Microsoft Dynamics GP 2014 Year End Close Slideshow compiled by Massey Consulting from multiple Powerpoint presentations provided by Microsoft.

1. 2014 Year-End Close

2. Agenda
• Install & Upgrade
• Inventory Control
• Receivables Management
• Payables Management
• Fixed Assets
• Analytical Accounting
• General Ledger
• US Payroll

3. Changes in Year-end
Update
• U.S. Payroll
• Payables Management
• Fixed Assets

4. No changes in Year-end Update
• Inventory Control
• Receivables Management
• Analytical Accounting (Reminder)
• General Ledger (Reminder)

5. What’s New –Year End
• Supported Versions
– Microsoft Dynamics GP 2010 (11.00.2351)
– Microsoft Dynamics GP 2013 (12.00.1801)
– Microsoft Dynamics GP 2015 (releasing in Dec,
YEC in January)
*Updates are all-inclusive

6. What’s New –Year End
• Release Dates
– 2014 Year End Update – GP 2010/GP2013 – now
available!
– 2014 Year End Update – GP 2015 – January 2015
– 2015 Tax Update (Round 1) – Target of December
19th 2014
– 2015 Tax Update (Round 2) – Mid January 2015

7. What’s New –Year End
Customers on Microsoft Dynamics GP 2010:
– This is the LAST year that a Year End Update
available.
– Mainstream support (ie. tax updates) will end
10/13/2015.
– Extended support with no updates will end on
10/13/2020.

8. Pre-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 live environment

9. 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

10. 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 the command line. Refer to
KB 912997 #13 for steps

11. 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 steps

12. 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

13. 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)

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

15. 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

16. 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”

17. 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

18. 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”

19. Receivables Management Year End
• When should the close be done?
– 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

20. • What does the year end close
process do and/or affect?
– 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)
Receivables Management Year End

21. • 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”
Receivables Management Year End

22. • 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 the best
option is to close the year on time
Receivables Management Year End

23. • 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”
Receivables Management Year End

24. What’s New - Payables Management
Year End
Year End Close Update includes
changes for:
• 1099 INT form
- Added Box 10 - Market Discount
- Added Box 11 - Bond Premium
- Renamed Box 13 to be Box 15 - State
tax withheld

25. • What are some important points
to remember?
– Microsoft Dynamics GP 2013
• New functionality to edit 1099
information:
– Edit 1099 Transaction Information
window (per trx)
– Update 1099 Information utility now
has options for ‘Not a 1099 vendor’
tax type (per vendor)
• Print 1096 Summary Form
Payables Management – Year End

26. Payables Management Year End
• When should the Year End Close be done?
– The Calendar Year End Close Routine should be run at
the end of the Calendar year prior to posting
transactions in the new year
– The Fiscal Year End Close Routine should be run at
the end of the Fiscal year prior to posting transactions
in the new year

27. • 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
Payables Management Year End

28. • 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”
Payables Management Year End

29. • What are some important 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
Payables Management Year End

30. 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 2014 to comply with IRS
Guidelines:
http://www.irs.gov/irb/2014-11_IRB/ar09.html
•Microsoft Dynamics GP 2015 -Fixed Assets Year
End report

31. Fixed Assets Year End Close
• When should the Year End Close be done?
– 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

32. 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

33. 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

34. • 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 workstation where GL is being
closed!
Analytical Accounting –
Year End

35. Analytical Accounting Year End Close
• Follow the steps in KB960356 : “The year-end
close procedures for Analytical Accounting”
• With Dynamics GP 2010 or later 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

36. General Ledger Year End
• What are some important points
to remember?
– Microsoft Dynamics GP 2013 R2
• Reverse Historical Year button in
Year Closing window – should NOT
be used for a failed year-end close
• Restore to a backup immediately for a
failed Year-End Close

37. General Ledger Year End Close
• When should the Year End Close be done?
– 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

38. 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
– 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

39. 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 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

40. 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
– Non-Multicurrency YEC report may have issue

41. 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 in size
– 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

42. 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”

43. What’s New – U.S. Payroll Year End
• No W-2 Form changes
• W-3 Form changes
– Employer’s fax number box switched with Employer’s email
address box.
• EFW2 Changes (W-2 Electronic Filing)
*File will error if YEC update is not installed – new required
fields
• 1099-R distribution code changes
– Code ‘K’ added to report hard-to-value IRA assets
• Product Quality Fixes around Payroll Year-
End

44. What’s New – U.S. Payroll
Year End
2015 Round 1 Tax Update
• Target release date is December 19,
2014
• FICA Social Security tax limit $118,500
• State tax changes – Arkansas, California,
Kentucky, Maine
*Do not install until after Year End Wage file is
generated and all payrolls for 2014 have been
processed!

