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Microsoft Dynamics GP 2020 Year-End Update: What You Need to Know

By: Michael Marinaro on November 23, 2020

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Microsoft Dynamics GP 2020 Year-End Update: What You Need to Know

ERP and CRM Systems

It’s that time of year! Microsoft Dynamics GP users are on the lookout for the annual year-end update. The 2020 year-end update is now available for Microsoft Dynamics GP 2016 and later.

This update includes the following changes needed for processing year-end forms in Payables Management and Payroll:

  • Utility to migrate 1099 vendors from MISC to NEC
  • Update to Form 1096 for 1099-NEC totals
  • New 1099-NEC form and updated 1099-MISC form
  • Payroll Box 14 to report COVID pay on W2s
  • Payroll 941 format changes
  • ACA form and instruction changes
  • Fixed Asset Luxury Auto Depreciation changes

In addition to the year-end updates for Payables Management and Payroll, this update brings many of the fixes from the 18.3 update to GP 2016 (and fixes a few issues in the current version of Dynamics GP).

Most importantly, it fixes the Word template preview issues, which we covered at our recent GP User Group

Keep in mind that if you use any third-party products, you should double-check with those vendors to be sure they are compatible with the latest update.

Need Help?

Ready to schedule your year-end update? Feel free to connect with us online or give us a call at 410.685.5512.

Also, be sure to join us on December 4 for our year-end closing webinar. Register here.

Register Now: GP Year-End Closing Webinar

 

About Michael Marinaro

With years of experience consulting with clients on ERP software, including Microsoft Dynamics GP, Sage 300 (formerly Sage Accpac), and Sage 100 (formerly Sage MAS90/MAS200), Michael enjoys helping businesses save time and increase efficiencies by integrating systems together. Anyone who has ever worked with Michael knows that he is passionate about getting the most out of any software package. Michael admits that he cannot escape his “inner geek” – ever. He loves exploring new features in products and learning new technologies so he can apply them to real-life problems, or just play with them for the fun of it.