The Dynamics GP October 2024 release is now available
Microsoft has released the Dynamics GP 18.7 update as part of its October 2024 cycle. This update is centered on refining existing features and enhancing user workflows, with a clear emphasis on addressing customer feedback. Unlike past updates, this release does not include new major features but instead focuses on incremental improvements aimed at streamlining operations and improving system usability.
In this article, we’ll outline the key updates and enhancements included in Dynamics GP 18.7 and what they mean for users.
Enhancements to 1099 forms in Dynamics GP 18.7
The October 2024 update to Dynamics GP 18.7 brings several important enhancements to the 1099 form process, aiming to improve data security, privacy, and efficiency for users. These updates include features designed to protect sensitive information and simplify the management of 1099-related data. Here’s an overview of the key updates:
- Payables 1099 Mask ID: A new option in the Print 1099 window allows for partial masking of the Vendor’s Tax ID number, enhancing security and reducing the risk of identity theft and fraud. This feature applies to several 1099 form types and masks the first five characters of the Vendor’s 11-digit Tax ID number.
- Payroll Mask SSN on 1099-R: The 1099-R form now includes an option to mask the Employee’s Social Security Number, providing an additional layer of security and protecting personal employee information from identity theft.
- Restrict Payables 1099 by Calendar Year: A new drop-down option in the “Edit 1099 Transaction Information” window allows users to filter 1099 data by calendar year. This helps streamline the reconciliation process by displaying only relevant 1099 vouchers for the selected tax year.
Payroll monthly deduction & benefit maximum
The introduction of the Payroll Monthly Deduction and Benefit Maximum in Dynamics GP 18.7 brings a long-awaited improvement for payroll administrators. With the growing complexity of employee benefit and deduction structures, this new functionality adds monthly maximum fields to the Payroll Benefit and Deduction Setup, as well as the Payroll Employee Deduction and Benefit windows. This feature mirrors existing maximum rules already in place for fiscal, pay period, calendar year, and retirement plan deductions, offering more flexibility and control over payroll management. With this enhancement, payroll processes become more efficient and better suited to meet the diverse needs of organizations.
Additional updates included in the October 2024 release of Dynamics GP
Microsoft Dynamics GP 18.7 updates designed to refine existing features and improve core business processes. These updates focus on simplifying daily tasks, reducing the risk of errors, and ensuring that users have better access to the information they need, making workflows more efficient and user-friendly.
- Default vendor class roll down: In Dynamics GP 18.7, the default response to the prompt asking if vendor records should be updated when changing a Vendor Class ID has been set to ‘NO’ to prevent accidental updates.
- Reprint EFT payment register: Users can now reprint the EFT Payment Register for previously posted batches, ensuring that financial records can be easily re-accessed for auditing and reconciliation purposes.
- HATB print with special characters: Special characters in voucher and payment numbers no longer cause errors when printing the Historical Age Trial Balance (HATB) report.
- Vendor remit address detail saved to history: A new table now stores full Remit To Address details at the time of posting, improving the accuracy of audit trails and preventing fraud.
- Payables transaction remit-to address display: Users can now easily display the full remit-to address for vendors within the transaction entry window, streamlining EFT payments and enhancing efficiency.
- New templates: Multicurrency blank form: New default templates have been added for emailing statements, including the popular Multicurrency Blank form, offering greater flexibility and improved communication with customers.
- Display customer & vendor email address: The email entry screen now only displays relevant email addresses based on the customer/vendor record and document type, improving accuracy and security.
- Purchase order entry delete line option: The missing delete row option has been reinstated in Purchase Order Entry, simplifying and speeding up the transaction process.
- Link sales order processing print options: The system now automatically selects the appropriate print options based on the document type, saving time and ensuring consistency when printing sales orders.
- Sales document drill back capability: Users can now drill down into the details of a sales document directly from the inquiry window, improving accessibility and reducing the time spent navigating between windows.
- Report navigation list ability to mass email: Users can now mass email multiple reports at once from the Report Navigation list, greatly improving efficiency in organizations with large volumes of data.
- Credit card payments setup as check cards: Multicurrency data is now correctly posted to the Bank Reconciliation module when credit card payments are set up as check cards, ensuring accurate financial records and smooth reconciliations.
- Workflow emails trim trailing zeroes: A formatting improvement ensures that trailing zeroes in number fields display correctly in workflow emails, improving readability.
Upgrade Dynamics GP to access the latest features
To access the latest features and improvements, it’s important to upgrade Dynamics GP. Microsoft requires users to install at least one update per year to remain eligible for support.
Given the complexity of Dynamics GP updates and the importance of maintaining system stability, working with a certified Dynamics GP partner is recommended. A partner can guide you through the update process, ensuring compatibility with your existing system, and help resolve any potential issues during the transition. They will also help you plan for future upgrades and ensure your organization continues to get the most out of your Dynamics GP investment.