Year End Closing Updates
2013 is coming to a close and it is time to arm yourself with all the necessary information for a painless year end closing process. First off, because Microsoft GP 10.0’s support is ending, there will not be a year end update available for download. If you are running Microsoft GP 10.0 Microsoft does have an extended support option or you can reach out to your Partner for suggestions.
Microsoft has also begun a Dynamics GP Year-End Closing Blog Series for 2013. There is a schedule of blog posts to cover all standard procedures.
Here a few of the changes:
- Fixed Assets – changes to Luxury Auto Depreciation
- Payables – Form Changes
- 1099 Miscellaneous (Address information has moved up a line)
- 1099 Dividends and Distribution (Address information has moved up a line)
- 1099 Interest (Changed from a 3 per page format in 2012 to a 2 per page format in 2013, boxes same, but layout is way different)
- 1096 form changes (boxes on the bottom have realigned. Same boxes, just smaller)
Payroll changes are largely covered in the year-end update downloads for GP 2010 and GP 2013. These updates are available now and you may install them even though 2013 payrolls are not completely processed.
For more information on year end changes or for support please contact AKA!
Check out this video for step-by-step closing demonstrations.