Yes, it’s that time of year again. It is payroll year-end and W2 time! Like usual, the IRS and rest of the Federal government can never make it easy, so hopefully this blog can help clear up a few things.
This year when downloading the year-end update (available via the link below, based on your current Dynamics GP version) there is also a code change. This is just like installing any service pack or hotfix- meaning you will have some ‘downtime’, as every single instance of GP will need to be updated. If your organization is looking for upgrade assistance, please send me an e-mail. In the meantime, to find and download the year-end update without assistance, please visit the appropriate sites.
To find and download the year-end update, please visit the appropriate site:
Based on modifications to payroll rules and regulations, the upgrade supports the following changes:
1. Nonresident Alien taxes are now supported- Under Cards | Payroll | Tax (Federal) – there is now a drop down for Nonresident Alien…cool!!! The tables are under FED code, filing status NRA.
2. For good news, Connecticut is no longer participating in convoluted tax calculation where you look at hire date or YTD withheld. However, you are required to install code and table for CT to work. So cross your fingers and legs too!
3. If you pay tax in New York and you make a decent income, prepare to pay a lot. I have even noticed an income level where someone pays 88 percent (married) and 49 percent (single). And no, this is not a typo.
4. You now have the ability to track a specific type of organization on the Federal Tax setup window. Provided options; N/A, 501c Government, 501 Non-Government, are now available.
Additionally, Round 2 of the tax table updates have been available as of January 20th, 2012.
To download these updates, please navigate to Microsoft Dynamics GP| Maintenance | Check for Tax Updates. To complete this function, you will need to be logged into Dynamics GP as the ‘sa’ user in, as well as, know your Authorization Number. My team and I can help you obtain this information if needed, just send me an email if you need help.
Once tax tables have been successfully installed, navigate to Tools | Setup | System | Payroll tax to verify the date is 1/20/2012. While the round 3 update is not yet available, expect news of this release and more information in mid-February. No worries- just subscribe to our Emtec ERP blog and you will get notice of my blog entry on the release when posted.
As of today, the following states have been updated:
- California
- Connecticut
- Delaware
- District of Columbia
- Hawaii
- Idaho
- Kentucky
- Main
- Maryland
- Massachusetts
- Minnesota
- New Mexico
- New York
- North Dakota
- Oregon
- Rhode Island
- Vermont
If you have any questions on the above, please feel free to contact me, and as they say at the casino… “Good Luck!”
