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Micro Force -Velosio Newsletter Dec 2020 - Year-End Services and 1099 Reporting Update Required

Greetings!

With the holiday season just around the corner, we continue to look forward to helping both you and your fellow GP users get the most from your Microsoft Dynamics GP business software system. In fact, the first week in January we're offering one of the more popular sessions in our free Lunch and Learn series - how best to prepare for Year-End tasks in your Dynamics GP system. If you haven't already registered to attend, now is the time to do so for this timely and valuable webinar. So read on below for more information on this upcoming webinar opportunity, and helpful Dynamics GP features to aid in your everyday tasks!

Year-End Services for Great Plains Webinar

It’s once again time to plan for the year-end processing in your Microsoft Great Plains ERP system. Did you know that you have to close each sub-module, due to some fields that are not date sensitive? If this is not done, then information such as purchases for vendors in 2020 and 2021 will not be correct.


Do you need a reminder on how to create the 2021 year to permit you to process transactions come January 1, 2021? If so, please contact us ASAP so that we can schedule one of our consultants to accommodate your service requests. You can either email your primary consultant or email this request to support@micro-force.com.


If you would prefer to attend a free webinar to learn about the year-end routines to process in your Dynamics GP system, we will be offering a Lunch’n’Learn on Wednesday, January 6th, starting at noon and ending by 1 pm EST. Please click here to register.

1099 Reporting in GP Will Require an Update

As noted in last month’s newsletter, The IRS has announced that there will be a change to your 1099 reporting come January 2021. The new 1099-NEC (NEC stands for Non-Employee Compensation) will require an update to your Microsoft Dynamics GP business software system to address this 1099 form printing change. If you have not already scheduled your update, please contact us at support@micro-force.com to do so. To get further details about this topic, view our November newsletter article using this link:


https://www.micro-force.com/post/micro-force-velosio-newsletter-nov-2020-new-1099-non-employee-compensation-reporting-requirement


Microsoft has released software updates only for their supported versions, which are versions of GP 2016 or GP 2018. To find out if you are using a support version as well as instructions to find out what version of GP you are using, please read the following article.

Versions of Dynamics GP On October 5, 2020, the latest version of Dynamics GP was released, which is Dynamics GP 2018 R3. Also named GP 2021 or 18.3. Some new functions include bug fixes and feature changes requested by GP customers.

You can see the version of GP that you are using when you either start GP on your device or when you click on ‘?’ (Help) in the top right corner of your screen and choose the last option on the drop-down menu that is named ‘About GP’. Which of these versions are you currently using? If you are not using at least GP 2016, your product is no longer on an active support plan, as noted below.


If you are on a Microsoft non-supported version, our recommendation is that you reach out to us to plan to upgrade your Dynamics GP in 2021.

Learn More About Your Dynamics GP System in January 2021 One of our mission statements is to help our Dynamics GP users be as knowledgeable about their business software system as any Dynamics GP user in the US! Our Lunch’n’Learns, annual business reviews, user activity sessions and these monthly newsletters are all examples of how we are working on this goal.


As we are in the midst of the holiday season, we would like to participate and begin 2021 by providing you, our beloved Dynamics GP customers, with a new learning resource in January. We will be releasing a number of Dynamics GP Tips and Tricks every week in the month of January.


Please keep an eye out for our weekly “gifts” that we will email to you throughout the month of January.

For more info about your GP system and business software in general, visit our blog site at https://www.micro-force.com/blog

Thank you once again for choosing Micro Force, we truly value our partnership together and the opportunity to serve your business solution needs! Sincerely, Jim McCann Partner, Senior Sales Analyst and Software Consultant Micro Force, A Velosio Affiliate Phone: (631) 421-1030 x 302 / (212) 777-7029 x 302 Email: jmccann@micro-force.com

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