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Webinar Presentation: Microsoft Dynamics 2013 Year End Close

The document outlines the year-end closing procedures for various modules in Microsoft Dynamics GP, including inventory control, receivables management, payables management, fixed assets, analytical accounting, and general ledger. It provides essential steps, tips, and changes to be aware of, emphasizing the importance of backing up databases and following specific knowledge base articles for detailed instructions. Additionally, it notes that certain versions of Dynamics GP are still supported while highlighting new features and changes in year-end processes for different modules.

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2013 Dynamics GP Year-End
Agenda Install & Upgrade Inventory Control Receivables Management Payables Management Fixed Assets Analytical Accounting General Ledger US Payroll/Canadian Payroll Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Install & Upgrade Overview • Microsoft Dynamics GP 10.0 year-end release is no longer supported. There is general support through October 10, 2017 • Microsoft Dynamics GP 2010 & 2013 are supported • All updates are cumulative • All prior service packs, hotfixes, compliance, and year end updates are included in the most recent release –Ex: Service Pack 3 is included in the most recent update for Microsoft Dynamics GP 2013 • The update must be installed at all servers and workstations that have a Microsoft Dynamics GP installation otherwise a version error will occur Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Install & Upgrade Tips • Verify the Microsoft Dynamics GP installation used to upgrade the databases includes all additional product installations • If the installation 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 • Search for “Return Value 3” in the 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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) Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 • No changes in year-end update Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 lastyear 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 • If you are using Dynamics GP 2010 or Dynamics GP 10.0 SP2 or later, year-end may be an opportune time to implement the Historical Inventory Trial Balance (HITB) report Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Inventory Control Year End What are some of the related KnowledgeBase articles that can be referenced? • KB872713 : “Year-End Closing procedures in Inventory Control in Microsoft Dynamics GP” • KB864622: “Information about the order in which the reconcile procedures should be run in Microsoft Dynamics GP” • KB855316: “Inventory Accidentally Closed Twice” • KB872182: “Inventory year end close does not remove discontinued items” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Receivables Management Year End 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) • No changes in the Year End Update Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Receivables Management 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” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Receivables Management 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 the best option to close the year on time Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Receivables Management Year End What are some of the related KnowledgeBase articles that can be referenced? • KB857444 : “Year-end closing procedures for Receivables Management in Microsoft Dynamics GP” • KB851140 : “Information about performing the year-end closing procedure in Receivables Management in Microsoft Dynamics GP after December 31” • KB856865: “Removing outdated statement runs from the Reprint Statements Window” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Payables Management Year End What does the Year End Close Process do? • The Calendar Year End Close process transfers the 1099 Amounts from the Year to Date column to the Last Year column in the Amounts Since Last Close view in the Vendor Yearly Summary window • 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 *If the amounts are incorrect in the Amount Since Last Close View contact support for scripts that can be ran to correct the amounts. Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Payables Management Year End Are there any changes I should know about with the Payables Year End Close? –1099 DIV and 1099 MISC • Recipient box was reduced in size • Street Address/City moved up and increased in size • Account Number/2nd TIN box moved down (1099 DIV) • If only print 1099 MISC you may be able manually move fields to align –1099 INT • Two Per page format (instead of three per page) –1096 Summary (GP2013) • Checkboxes at bottom are smaller/realigned Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Payables Management Year End What are some important points to remember? –GP2013 new features • Separate 1099 Address ID field on vendor card • Additional Box Numbers added for each Tax Type • Additional fields o the 1099 Details window • New functionality to edit 1099 information –Edit 1099 Transaction Information (per trx) –Update 1099 Information Utility not has options for ‘Not a 1099 Vendor’ tax type (per vendor) • Can print 1096 form • New features video: Payables Management https://mbs.microsoft.com/customersource/documentation/userguides/MD GP2013_TechnicalReadiness Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Payables Management Year End • Follow the steps as outlined in KB875169 • 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 • Use KB918536 to correct this (GP2010 and prior) • Use 1099 Details window