Microsoft have just released a slew of communications relating to upcoming releases and updates.
Changes to US Payroll 941 Form
- Per the IRS – the final form is not out yet. The IRS communicated to Microsoft that they only have the instructions left to update and that Microsoft can go ahead and program the changes based on the draft of the form. The draft is available for review today.
- Expected release date for customers on Microsoft Dynamics GP 2010 and Dynamics GP 2013 is the week of March, 25, 2013
- Form changes you should be aware of:
- Line 5d is new: “Taxable Wages & Tips Subject to Additional Medicare Tax Withholdings
- Two new columns, column 1 and column 2
- 5d column 1 amounts: these are the taxable wages & tips over $200,000
- 5d column 2 amounts: amount of column 1 multiplies by .009
Fixes for Microsoft Dynamics GP 2010 and Dynamics GP 2013
- Manual Check – Incorrect FICA Medicare Tax message about exceeded maximum for year
- Retirement Plan with Fixed Amount does not update summary correctly, after GP 2010 SP 3 is applied
- Payroll Employee Auto Increment and Employee Records still not working
- When updating from 11.00.2164 to 12.00.1343 with Collections Management, the error appears when launching Utilities (GP 2013 only)
Questions that you may have:
- Do you need to install it?
- If your company does not have any employees that earn over $200,000 in Q1 and you don’t need to “print” the actual form out of GP, you may be OK without installing – you will want to test this for your company. If you print it out but don’t send that printed form, you should be able to get the information you need for the form you have.
- What if I’m on Dynamics GP version 10?
- For Version 10 customers, you can run the old report and manually do the needed calculations, but you do need to get upgraded.
Note – if you install the service pack when it is released the week of March 25, 2013 – please make sure if your report isn’t working correctly that you check your security to see if you are printing a modified report for the 941, if so turn off the security to the modified report.
If you are experiencing FICA rounding issues and you haven’t applied the Hotfix for this issue, Microsoft did issue some SQL scripts that can be run to properly adjust the pennies that are incorrect.
If you want to correct this situation, please give OTT, Inc. a call at 651.262.2600 or email us at email@example.com and we will assist you in getting the scripts run.
For those that are waiting to upgrade to Microsoft Dynamics GP 2013, Microsoft has noted that the 1st true service pack for that version is expected out mid/end of April.
If you have any questions, please give OTT, Inc. a call at 651.262.2600 or contact us and we will be happy to assist you.