What you need to know about this years Dynamics GP Year End Update!

Where did 2021 go? Haven’t we just finished 2020? But here we are, and Ace is here to help you finish the year and prepare you for 2022.

Microsoft just released a file Dynamics GP 2021 year-end update. This update will bring Dynamics GP to version 18.4.1361. ACE would like to begin scheduling resources for any assistance you may need to apply this update before the end of the year. We are happy to assist you with all or part of your update requirements. However, there are some technical things to consider.

Here’s what you might ask:

Question: What is included in this year-end update?

Answer:

1. Accounts Payable Form Updates*

a) 1099-NEC Payments (Form 3 Parts)

b) 1099-Misc

c) 1099-DIV form changes

d) Changes in the form of accounts payable 1096

2. Fixed assets *

a) luxury car consumption changes

3. Payroll Form Updates*

a) 1099-R . form changes

4. All previous updates

Click here for What’s new in Dynamics GP in October 2021 – Dynamics GP | Microsoft . docs For full details

*If you are not required to submit new forms, are using another service to file on your behalf, or are not using GP’s fixed assets, you will not need to update by the end of 2021. You can hold off until sometime in 2022; But definitely before the next YE update is released.

Question: Is my version of Dynamics GP capable of applying this year-end update?

Answer:

To get a live update path, you must be on a version of the GP that is covered under Microsoft’s recent lifecycle policy. For this year, you should already be on version 18.3 of Dynamics GP.

Question: Remind me… What is a modern life cycle approach?

Answer:

The modern lifecycle approach covers products and services that are continuously maintained and supported. Under this policy, a product or service remains in support if the following criteria are met:

  • Customers must remain up-to-date in accordance with the published service and system requirements for the product or service.
  • Customers must have a license to use the product or service.
  • Microsoft must currently provide support for the product or service.

Question: What does that mean exactly?

Answer:

This basically means that a new update that is published every year will only work with the previous year’s release. This year, you should already be on 18.3 to be able to easily update to 18.4.

Question: But what if I’m still using an older version?

Answer:

This is known as static lifecycle and only brings you to GP 18.2. You can still get the year-end update. But this does mean that you will need to see the previous year’s end update (version 18.3) first before installing the new year’s end update (18.4). This becomes more of an upgrade rather than an update because of the number of ‘hops’ needed to get the update. As a result, the effort to complete this is greater and system requirements may be different. This will require ACE or your partner to complete a statement of work or estimate. Contact your ACE account manager or partner for further discussion.

Question: Well, looks like I’m ready to go for the update. What are the next steps?

Answer:

If you are already an ACE customer, contact me at [email protected] We will schedule your appointment and discuss the details of your GP’s environment. If not, please feel free to contact [email protected] About becoming an ACE customer or contact your partner for help.

Question: We are using Dynamics GP Payroll. What about the 2022 tax update?

Answer:

The target release of the 2022 tax update is December 17, 2021, with another release on January 21, 2022.

The tax update includes previous updates.

ACE will install this update after the last 2021 payroll but before the first 2022 payroll is processed.

Hope this helps to “clean the mud” out of the water a bit. Reach out if you need more clarification.

Connect with Laura Murphy, Vice President of Operations at ACE Microtechnology, your ACE Account Manager, or your partner to discuss your options and/or land a job at Year-end update schedule.

a happy New Year!!

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