to edit 1099 amounts individually (Cards | Purchasing | 1099 Details) Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 the 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Fixed Assets Year End Close Are there any changes I should know about related to the Year End Update for Fixed Assets? • 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 2013 to comply with IRS Guidelines: http://www.irs.gov/irb/2012-14_IRB/ar09.htm • Historical Reporting Capability in GP2013 (year-end reports) Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 cleared from the Expand last Maintenance Date Window • The Quantity is copied to the Begin Quantity field in the Expand Quantity Window –In the Asset Book Window (Cards | Fixed Assets | Book): • The YTD Depreciation Amount is cleared • Cost Basis is copied to Begin Year Cost field • Life to Date Depreciation is copied to Begin Reserve field • Salvage Value is copied to Begin Salvage field –The Current Fiscal Year is increased for each closed book Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Fixed Assets Year End Close What steps should I take to close the year? • You must depreciate all assets through the last day of the current FA year before you close the year • Print all the reports that you will need for the year 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” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Analytical Accounting Year End Close • Follow the steps in revised KB960356 : “The year-end close procedures for Analytical Accounting” –New Scripts to verify AA data • With Dynamics GP 2013, 2010 and Dynamics GP 10.0 SP2 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 • No changes in the Year End Update • Management Reporter (data mart) reads AA tables, not GL tables –Make sure AA is installed and enabled on workstation doing GL close! Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 • No changes in the Year End Update Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 (*new option in 2013) • 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 • Balance brought forward journal entries are created in the GL20000 • The Fiscal Period tables are updated to mark the year that you are closing as historical Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
General Ledger Year End Close • What’s new in GP2013? –Include inactive GL accounts with $0 balance (or just those not used in budget) –Year end closing Progress bar – DO NOT CTRL+ALT+DEL –Mark unit accounts as balance sheet or P&L type • 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 does appear to hang at 50%, but it is still processing, so let it run Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
US Payroll Year End Closing • Highly Recommended Installation this year • Supported versions –Dynamics GP 2010 –Dynamics GP 2013 • Release Dates –2013 Year End Update – Released November 15th –2014 Tax Update (Round 1) – Week of December 16 –2014 Tax Update (Round 2) – January 2014 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
What’s Changed – Payroll Year End • No W-2 or W-3 Form changes • EFW2 Changes (Electronic Filing) –Employer Record added for Employer Contact: • Name, Phone, Fax, and email (file will have 0 values so if you don’t install the file may go through but cannot guarantee) –Other EIN field applicable to all tax jurisdiction codes • 2013 New Medicare Taxes on High Earners –W2 Medicare Taxable wages may be incorrect for employees earnings more than $200,000 if not installed • Product Quality Fixes around Payroll and Year-End **Recommend to install for payroll customers** Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
What’s Changed – Payroll Year End Customers on version 10 • Will NOT receive the 2013 Year End Update • Will not receive the code changes needed for 2013 Q1 941 form update (Line 5D, Medicare wages and tips over $200,000) Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
What’s Changed – 2013 YE Update 2014 Round 1 Update (week of Dec. 16th) • Tax table update only • FICA SS Limit increase $117,000 • States: Kansas, Maryland, North Carolina • Circular E is not final • Do not update until after all 2013 payroll cycles are complete Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 2013 Year End Update • 2010: https://mbs.microsoft.com/customersource/downloads/taxupdates/usgpye201 0.htm?printpage=false • GP 2013: https://mbs.microsoft.com/customersource/downloads/taxupdates/usgpye201 3.htm?printpage=false –Install the latest 2013 tax update before Dec. 16 so your last tax update date is 11/1/2013 Tools | Setup | System | Payroll Tax Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
US Payroll Year End Closing • Complete 2013 pay runs and verify period end reports • Make a “Pre-Year End Wage File” backup • 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) Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
US Payroll Year End Closing 2013 pay runs • Install 2014 Payroll Tax Update • Microsoft Dynamics GP | Maintenance | U.S. Payroll Updates | Check for Payroll Tax Updates • Downloads & Updates | Tax Updates (manual) • **2013 Year end Update required to be installed for the New Medicare High Income Earner Rate** Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Documents, Numbers and Sites • Downloads & Updates | Tax Updates • U.S. 2013 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Case Creation • Microsoft Dynamics GP Support Case Routing –Assistance with the install of the MSP or EXE –Support Topic Selection: System and Security Setup, Installation, Upgrade and Migrations –Sub-topic Selection: System Installation • Assistance with the database or report/form upgrade in Microsoft Dynamics GP Utilities –Support Topic Selection: System and Security Setup, Installation, Upgrade and Migrations –Sub-topic Selection: System Upgrade Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Case Creation • Microsoft Dynamics GP Support Case Routing • Assistance with installing the tax table update in Microsoft Dynamics GP –Support Topic Selection: Payroll –Sub-topic Selection: Payroll Tax Update • Assistance with Payroll-specific issues related to the Year End release and procedures –Support Topic Selection: Payroll –Sub-topic Selection: Year End Procedures Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
