Connect’ within Dynamics GP on your Home Page where you will find a wealth of year-end information.