All a company needs to know about closing Dynamics GP presented by the Sons of Accountancy and Massey Consulting.

1. Dynamics GP Year End 2015

2. This presentation will NOT discuss

3. Agenda • What’s New?
• Install & Upgrade
• Inventory Control
• Receivables Management
• Payables Management
• Fixed Assets
• Analytical Accounting
• General Ledger
• US Payroll

5. What’s New?
• U.S. Payroll
• Canadian Payroll
• Payables Management
• Fixed Assets

6. Release Information
• Release Dates
– 2015 Year End Update – GP 2013 – Released 11/20
– 2015 Year End Update – GP 2015 – Released 11/24
– 2016 Tax Update (Round 1) – Week of December 21
– 2016 Tax Update (Round 2) – Mid January 2016

8. Most Important Take Away
Early And Often!

9. Install & Upgrade Tips
• Backup the DYNAMICS database and all company
databases
• Export all modified reports and forms to package files
(Microsoft Dynamics GP | Tools | Customize |
Customization Maintenance)
• Backup the modified reports and forms .DIC files
(Refer to the Dynamics.set file for the path to the
modified .DIC files)
• Configure a test environment to test the upgrade prior
to installing in the production

10. Install & Upgrade Tips
• User running the update must have local admin rights
• Two components to the first update installation:
– Update application install
– Upgrade DYNAMICS and all company databases in
Microsoft Dynamics GP Utilities
• Typically the update is installed at the SQL Server first
to upgrade the databases in Microsoft Dynamics GP
Utilities

11. Install & Upgrade Tips
• Verify the Microsoft Dynamics GP installation used to
upgrade the databases includes all additional product
installations
• If the installation of the MSP or EXE fails, refer to the
Windows Installer Log or Windows Event Viewer for
more information. Refer to KB 2545723 for steps to
create a Windows Installer Log
• If the installation of the MSP or EXE fails, try installing
via command line. Refer to KB 912997 #13 for steps

12. Install & Upgrade Tips
• Enable a Dexsql.log prior to upgrading the databases
in Utilities. Refer to KB 850996 for steps
• If the database upgrade fails, do not restore the
databases as all troubleshooting can take place at the
point of failure
• If a red X appears next to the company name in the
Update Company window, the table conversion failed.
Refer to the Support Information Section of the
Upgrade Hot Topic for troubleshooting

13. Install & Upgrade Tips
• All modified reports and form dictionaries must be
upgraded using the Update Modified Forms and
Reports process at the Additional Tasks window in
Microsoft Dynamics GP Utilities
• If all modified reports and form dictionaries are
shared, only upgrade the dictionaries once
• The MSP file can be pushed out to client workstations
using Automatic Client Update, Group Policy or other
mass deployment tools

14. Post-Install & Upgrade Tips
• Backup the DYNAMICS database and all company
databases following the upgrade
• Export all modified reports and forms to package files
following the upgrade (Microsoft Dynamics GP | Tools
| Customize | Customization Maintenance)

16. Most Important Take Away
Early And Often!

17. Inventory Control Year End
The Inventory module should
be closed at the end of your
Fiscal year, before any new
transactions that would affect
inventory quantities are posted
When should the close be done?

18. Inventory Control Year End
• What does the year end close process do and/or affect?
– Transfers all summarized current-year Quantity, Cost and
Sales amounts to last-year for the Items for which you have
been keeping summarized Sales History
– Updates each Item’s Beginning Quantity from the Quantity on
Hand at each site
– Zeros the Quantity Sold field in the Item Quantities
Maintenance (Cards - Inventory – Quantities/Sites) for each
Site
– Gives you the option to: Remove Discontinued Items,
Remove Sold Receipts, Remove Sold Lot Attributes, and
Update Item’s Standard Cost

19. Inventory Control Year End
What steps should I take to close the year?
– Enter and post all Purchase Order Processing, Invoicing/Sales
Order Processing, and Inventory transactions for the current
year
– Follow the rest of the steps outlined in
KB872713: “Inventory year-end closing procedures in
Inventory Control in Microsoft Dynamics GP”

20. Inventory Control Year End
What are some of the key points to remember?
– Make restorable backups when recommended in KB872713
– If you are using Sales Order Processing and/or Purchase Order
Processing, reconcile these modules in addition to the
Inventory module prior to closing
– Reconcile Order: SOP, POP, and then Inventory
– Year-end may be an opportune time to implement the
Historical Inventory Trial Balance (HITB) report

21. Inventory Control Year End
What are some of the related KnowledgeBase
articles that can be referenced?
– KB872713 : “Inventory year-end closing procedures in
Microsoft Great Plains Inventory Control ”
– KB864622: “Order in Which Reconcile Should be Run for the
Distribution Series”
– KB855316: “Inventory Accidentally Closed Twice”
– KB872182: “Inventory year end close does not remove
discontinued items”

23. Most Important Take Away
Early And Often!

24. Receivables Mgmt Year End
The Calendar Year end close should be
done at the end of the calendar year prior
to posting any transactions in the next
calendar year
The Fiscal Year end close should be done
at the end of the fiscal year prior to posting
any transactions in the next fiscal year
When should the close be done?