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 – Financial – General Ledger; Year End Closing Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Additional Resources • Blog https://community.dynamics.com/product/gp/gptechnical/b/dynamicsgp/default.aspx • Year-end information on CustomerSource https://mbs.microsoft.com/customersource/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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Questions? Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
Emtec Contact Info • Heidi Jensen heidi.jensen@emtecinc.com • Lance Krumholz lance.krumholz@emtecinc.com • Kerri Reinholtz kerri.reinholtz@emtecinc.com • Greg Pondel greg.pondel@emtecinc.com • General Support gpsupport@emtecinc.com Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.

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Webinar Presentation: Microsoft Dynamics 2013 Year End Close

  • 1.
  • 2.
    Agenda Install & Upgrade InventoryControl Receivables Management Payables Management Fixed Assets Analytical Accounting General Ledger US Payroll/Canadian Payroll Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 3.
    Install & UpgradeOverview • Microsoft Dynamics GP 10.0 year-end release is no longer supported. There is general support through October 10, 2017 • Microsoft Dynamics GP 2010 & 2013 are supported • All updates are cumulative • All prior service packs, hotfixes, compliance, and year end updates are included in the most recent release –Ex: Service Pack 3 is included in the most recent update for Microsoft Dynamics GP 2013 • The update must be installed at all servers and workstations that have a Microsoft Dynamics GP installation otherwise a version error will occur Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 4.
    Pre-Install & UpgradeTips • 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 5.
    Install & UpgradeTips • 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 6.
    Install & UpgradeTips • Verify the Microsoft Dynamics GP installation used to upgrade the databases includes all additional product installations • If the installation 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 • Search for “Return Value 3” in the 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 7.
    Install & UpgradeTips • 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 8.
    Install & UpgradeTips • 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 9.
    Post-Install & UpgradeTips • 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) Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 10.
    Inventory Control YearEnd 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 • No changes in year-end update Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 11.
    Inventory Control YearEnd What does the year end close process do and/or affect? • Transfers all summarized current-year Quantity, Cost and Sales amounts to lastyear 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 12.
    Inventory Control YearEnd 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” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 13.
    Inventory Control YearEnd 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 • If you are using Dynamics GP 2010 or Dynamics GP 10.0 SP2 or later, year-end may be an opportune time to implement the Historical Inventory Trial Balance (HITB) report Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 14.
    Inventory Control YearEnd What are some of the related KnowledgeBase articles that can be referenced? • KB872713 : “Year-End Closing procedures in Inventory Control in Microsoft Dynamics GP” • KB864622: “Information about the order in which the reconcile procedures should be run in Microsoft Dynamics GP” • KB855316: “Inventory Accidentally Closed Twice” • KB872182: “Inventory year end close does not remove discontinued items” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 15.
    Receivables Management YearEnd 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 16.
    Receivables Management YearEnd 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) • No changes in the Year End Update Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 17.
    Receivables Management YearEnd 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” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 18.
    Receivables Management YearEnd 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 to close the year on time Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 19.
    Receivables Management YearEnd What are some of the related KnowledgeBase articles that can be referenced? • KB857444 : “Year-end closing procedures for Receivables Management in Microsoft Dynamics GP” • KB851140 : “Information about performing the year-end closing procedure in Receivables Management in Microsoft Dynamics GP after December 31” • KB856865: “Removing outdated statement runs from the Reprint Statements Window” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 20.
    Payables Management YearEnd 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 21.
