Dynamics GP 2017 Year-End Update

By Tracey BrinkmanMicrosoft Dynamics GP, Payroll, Purchasing, With 0 comments

Dynamics GP 2017 Year-End Update has released in Mid November

The U.S. Dynamics GP 2017 Year-end Update supports the following versions:

Microsoft Dynamics GP 2016

Microsoft Dynamics GP 2015

Microsoft Dynamics GP 2013

To identify the release that you’re using, start Microsoft Dynamics GP. Choose Help >> About Microsoft Dynamics GP.
If you’re not using one of the supported releases, upgrade to a supported version before installing this update.

What has changed for EFW2s in Microsoft Dynamics GP THIS YEAR:

A code change was included in the release of the 2017 Year-End Update to accommodate the following EFW2 record changes:

  • Box 12 Code FF (Permitted Benefits Under a Qualified Small Employer Health Reimbursement Arrangement) has been added to the RW Employee Record in positions 474-484, and the RT Total Record in positions 400-414. These fields must contain numeric data, no negative amounts, right justified, and zero filled (these fields cannot be blank).
    • IF you do not have the 2017 Year-End Update installed when you generate the EFW2 file this year, the file will be rejected for every employee with the following error: “Permitted Benefits Under a Qualified Small Employer Health Reimbursement Arrangement [Position 474-484]” …”This field must only contain numeric data. No negative amounts; right justify, and zero fill.”
  • Changes to federal tax filing and to W-2 electronic filing changes
    Validating wages on W-2 statements Validating your W-2 information has changed for the 2017 tax year. Testing is performed online this year. You can use the following link to access a site where you can test and validate your W-2 wage information: https://www.ssa.gov/bso/bsowelcome.htm

  • Fixed Assets changes for luxury automobiles
    The maximum deduction amounts allowed for luxury vehicles must be updated for assets placed in service in calendar year 2017. The maximum amounts were published by the IRS in Revenue Procedure 2017-29: https://www.irs.gov/pub/irsdrop/rp-17-29.pdf.
  • Updates for ACA reporting, form 1094-C
    For the Affordable Care Act (ACA), line 22, box C on the 1094-C form is designated Reserved. Part III, column (e) is designated “Reserved”; and the entry rows in Part III, column (e) are shaded.
    1095-C Instruction page was updated along with small format changes to the form.
    Review the following blog for detailed changes around ACA for the 2017 year. https://community.dynamics.com/gp/b/dynamicsgp/archive/2017/11/14/microsoft-dynamics-gp-year-end-update-2017-affordable-care-act-aca

If you are an iSolutions client and have questions regarding the year end update, would like a copy of the US17YE.pdf that covers the update or would like to schedule for us to help install the update, please contact us at: support@isolutionspartners.com.