25. Receivables Mgmt Year End
What does the year end close process do?
The Calendar Year end close clears the Calendar Year-to-Date
Finance Charges and moves them to the Last Year Calendar field
in Customer Finance Charge Summary (Cards – Sales – Summary
– Finance Charges)
The Fiscal Year end close transfers all amounts other than the
Calendar YTD Finance Charge amount to the Last Year column in
Customer Summary using the Amounts Since Last Closed View
(Cards – Sales – Summary)

26. Receivables Mgmt Year End
What steps should I take to close the year?
– Post all transactions for the current year
– Follow the rest of the steps outlined in
KB857444: “Year-end closing procedures for Receivables
Management in Microsoft Dynamics GP”

27. Receivables Mgmt Year End
What are some of the key points to remember?
– Make restorable backups when recommended in KB857444
– Receivables Management is not completely date sensitive
– As there are some date sensitive features (summary values),
the best option is to close the year on time

28. Receivables Mgmt Year End
What are some of the related KnowledgeBase articles
that can be referenced?
– KB857444 : “Year-end closing checklist for Great Plains
Receivables Management”
– KB851140 : “Effects of closing Great Plains Receivables
Management after December 31”
– KB856865: “Removing outdated statement runs from the
Reprint Statements Window”

30. Most Important Take Away
Early And Often!

31. What’s New
Payables Management Year End
Year End Close Update
includes changes for:
• 1099 Details window
• 1099-DIV form
• 1099-INT form
• 1099-MISC form
• 1096 Summary form

32. 1099 Details Window
– State/Payer’s State No field resized (MISC)
– State Identification No field resized (INT/DIV)
– FATCA filing requirement checkbox added
• Note: If you mark the FATCA checkbox for the 1099-MISC,
you will get a notification that Box 3 – Other income will
be zeroed out and user will get an option to continue.
• TEN99FATCAFILEREQ field added to PM00204 table
– Position of other fields moved to accommodate changes
What’s New
Payables Management Year End

33. 1099 DIV Form
- FATCA filing requirement checkbox added
- Other fields repositioned to accommodate the
change
What’s New
Payables Management Year End

34. 1099 MISC Form
- FATCA filing requirement checkbox added
- Box 3 –Other Income will be zeroed out if the FATCA
filing requirement checkbox is marked
- Other fields repositioned to accommodate the
change
What’s New
Payables Management Year End

35. 1099 INT Form
- FATCA filing requirement checkbox added
- Renamed Box 15 to be Box 17 - State tax withheld
- Box 12 added - Blank Description
- Box 13 added – Bond Premium on tax-exempt bond
- Many boxes resized/renumbered/repositioned
What’s New
Payables Management Year End

36. 1096 Summary Form
- Added Box 1098-Q
- Removed Box 1099-H
- Several other boxes were repositioned
What’s New
Payables Management Year End

37. What are some recent new features to note?
– Microsoft Dynamics GP 2013 and later
• Ability to edit 1099 information at transaction level
• Utility to update 1099 information at vendor level (if you
need to update a vendor to be a 1099 vendor, or visa
versa)
• Ability to print 1096 Summary Form
• 1099 Address ID on Vendor card
What’s New
Payables Management Year End

38. Payables Management Year End
The Calendar Year end close should be
done at the end of the calendar year prior
to posting any transactions in the next
calendar year
The Fiscal Year end close should be done
at the end of the fiscal year prior to posting
any transactions in the next fiscal year
When should the close be done?

39. Payables Management Year End
What does the year end close process do?
The Calendar Year End Close process transfers the 1099
Amount from the Year to Date column to the Last Year column in
the Amounts Since Last Close view in the Vendor Yearly
Summary window (Cards | Purchasing | Summary | Yearly
Button)
The Fiscal Year End Close process transfers all other amounts
from the Year to Date column to the Last Year column in the
Amounts Since Last Close view

40. Payables Management Year End
What steps should I take to close the year?
– Post all transactions for the current year
– Make sure transactions for the new year are saved, not
posted
– Make a backup
– Follow the steps in KB875169: “Year-end closing procedures
for the Payables Management module in Microsoft Dynamics
GP”