45. What’s New – U.S. Payroll
Year End
Affordable Care Act (ACA)
• Phase 1 of 2 included in YEC
• YEC gets tracking in place.
– includes table/column changes for automatic
ACA tracking in calendar year 2015
• Included in Microsoft Dynamics GP 2013
and higher
– No tracking available for Microsoft Dynamics
GP 2010
• Need to use Human Resources
Management

46. What’s New – U.S. Payroll
Year End
Affordable Care Act (ACA)
• Blog: ACA Information/Setup: (Nov 19,
2014)
https://community.dynamics.com/gp/b/dynamicsgp/
archive/2014/11/19/draft-microsoft-dynamics-gp-
2014-year-end-release-affordable-health-care-act-
2.aspx
• Blog: ACA Table/Column changes: (Nov
12, 2014)
https://community.dynamics.com/gp/b/dynamicsgp/
archive/2014/11/12/table-and-column-changes-in-

47. US Payroll Year End Closing
• Required Installation this year
• Supported versions
– Dynamics GP 2010
– Dynamics GP 2013
– Dynamics GP 2015
• Release Dates
– 2014 Year End Update – Released
– 2015 Tax Update (Round 1) – December 19, 2014
– 2015 Tax Update (Round 2) – January 2014

48. US Payroll Year End Closing
• Microsoft will provide a 2013 Year-End Update to all U.S
and Canadian Microsoft Dynamics GP Customers.
• Microsoft will also provide Round 1 U.S. tax tables for the
2014 Payroll reporting year.
• There will not be any additional code updates released on
GP 10.0.
• Normal technical support for Microsoft Dynamics GP 10
will end on 10/10/2017.
• If you are currently using Microsoft Dynamics GP 10.0, you
must upgrade to Microsoft Dynamics GP 2010 or Microsoft
Dynamics GP 12 (Due to release in December 2012) to
receive any further regulatory and or code updates
following the January 2013 Round 1 Tax Update.

49. What’s Changed – Year End Update
• W-2 Form changes
• W-3 Form changes
• EFW2 Changes
• 1099-R Changes for Pension Payroll
• 1099 Payables Div Changes
• Fixed Assets Luxury Depreciation Changes

50. US Payroll Year End Closing
• Payroll Year End Closing Checklist
– KB850663: “Year-end closing procedures for Microsoft
Dynamics GP Payroll”
• Year-end Closing Procedures
– Install 2014 Year End Update
– Complete 2014 pay runs and verify period end reports
– Make a “Pre-Year End Wage File” backup

51. US Payroll Year End Closing
• 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 (W200005, W200006)

52. US Payroll Year End Closing
• 2015 pay runs
– Install 2015 Payroll Tax Update
• Microsoft Dynamics GP | Maintenance | U.S. Payroll Updates |
Check for Payroll Tax Updates
• Downloads & Updates | Tax Updates (manual)

53. Additional Resources – Payroll Tax
updates
• U.S. Payroll Tax Update for Microsoft Dynamics GP
2013:
https://mbs.microsoft.com/partnersource/northamerica/
deployment/downloads/tax-regulatory-
updates/TUGP2013
https://mbs.microsoft.com/customersource/northameric
a/GP/downloads/tax-regulatory-updates/TUGP2013
• U.S. Payroll Tax Update for Microsoft Dynamics GP
2010:
https://mbs.microsoft.com/partnersource/northamerica/
deployment/downloads/tax-regulatory-
updates/TUGP2010

54. Documents, Numbers and Sites
• Downloads & Updates | Tax Updates
• U.S. 2014 Year End Update.pdf
• W-2 Wage and Tax Statement Data Source.pdf
• Tax Forms – 800-432-1281
www.staples.com
www.microsoftbusinesschecks.com
• IRS Forms and Publications
http://www.irs.gov/formspubs/index.html

55. 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

56. Additional Questions
If you have a technical question, please feel free to contact
Massey Consulting support through a service request:
http://connect.masseyconsulting.net/support
support@masseyconsulting.net

57. Important Reminders
• If you are on Microsoft Dynamics GP 2013 SP 2 or
above AND you use Business Portal Human
Resource Self Service Suite you will need to install
the BP Hotfix.
– There were Direct Deposit table changes made in
GP 2013 Service Pack 2 around Payroll Direct
Deposit affected Business Portal Human Resource
Self Service functionality.
– Error “Invalid column name ‘INDEX1’”
– Business Portal will not be supported with Microsoft
Dynamics GP 2015

