Microsoft no longer supports Dynamics GP 2010. For upgrade information, please contact your Partner or 

The end of the year is fast approaching and payroll departments are busier than ever. Combine this with an end of year open enrollment for benefits and you truly have a hectic pace set in both HR and Payroll. Just a reminder of a few items to check before your last payroll:

  • Employee data such as addresses and social security numbers should be verified as well as making sure the retirement checkbox found on the Employee Tax Maintenance window is marked for all appropriate people
  • Verify Taxable Fringe benefits including Group Term Life, Personal Automobile usage, relocation, etc.
  • Update special tax situations such as Third-Party Sick Pay, Business Expense Reimbursement, Dependent Care, etc. Also make sure withholdings for Flexible Spending accounts are accurate based on their elections.
  • Check for any outstanding checks to make sure you are in compliance with State Escheat Laws.
  • Schedule any bonus or adjustment payrolls required.
  • Make sure all manual and voided checks have been input into GP.

You should also make sure that the Year-End Payroll Tax update is applied to your system so that all changes are reflected. The Tax update for GP 10.0 and 2010 is out and according to Microsoft, has the following changes:

  • W-2 and W-3 form changes
  • EFW2 electronic filing
  • 1099-R for Pension Payroll
  • 1099 Payables Div
  • Fixed Assets Luxury Depreciation

Please check CustomerSource or contact your Partner for more information on the Year End Tax update for Microsoft Dynamics GP.

Editor’s Note: This post was originally published in November 2011 and has been updated for freshness, accuracy, and comprehensiveness.