41. Payables Management Year End
What are some of the key points to remember?
– Follow the steps as outlined in KB875169
– As with Receivables, Payables Management is not
fully date sensitive, so it is still recommended that
you process your year end closing routines at the actual year
end
– 1099 Information will not auto-populate if the transactions
were not processed as 1099 transactions at the time of the
posting

43. Most Important Take Away
Early And Often!

44. What’s New - Fixed Assets Year End
Luxury Auto Maximum Depreciation Deduction Amounts
– The maximum depreciation deduction amounts allowed for
luxury vehicles has been updated for assets placed in service in
calendar year 2015 to comply with IRS Guidelines:
http://www.irs.gov/irb/2015-11_IRB/ar09.html

45. What’s New - Fixed Assets Year End
What are any new features to keep in mind?
Microsoft Dynamics GP 2015 RTM
– Fixed Assets Year End report (optional) prints per book
and provides a status listing of all assets affected by the
year-end close process

46. Fixed Assets Year End
The Fixed Assets Year End Close should be
run after you close Payables Management,
but before you close General Ledger
You can close each book separately, but
you must close all books before you can do
any processing in Fixed Assets for the new
year
When should the close be done?

47. Fixed Assets Year End Close
What does the Year End Close process do?
– In the Asset General Information window (Cards | Fixed
Assets | General):
• The YTD Maintenance amount is removed
• The Quantity is copied to the Begin Quantity field
– In the Asset Book window (Cards | Fixed Assets | Book):
• The YTD Depreciation Amount is removed
• Cost Basis is copied to Begin Year Cost
• Life to Date Depreciation is copied to Begin Reserve
• Salvage is copied to Begin Salvage
– Current fiscal year increased for each closed book

48. Fixed Assets Year End Close
What steps should I take to close the year?
– Print all the reports that you will need for the year
that you are closing
– Make a backup
– Follow the steps in KB865653: “The year-end
closing procedures for the Fixed Asset Management
module in Microsoft Dynamics GP”
– You must take depreciation to the last day of the
year that you are closing before you close the year

50. Most Important Take Away
Early And Often!

51. What are some important points to remember?
– Revised KB960356 : “The year-end close procedures
for Analytical Accounting”
• Scripts to verify AA data in KB 2910626
– Management Reporter (Data Mart) reads from AA
tables through CU 10.0
– Make sure AA is installed and enabled on the
workstation where GL is being closed!
Analytical Accounting Year End

52. Analytical Accounting Year End
• Follow the steps in KB960356 : “The year-end
close procedures for Analytical Accounting”
• There is an Analytical Accounting year end close
option!!
– This option enables balance brought forward entries
on dimensions
– Analytical Accounting data closes with General
Ledger regardless of whether this option is marked

54. Most Important Take Away
Early And Often!

55. What’s New
General Ledger Year End
What are some important points to note?
–Microsoft Dynamics GP 2013 R2
• Reverse Historical Year button in Year End
Closing window – designed to reverse a
successful close
• Recommend to restore to a backup
immediately for a failed Year-End Close

56. General Ledger Year End
– The General Ledger Year End Close should
be done after you have completed your
Year End closings for all other modules
– Those other modules should be closed in
the following order:
• Inventory
• Receivables
• Payables
• Fixed Assets
When should the close be done?

57. General Ledger Year End Close
What does the Year End Close process do?
– The year end close process closes all Profit and Loss
accounts out to Retained Earnings, leaving the P&L
accounts with a zero balance at the beginning of
the new year
– All Balance Sheet accounts are updated with the
beginning balance in the new year which will be the
same as the ending balance from the year you are
closing

58. General Ledger Year End Close
What does the Year End Close process do?
– The Retained Earnings accounts are the only
Balance Sheet accounts that should have a different
beginning balance than the ending balance from
the year that you are closing
– The Retained earnings account(s) are updated with
the amount from all P&L accounts if you close to
one Retained Earnings account, or with the amount
from the P&L accounts in that division if you close
to divisional Retained Earnings

59. General Ledger Year End Close
What does the Year End Close process do?
– The year end close routine moves all open year
transactions from the GL20000 table to the
GL30000 table
– The Fiscal Period tables are updated to mark the
year that you are closing as historical

60. General Ledger Year End Close
What steps should I take to close the year?
– Follow the steps in KB888003: “Year-end closing
procedures for General Ledger in Microsoft
Dynamics GP”
– FAQ section covers most common YEC Issues

61. General Ledger Year End Close
What are some important points to remember?
– Remember to make restorable backups as needed and
follow ALL the steps in KB888003
– Make sure that you have enough free space on the
server to allow for the GL20000 table to double
– Perform the Year End Close at the server
– Have all other users out of Dynamics GP when you
perform the year end close
– The year end close routine sometimes appears to hang
at 50%, but it is still processing, so let it run

