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Get Ready for Your Year-End Close with these Microsoft Dynamics GP Year-End Updates

Get Ready for Your Year-End Close with these Microsoft Dynamics GP Year-End Updates

Yes, it’s that time of year … again. I know. It feels like you just finished closing your books in 2017 and it’s already time to start closing out another year. That’s why they say that time flies. It just flies faster for some of us than for others. It must have something to do with Einstein’s theory of relativity.

The Microsoft Dynamics Support and Services Blog is overflowing with year-end updates that you’ll want to read about. So Tidestone Solutions, your go-to partner for everything related to Microsoft Dynamics GP, is aggregating all of those updates for you in one easy place – namely this blog!

Microsoft Dynamics GP Year-End Update 2018: Affordable Care Act (ACA)

For the 2018 year, there is not a lot of change around ACA, which is great.  The main change this year was the form.  The name fields in the employee and dependent area were split out/re-arranged.  If you are going to print the forms out of Microsoft Dynamics GP, you need to install the year-end update. 

Microsoft Dynamics GP Year-End Update 2018: Receivables Management

No, there are no changes included in the 2018 Year-End Update that will affect the Receivables Management year-end close process. But here’s a tip about when should the Year End Close for Receivables Management be done?

1. If you are using a Calendar year, the year-end process should be done at the end of your calendar year, prior to posting any transactions in the next calendar year.

2. For those using a Fiscal year, the year-end process should be done at the end of your fiscal year, prior to posting any transactions in the next fiscal year.

Microsoft Dynamics GP Year-End Update 2018: Analytical Accounting

Be sure to give yourself plenty of time to review the Analytical Accounting (AA) data before you run the Year-End close process for General ledger.  This will be an important step if your financial reports pull any data from AA tables.

Microsoft Dynamics GP Year-End Update 2018: Electronic W-2 (EFW2) Tips for a Successful Filing!

Remember: EFW2’s are due on 01/31/2019!!

Microsoft Dynamics GP Year-End Update 2018: U.S. Payroll

The 2018 Year-End Update is always scheduled to be released mid to late November. We release this update in November to ensure you have plenty of time to install prior to year-end. In Support, we are often asked if it is OK to install the 2018 Year-End Update even though 2018 payrolls are not completely processed. The answer to that is YES YOU CAN! 

Got questions about your year-end close? We’ve got the answers.

Visit Tidestone Solutions at www.tidestonesolutions.com, email us at info@tidestonesolutions.com, or just pick up the phone and call Tidestone at 207.761.2133.

Related Post:
Microsoft Dynamics GP : Your Future Is Safe in Our Hands

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