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Micro Force - Velosio Newsletter October 2022

Updated: Nov 17, 2022

With Autumn well underway and the holiday season approaching, now might be a good time if you haven’t already, to check out the latest releases and events you should be putting on your to-do list! Some of these include the release of the latest version of Dynamics GP, cost savings promotions, as well as an upcoming Lunch N’ Learn event later this month that can make your mundane monthly processes actually fun!

Dynamics GP Version 18.5 is Being Released

The official release of the next major Dynamics GP release, named version 18.5, is taking place this week, the week of October 3rd. This release will include new features as well as the changes required for 1099 forms for this coming year end.

Regarding the 1099 forms in this release, this version provides the ability to print Payables 1099 statements for vendors to meet requirements for year end 2022. Microsoft has added a built-in format with boxes and lines for the 1099-NEC form. Now, when you select to print the 1099-NEC form, you have the option of printing the form type one-wide with boxes. When this option is selected, the form will print on blank paper.

Scheduling of your update to version 18.5 should become a priority for your system, since this is a time sensitive effort due to 1099 forms having to be submitted by January 31, 2023. This is especially true for those of you who are still using Microsoft non-supported version of Dynamics GP, namely 2016, 2015, 2013 and 2010. To begin this project, email and request a meeting with the director of our Dynamics GP upgrade practice.

We will be posting blog articles on these dates so that you can learn more about each new feature. If you have not seen our blog site our, located under Resource Library, this may be a good time to become familiar with it.

In addition to the 1099 updates, version 18.5 has the following features.

November 30: Summary Display in Bank Reconciliation for EFT

December 1: Account Category & Segment Look up Option

December 2: Add Batch Number & Source to Navigation List

December 7: Checkbook Register and Balance Inquiry revitalized

December 8: Payables 1099-NEC form prints with LINES and BOXES!!

December 9: Print Cash Receipts and email

December 14: Credit Card Payment post in Summary to Bank Reconciliation

December 15: Reprint Bank Reconciliation Posting Journal Options

December 16: Add Date Range to the Bank Transaction History Report

December 21: Inactivate Vendor Address Record

December 22: Auto posting to General Ledger from Payables when you use Transaction Level Posting

December 28: Print and email Purchase Order Processing Documents at the same time (Just like SOP)

December 29: Complete automation of Workflow posting thru email approval

December 30: Workflow Option for No Approval Needed