GP 2015 Tax and Year End Updates End Mid-April
Let’s face it, with the COVID-19 subsidy changes the federal government is making almost weekly, it is anyone’s guess as to whether there will be a mid-year tax update required for Dynamic GP.
If your company has a current version (2016 or newer), you will automatically be able to update the tax tables as soon as Microsoft releases them, which in the past has been early July.
However, if you’re running GP 2015 and Canadian payroll, any mid-year tax table updates will not be applicable. If you were planning to do the upgrade this year so you would be ready for December year-end, you may be in a challenging position if CRA does announce mid-year updates. We won’t know if the mid-year tax updates are happening until early June. [+]
Microsoft has recently strengthened the long term commitment to Dynamics GP by announcing the new Modern Policy. What this means is that Microsoft will now release at least 3 times a year and provide any additional updates if needed. The Modern Policy offers continuous support and servicing, including bug fixes, new features and the latest tax updates.
So why should this matter to current GP customers? [+]
Did you know that Alberta, British Columbia
and Ontario have regulations on the information that must be included on an
employee’s statement of earnings?
Do the statements of earnings you provide
to your salaried and hourly employees include:
- The employee’s wage rate and
- Earnings paid for wages,
overtime, general holiday pay and vacation pay – with each of these items listed
- Hours taken off in lieu of
If not, your organization needs the Payroll
Power Pack to help you more efficiently and easily meet these regulatory
Microsoft has released their latest Dynamics GP Roadmap which is a high-level development plan out to 2020. Along with some improvements and enhancements being planned over the next two years, there is a whole NEW area of capabilities driven by their new Intelligent Edge platform!
Note: GP2018 R2 is scheduled for release on October 1, 2018. [+]
Microsoft has released a January GP Hotfix that will be available the week of January 22nd.
- If you submit a T4 XML file without the hotfix or a manual edit, it will be rejected by Canada Revenue Agency.
- The Quebec tax calculation in GP is currently calculating less tax than required.
- Update to XML file for T4’s and T4A’s – Currently an additional line added to the file results in the file being rejected by CRA. The fix can correct this, or the line can be manually removed. Joesoftware can help with removing the line if you require assistance.
- Updated RL-1 Slip
- Update for Quebec basic amount (TP-1015.3-V). A script is available to update existing employee TP-1015.3-V values.
- The Alberta basic personal exemption amount may be off by $1 after the year-end update. There is a script available to update existing employee basic personal exemption amounts.
- Update for Quebec tax calculation – Currently GP is calculating less tax than required; the hot fix corrects the calculation issue.
GP 2013 (This is the last patch for this version, you should be planning an upgrade before mid-year!)
Here is the link to the official Microsoft Dynamics GP blog with the details; you are encouraged to read what is affected in case it impacts your business!
If you have any questions or concerns, or want more information on whether these fixes will affect your organization please contact us at email@example.com.