It is that time of year when companies start planning for year end and Microsoft releases the year end update. The update this year contains changes to Payroll, 1099 forms and distributions, and fixed assets. Please review the specific changes listed below. Once the update is released, ACE will be sending out another email to schedule time to update your GP environment PRIOR to your final payroll of 2014. Be on the watch for that email the first week of December.
Please note this is the LAST year end update for GP 2010. Support for GP 2010, including the end of tax updates, is October of 2015. If you are on GP 2010, please contact ACE to begin planning for an upgrade to GP 2013 R2 or GP 2015 sometime next year.
The 2014 U.S. Payroll Year-End Update is targeted to release the end of November 2014. Date still TBD.
Year-End Update Changes
The 2014 Year-End Update includes the following changes:
- No W-2 Form changes
- EFW2 changes (Electronic Filing)
- Product Quality Fixes around Payroll Year-End
- W-3 Form changes
- 1099 Interest – form and application changes
- 1099-R distribution code changes
- Fixed Asset Luxury Auto Depreciation changes
- Next to release would be the Canadian Payroll Year end update in December
- 2015 Round 1 tax update mid-December (table change only)
- 2015 Round 2 tax update January (maybe code)
For details refer to the CustomerSource links below for your specific version: