Closing Year-End Dynamics GP with Ease

Join Laura Petrarca, Customer Support Analyst/BisTrack & Dynamics GP, for a webinar for LumberTrack and BisTrack users to learn tips and tricks for:

• Month End Procedures
• Financial Year End
• Payables Year End
• Payroll Year End
• Fixed Asset Year End

Important End-of-Year Information

Please be aware that customers using Dynamics GP 2016 or earlier will not be able to apply any Microsoft year-end updates due to Microsoft’s product release plan.  If you would like to arrange for a Dynamics GP upgrade, please contact your Epicor account manager ASAP for estimate.

The Year-End update includes the following:

• Payroll Self Service Timecards with Delegate Type only Group of 999 do not honor past pay periods or future pay periods
• Payroll Benefit Flat Tax roll down does not work from setup
• Payroll add the Employee Suffix field to print on the W-2
• Payables 1096 when you print for NEC type the Total in Box 5 should only include the Box 1 amounts, we are including more than that for NEC type.
• Payables 1099-MISC will now default to Box 3 versus Box 8. 

Regulatory / Year-End specific changes:

1. Fixed Asset Luxury Auto Depreciation changes.
2. Payables 1096 Summary 

Please see below important year end changes for 1099 filing.

Year end is a busy time for all of us, please do not delay in submitting your request for upgrade or Professional Services assistance.  Once we receive your request we will provide you with an estimate.  When you approve the estimate we will then schedule the work.  We look forward to assisting you as needed during this busy time. 

Thank you,

The Epicor Software Team

                                ___________________________________________________________

Tax Year 2023 1099 Filing

The IRS has published that starting tax year 2023, if you have 10 or more 1099 returns you must file them electronically. 

(https://www.irs.gov/newsroom/irs-and-treasury-issue-final-regulations-on-e-file-for-businesses).

Dynamics GP does not have functionality to electronically file these forms for you. There are numerous trustworthy 3rd party products available to you that many other GP users are already using. Please research and find the option that works best for you. Here are a list of products to review or you may find a product on your own. Please reach out the vendor of your choice to get a quote on pricing, etc.

• Greenshades:   https://go.greenshades.com/platform/tax-and-compliance/year-end-forms
• 1099 Pro:   https://www.1099pro.com/prod1099pro.asp
• 1099 Etc:  https://1099-etc.com/
• Tax 1099:   https://www.tax1099.com/integrations/1099-excel-template
• eSmart Payroll:   https://www.esmartpayroll.com/excel_form_1099misc.asp
• W2 Mate:  https://www.realtaxtools.com/1099software/1099software.html
• Aatrix -  www.aatrix.com

If your application is hosted with Epicor please allow time for installation of the 3rd party product by our hosted staff weeks prior to the filing deadline. This will allow you time to review and implement the product of your choice as needed.