Happy Holidays! And Happy Year-End! As always, ACE is now preparing the schedule to assist you with your end-of- year tasks. So, let’s talk about what that looks like for 2023!
The Year-End Update will bring your Dynamics GP to 18.6 (version 18.6.1695) and include all previous releases back to 18.3. Like previous years, ACE will be talking to the ISVs to determine what is required for their products to be updated as well.
There are some nice enhancements in the October 2023 release! Please check out this link to Microsoft’s What’s New page to learn about the new features: What’s new in Dynamics GP in October 2023 – Dynamics GP | Microsoft Learn
The Year End Update includes the Oct’2023 Release as well as some specific form changes you typically see when year-end comes around. The best news is that there are NO PAYROLL CHANGES this year!
Here are some things you should be aware of:
What’s included in this Year-End Update?
Accounts Payable Form Updates*
- No governmental changes to the forms are needed but, with the update, the lines will now print on the forms. NO NEED TO PURCHASE FORMS ANYMORE!
- The 1096 Summary form did change, however, so you will need this if you are generating 1099s and the 1096 form from Dynamics GP
- For 2023, you are now required to file 1099s electronically if you generate more than ten (10) 1099 forms! Do you have a plan in place to do this?
- Check out this blog for your options: Microsoft Dynamics GP: 1099 Changes to expect -Get ready for Year-end 2023!!
- Contact your ACE Account Manager for more information.
Fixed Assets*
- Luxury auto depreciation changes
Payroll*
- No changes this year!
All Prior Updates
- No new registration keys needed
*It’s possible you determine you don’t need to install the update this year. However, the Modern Lifecycle does encourage you to maintain your Dynamics GP with the latest release. Therefore, you can hold off until sometime in 2024; but should install the update prior to when next year’s YE update is released.
Is my version of Dynamics GP able to have this Year-End Update applied?
For a direct update path, you must be on a version of GP covered under the Modern LifeCycle Policy issued by Microsoft. For this year, you must already be on Dynamics GP version 18.4.1361.
Remind me…what’s the Modern Lifecycle Policy?
The Modern Lifecycle Policy covers products and services that are serviced and supported continuously. Under this policy, the product or service remains in support if the following criteria are met:
- Customers must stay current as per the servicing and system requirements published for the product or service
- Customers must be licensed to use the product or service
- Microsoft must currently offer support for the product or service
What exactly does that mean?
Essentially, that means that the new update published each year will work for the prior year’s release only. This year, you must already be on 18.4 to be able to easily update to 18.6.
But, what if I’m still on an older version?
If you are a version older than 18.4, you will need to go to 18.4.1361 before you can get the Year-End Update. This becomes more of an upgrade rather than an update because of the number of “hops” needed to bring you current. This may be further complicated by any third-party products, integrations, and/or customizations you may use. As a result, the effort to complete this is greater and system requirements are likely different. This will require ACE or your partner to create an estimate. Contact your ACE Account Manager or your partner to discuss further.
Okay, looks like I’m good to go for the Update but would like assistance. What are the next steps?
- If you are already an ACE client, contact us. We will reach out to discuss the specifics of your GP environment, address any concerns, and get your update scheduled.
- If you’re not an ACE client, please contact us about becoming an ACE client or contact your partner to assist you.
We use Dynamics GP Payroll. What about the 2024 Tax Update?
The targeted release of the 2024 Tax Update is mid to late December.
ACE will install this update after your last 2023 payroll but before your first 2024 payroll is processed.
Any changes to when/if Dynamics GP will reach its End of Life?
- If you are on Dynamics GP 2018 R2 or older, you are considered to be under the Fixed Lifecycle Policy. Mainstream support ended on 1/10/2023
- The Modern Lifecycle Policy requires that you stay current by installing any one of the 3 updates that Microsoft releases each year. As a result, Microsoft is showing support available through 2028 and beyond. Understand the Lifecycle Policies – Dynamics GP | Microsoft Learn
- If you are considering moving to Dynamics 365 Business Central or want to explore your options, please contact your Account Manager
If you would like ACE’s assistance with your year-end, please contact us.
Feel free to contact ACE Micro if you need further clarification on any of the topics above.
Wishing you a Happy and Successful New Year!!
President and VP of Business Development
read full bio