58. 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

59. What’s New – Year End
• What are some Quality Issues included in
YEC?
– Login Performance due to duplicate
Workflow Navigation Lists in GP 2013 –
GP 2013 only
– Advanced Payroll/PTO Manager fixes –
GP 2013 only
– Payroll Validation report gives false error –
GP 2010/2013
– Iowa State Tax annualized calculations –
GP 2010/2013
– Receivables cash receipt apply issues due

60. Additional Resources – Year End
update
• 2014 Year End Update for Microsoft Dynamics GP
2013:
https://mbs.microsoft.com/partnersource/northamerica/
deployment/downloads/tax-regulatory-
updates/usgpye2013
https://mbs.microsoft.com/customersource/northameric
a/GP/downloads/tax-regulatory-updates/usgpye2013
• 2014 Year End Update for Microsoft Dynamics GP
2010:
https://mbs.microsoft.com/partnersource/northamerica/
deployment/downloads/tax-regulatory-
updates/usgpye2010

61. Additional Resources
• Microsoft Dynamics GP 2013 R2: New Features
https://community.dynamics.com/gp/b/dynamicsgp/arc
hive/2014/04/22/microsoft-dynamics-gp-2013-r2-new-
feature-blog-series-schedule.aspx
• Microsoft Dynamics GP 2013 SP2: New Features
https://community.dynamics.com/gp/b/dynamicsgp/arc
hive/2013/09/26/microsoft-dynamics-gp-2013-service-
pack-2-new-feature-blog-series-schedule.aspx
• Microsoft Dynamics GP 2013: New Features
https://mbs.microsoft.com/customersource/northameri
ca/GP/learning/documentation/user-
guides/MDGP2013_TechnicalReadiness

62. Additional Resources – Year
End
• 2014 Year-End Close Blog series:
https://community.dynamics.com/gp/b/dynamicsgp/ar
chive/2014/11/04/draft-microsoft-dynamics-gp-year-
end-blog-series-for-2014.aspx
• ‘Standard’ Year-End Close procedures:
(Checklists/KB articles)
https://mbs.microsoft.com/Files/customer/GP/Downlo
ads/TaxUpdates/Standard%20Year-
End%20Close%20Webinar.pptx

63. Additional Resources – Year
End
KB Articles
• Payroll - KB 850663
• Canadian Payroll -KB 861806
• General Ledger - KB 888003
• Analytical Accounting - KB 960356 and KB
2910626
• Fixed Assets - KB 865653
• Payables Management - KB 875169
• Receivables Management – KB 857444
• Inventory – KB 872713
• BP/HRMSSS - KB 978268 (pay schedule dates)

64. Additional Resources
• Dynamics GP Support Blog
https://community.dynamics.com/product/g
p/gptechnical/b/dynamicsgp/default.aspx
• Microsoft Dynamics Community - Ask your
peers
https://community.dynamics.com/default.as
px
• Microsoft Dynamics Support – Log a
Support Request
https://mbs2.microsoft.com/Support/newstart.
aspx

65. Case Creation
• Microsoft Dynamics GP Support Case
Routing
Assistance with the install of the MSP or EXE
1. Support Topic Selection: System and Security
Setup, Installation, Upgrade and Migrations
2. Sub-topic Selection: System Installation
Assistance with the database or report/form
upgrade in Microsoft Dynamics GP Utilities
1. Support Topic Selection: System and Security
Setup, Installation, Upgrade and Migrations
2. Sub-topic Selection: System Upgrade

66. Case Creation
• Microsoft Dynamics GP Support Case
Routing
Assistance with installing the tax table update in
Microsoft Dynamics GP
1. Support Topic Selection: Payroll
2. Sub-topic Selection: Payroll Tax Update
Assistance with Payroll-specific issues related
to the Year End release and procedures
1. Support Topic Selection: Payroll
2. Sub-topic Selection: Year End Procedures

67. Case Creation
• Microsoft Dynamics GP Support Case
Routing
INVENTORY
Distribution – Inventory; Inventory - Other
RECEIVABLES
Financial – Receivables Management; Year
End Procedures
PAYABLES
Financial – Payables Management; Year End
Close
FIXED ASSETS
Financial – Fixed Assets; Year End Procedures
ANALYTICAL ACCOUNTING
Financial – Analytical Accounting; Other
GENERAL LEDGER