Micro Force -Velosio Newsletter Jan 2021
We hope that you have had a memorable holiday season and a wonderful New Year celebration. As we begin the new year, we would like to start by thanking each and every one of you for the opportunity to support your Microsoft Dynamics GP business software system. Without your patronage, we would not be able to celebrate the start of our 37th year in business.
The purpose of these articles are to help you complete your year-end tasks as efficiently as possible using your Microsoft Great Plains business software system.
Please remember that as the Greater NYC Velosio Affiliate with over 350 resources in our organization, we not only have the expertise but also unprecedented bandwidth to help you and your team utilize the best in Microsoft business software and any of the Microsoft technologies including the Power Platform and Azure hosting to achieve your business goals in 2022!
January Year-End Services for Dynamics GP System
It’s once again time to plan for the year-end processing in your Microsoft Dynamics GP business software system.
Do you recall how to close each sub-module, so that information such as purchases for vendors in 2021 and 2022 will be correct?
Do you recall how to change GP data if corrections are needed for your 1099 reports?
Perform a “soft close” to 2021 so that your January balance sheet is correct?
Because these are tasks that you only need to perform once a year, you may be like most of our clients who schedule their year-end service session with our team to remind them and assist them in these once-a-year routines. Especially since some of the routines could take days to “undo” if not executed correctly.
Please email email@example.com to request to schedule this service. If you have a preference as to who on your team you would like to work with, please include that in your support request.
1099 Reporting in Dynamics GP Will Require an Update
The IRS has announced that there will be a change to your 1099 reporting for the 2021 calendar year. In order to print these new forms from your Dynamics GP system, Microsoft has released a software “service pack” that will need to be installed on your system. But the update is only available for any of the versions of Dynamics GP that Microsoft still supports. The table below provides the versions that are still supported. The current version is Dynamics GP 2018 R4.
Based on your version of Dynamics GP, here are your options:
If you are using the Dynamics GP version GP2018, GP 2018 R2 or GP 2018 R3 and you are planning to print 1099’s from Dynamics GP, you will need to apply the year-end service pack.
If you are on GP 2016 or earlier versions, you cannot print 1099’s onto the new forms out of Dynamics GP. The 1099 data that from your Dynamics GP system will be correct. So, you can use Dynamics GP to print properly the data that you can place onto the new 1099 forms.
There is a service provider named GreenShades for Dynamics GP that can print your forms for a fee if you are using an older version of GP. Please email us at firstname.lastname@example.org if you would like us to provide their contact info to you.
To scheduled your update, please contact us at email@example.com to do so.
To reference the IRS details about the form changes, please access this info via these links below.
1099-DIV FORM: 2021 Form 1099-DIV (irs.gov)
1099-MISC FORM CHANGES: https://www.irs.gov/pub/irs-pdf/f1099msc.pdf
1099- NEC form: 2021 Form 1099-NEC (irs.gov)
Due Dates for 1099 form submittal/filing to the IRS can be found here: https://www.irs.gov/pub/irs-pdf/i1099gi.pdf
DBA services for GP – give your software system its annual “Tune-Up”
When your Dynamics GP - Great Plains system was first installed, there was a lot of magic that happened "behind the scenes" with your Great Plains software. This included services to fine tune and configure Dynamics GP to work optimally with your Microsoft SQL (Structured Query Language) database.
An example of these services was the creation of Microsoft SQL maintenance plans, so that your data could be backed up multiple times a day. This way, if there was ever a data failure during the day, you would not need to lose the entire day of work if you had to go to a backup to restore your GP data. Routines to maintain your backup logs were likely put in place, so that this would not eat up all your space on your servers over a period of time. Just like a tune-up for your car, certain maintenance needs to be provided to keep SQL running efficiently and prevent possible database issues, which could lead to downtime of your GP system. Unlike a car, this service can be performed while users are using your system for most of the service. What is my risk if I do not maintain my GP system properly? Here are some examples of what we have seen taken place when this was not done:
Users experience extremely slow performance when using GP
Users are locked out of using Dynamics GP
Data corruption and GP crashes
Backups are found to not have been performed for months, many times unnoticed until after a system failure. This could be catastrophic to the operations of your business
Microsoft recommends that these back office services be performed by a database administrator who has been trained to best configure your version of Dynamics GP with the version of Microsoft SQL that is on your servers. It is recommended that this be done at least once a year. Besides the review of the status of the original routines in place, the tasks this person performs include possible index rebuilds, auto close, auto shrinking of GP databases and reviewing system event log for potential issues