    Payables Management YearEnd What does the Year End Close Process do? • The Calendar Year End Close process transfers the 1099 Amounts from the Year to Date column to the Last Year column in the Amounts Since Last Close view in the Vendor Yearly Summary window • 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 *If the amounts are incorrect in the Amount Since Last Close View contact support for scripts that can be ran to correct the amounts. Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 22.
    Payables Management YearEnd 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” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 23.
    Payables Management YearEnd Are there any changes I should know about with the Payables Year End Close? –1099 DIV and 1099 MISC • Recipient box was reduced in size • Street Address/City moved up and increased in size • Account Number/2nd TIN box moved down (1099 DIV) • If only print 1099 MISC you may be able manually move fields to align –1099 INT • Two Per page format (instead of three per page) –1096 Summary (GP2013) • Checkboxes at bottom are smaller/realigned Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 24.
    Payables Management YearEnd What are some important points to remember? –GP2013 new features • Separate 1099 Address ID field on vendor card • Additional Box Numbers added for each Tax Type • Additional fields o the 1099 Details window • New functionality to edit 1099 information –Edit 1099 Transaction Information (per trx) –Update 1099 Information Utility not has options for ‘Not a 1099 Vendor’ tax type (per vendor) • Can print 1096 form • New features video: Payables Management https://mbs.microsoft.com/customersource/documentation/userguides/MD GP2013_TechnicalReadiness Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 25.
    Payables Management YearEnd • Follow the steps as outlined in KB875169 • 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 • Use KB918536 to correct this (GP2010 and prior) • Use 1099 Details window to edit 1099 amounts individually (Cards | Purchasing | 1099 Details) Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 26.
    Fixed Assets YearEnd 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 the 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 27.
    Fixed Assets YearEnd Close Are there any changes I should know about related to the Year End Update for Fixed Assets? • 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 2013 to comply with IRS Guidelines: http://www.irs.gov/irb/2012-14_IRB/ar09.htm • Historical Reporting Capability in GP2013 (year-end reports) Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 28.
    Fixed Assets YearEnd Close What does the Year End Close process do? –In the Asset General Information Window (Cards | Fixed Assets | General): • The YTD Maintenance amount is cleared from the Expand last Maintenance Date Window • The Quantity is copied to the Begin Quantity field in the Expand Quantity Window –In the Asset Book Window (Cards | Fixed Assets | Book): • The YTD Depreciation Amount is cleared • Cost Basis is copied to Begin Year Cost field • Life to Date Depreciation is copied to Begin Reserve field • Salvage Value is copied to Begin Salvage field –The Current Fiscal Year is increased for each closed book Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 29.
    Fixed Assets YearEnd Close What steps should I take to close the year? • You must depreciate all assets through the last day of the current FA year before you close the year • Print all the reports that you will need for the year 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” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 30.
    Analytical Accounting YearEnd Close • Follow the steps in revised KB960356 : “The year-end close procedures for Analytical Accounting” –New Scripts to verify AA data • With Dynamics GP 2013, 2010 and Dynamics GP 10.0 SP2 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 • No changes in the Year End Update • Management Reporter (data mart) reads AA tables, not GL tables –Make sure AA is installed and enabled on workstation doing GL close! Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 31.
    General Ledger YearEnd 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 • No changes in the Year End Update Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 32.
    General Ledger YearEnd 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 (*new option in 2013) • 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 33.
    General Ledger YearEnd 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 • Balance brought forward journal entries are created in the GL20000 • The Fiscal Period tables are updated to mark the year that you are closing as historical Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 34.
    General Ledger YearEnd Close • What’s new in GP2013? –Include inactive GL accounts with $0 balance (or just those not used in budget) –Year end closing Progress bar – DO NOT CTRL+ALT+DEL –Mark unit accounts as balance sheet or P&L type • 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 35.
    General Ledger YearEnd 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 does appear to hang at 50%, but it is still processing, so let it run Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 36.
    General Ledger YearEnd 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” Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 37.