62. General Ledger Year End Close
• What are some of the related KnowledgeBase
articles that can be referenced?
– KB871679: “How to set up an adjusting period”
– KB850615: “How to use divisional retained earnings accounts”
– KB864913: “Changing the posting type on an account after you
close the year”
– KB850741: “ Retained Earnings account not found”
– KB857582: “Query to clear beginning balances for unit
accounts”
– KB856550: “General Ledger year end close still in process and
batches cannot be posted”

64. Most Important Take Away
Early And Often!

65. What’s New
U.S. Payroll Year End
• No W-2/W-3 Form changes
• EFW2 Changes (W-2 Electronic Filing)
*Minor change – Attn/Suite/Room# fields not required in Submitter Information
• Affordable Care Act changes
• Product Quality Fixes around Payroll Year-End
See BLOG of list of fixes by version.
https://community.dynamics.com/gp/b/dynamicsgp/archive/2015/11/20/2015-u-s-year-end-
update-has-released

66. What’s New
U.S. Payroll Year End
2016 Round 1 Tax Update
• Target release date is week of Dec 21, 2015
• FICA Social Security tax limit & rates – No Change
• Federal tax table changes, all filing status
• State tax changes – California, Kentucky
• Maine – Moved to Round 2 code changes required
*Do not install the 2016 Tax Update until after Year End Wage file is generated and all
payrolls for 2015 have been processed!

67. What’s New
U.S. Payroll Year End
What is included in the Year-End update for the
Affordable Care Act (ACA)?
• ‘2015’ year updated on form
• Offer of Coverage if using 2 benefit codes
• Self/Dependents printing in Part III of form
• Box 15 –Lowest Cost Monthly Premium field added to
benefit setup and benefit enrollment
• Remove Payroll Year-End Information utility to clear
ACA

68. What’s New
U.S. Payroll Year End
What are some new features to keep in mind?
• ACA forms print with lines (no need to order
forms)
• Smartlist Designer report instructions for ACA
• Print online W-2 in Microsoft Dynamics GP
2015 R2

69. Documents, Numbers and Sites
– Downloads >> Tax Updates
– U.S. Year End Update.pdf
– W-2 Wage and Tax Statement Data Source.pdf
– Tax Forms – 800-432-1281
www.microsoftbusinesschecks.com
– IRS Forms and Publications
http://www.irs.gov/formspubs/index.html
– Accuwage for Electronic File Verification
http://www.ssa.gov/employer/accuwage/index.html

70. US Payroll Year End
– After all payroll runs for 2015 have been
posted and before any 2016 payroll runs
have been posted.
– Posting for payroll is completely
independent of any other modules in
Dynamics GP.
When should the close be done?

71. US Payroll Year End
• Payroll Year End Closing Checklist
– KB850663: “Year-end closing procedures for
Microsoft Dynamics GP Payroll”
• Year-end Closing Procedures
– Install 2015 Year End Update
– Complete 2015 pay runs and verify period end
reports
– Make a “Pre-Year End Wage File” backup

72. US Payroll Year End
• Create the Year End Wage File
– Tools | Routines | Payroll | Year End Closing
• Make a “Post Year End Wage File” backup
• Year End Wage File
– Held in UPR10100-UPR10107 tables
– Year End Wage Report
– Edit & Print W-2s
– Create W-2 Electronic File

73. US Payroll Year End
• BEFORE any 2016 pay runs
–Install 2016 Payroll Tax Update
• Microsoft Dynamics GP | Maintenance | U.S.
Payroll Updates | Check for Payroll Tax Updates
• Downloads & Updates | Tax Updates (manual)

75. Most Important Take Away
Early And Often!

76. Additional Resources
• Blog
http://blogs.msdn.com/b/dynamicsgp/
• Year-end information on CustomerSource
https://mbs.microsoft.com/customersource/support/
downloads/taxupdates
• Knowledge Base
https://mbs.microsoft.com/knowledgebase/search.aspx
• Microsoft Dynamics Support
https://mbs.microsoft.com/support/newstart.aspx
• Microsoft Dynamics Community
https://community.dynamics.com/product/GP/default.aspx

77. Additional Questions
If you have a technical question, please feel free to
contact Massey Consulting support through a service
request:
http://www.masseyconsulting.net/dynamics-gp-year-end-close/
support@masseyconsulting.net

78. Additional Questions
If you have a technical question, please feel free to
contact Massey Consulting support through a service
request:
http://www.masseyconsulting.net/GP-Year-End
support@masseyconsulting.net

79. Thank You!!
Philip D. Massey, CPA
(919) 508-6062
pmassey@masseyconsulting.net