    US Payroll YearEnd Closing • Highly Recommended Installation this year • Supported versions –Dynamics GP 2010 –Dynamics GP 2013 • Release Dates –2013 Year End Update – Released November 15th –2014 Tax Update (Round 1) – Week of December 16 –2014 Tax Update (Round 2) – January 2014 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 38.
    What’s Changed –Payroll Year End • No W-2 or W-3 Form changes • EFW2 Changes (Electronic Filing) –Employer Record added for Employer Contact: • Name, Phone, Fax, and email (file will have 0 values so if you don’t install the file may go through but cannot guarantee) –Other EIN field applicable to all tax jurisdiction codes • 2013 New Medicare Taxes on High Earners –W2 Medicare Taxable wages may be incorrect for employees earnings more than $200,000 if not installed • Product Quality Fixes around Payroll and Year-End **Recommend to install for payroll customers** Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 39.
    What’s Changed –Payroll Year End Customers on version 10 • Will NOT receive the 2013 Year End Update • Will not receive the code changes needed for 2013 Q1 941 form update (Line 5D, Medicare wages and tips over $200,000) Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 40.
    What’s Changed –2013 YE Update 2014 Round 1 Update (week of Dec. 16th) • Tax table update only • FICA SS Limit increase $117,000 • States: Kansas, Maryland, North Carolina • Circular E is not final • Do not update until after all 2013 payroll cycles are complete Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 41.
    US Payroll YearEnd Closing • Payroll Year End Closing Checklist –KB850663: “Year-end closing procedures for Microsoft Dynamics GP Payroll” • Year-end Closing Procedures –Install 2013 Year End Update • 2010: https://mbs.microsoft.com/customersource/downloads/taxupdates/usgpye201 0.htm?printpage=false • GP 2013: https://mbs.microsoft.com/customersource/downloads/taxupdates/usgpye201 3.htm?printpage=false –Install the latest 2013 tax update before Dec. 16 so your last tax update date is 11/1/2013 Tools | Setup | System | Payroll Tax Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 42.
    US Payroll YearEnd Closing • Complete 2013 pay runs and verify period end reports • Make a “Pre-Year End Wage File” backup • 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) Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 43.
    US Payroll YearEnd Closing 2013 pay runs • Install 2014 Payroll Tax Update • Microsoft Dynamics GP | Maintenance | U.S. Payroll Updates | Check for Payroll Tax Updates • Downloads & Updates | Tax Updates (manual) • **2013 Year end Update required to be installed for the New Medicare High Income Earner Rate** Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 44.
    Documents, Numbers andSites • Downloads & Updates | Tax Updates • U.S. 2013 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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 45.
    Case Creation • MicrosoftDynamics GP Support Case Routing –Assistance with the install of the MSP or EXE –Support Topic Selection: System and Security Setup, Installation, Upgrade and Migrations –Sub-topic Selection: System Installation • Assistance with the database or report/form upgrade in Microsoft Dynamics GP Utilities –Support Topic Selection: System and Security Setup, Installation, Upgrade and Migrations –Sub-topic Selection: System Upgrade Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 46.
    Case Creation • MicrosoftDynamics GP Support Case Routing • Assistance with installing the tax table update in Microsoft Dynamics GP –Support Topic Selection: Payroll –Sub-topic Selection: Payroll Tax Update • Assistance with Payroll-specific issues related to the Year End release and procedures –Support Topic Selection: Payroll –Sub-topic Selection: Year End Procedures Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 47.
    Case Creation • MicrosoftDynamics 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 – Financial – General Ledger; Year End Closing Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 48.
    Additional Resources • Blog https://community.dynamics.com/product/gp/gptechnical/b/dynamicsgp/default.aspx •Year-end information on CustomerSource https://mbs.microsoft.com/customersource/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 Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.
  • 49.
    Questions? Emtec, Inc. Proprietary& Confidential. All rights reserved 2013.
  • 50.
    Emtec Contact Info •Heidi Jensen heidi.jensen@emtecinc.com • Lance Krumholz lance.krumholz@emtecinc.com • Kerri Reinholtz kerri.reinholtz@emtecinc.com • Greg Pondel greg.pondel@emtecinc.com • General Support gpsupport@emtecinc.com Emtec, Inc. Proprietary & Confidential. All rights reserved 2013.