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Thrive. Grow. Achieve.
Dynamics SL 2012 Year End Processing
Michael Krawiec - Senior Consultant
January 3, 2013
Dynamics SL
2012 Year End
Processing
2
AGENDA
•YEAR END UPDATE INSTALLATION
•W2 PROCESSING
•TIME AND EXPENSE CLOSING
•1099 PROCESSING
Dynamics SL
PAYROLL
3
Steps for Year End Processing
•APPLY YEAR END UPDATES
•CALCULATE W2’S
•REVIEW DATA
•EDITING/CORRECTIONS, IF NEEDED
•PRINTING W2 FORMS
•RUNNING MAGNETIC MEDIA FILE FOR UPLOAD
Dynamics SL
2012 year End
Updates
4
Applying Year End Updates
OBTAIN YEAR END UPDATES FROM MICROSOFT
• https://mbs.microsoft.com/customersource/downloads/
• https://mbs.microsoft.com/partnersource/downloads/
– Search for “year end updates 2012’ to locate the appropriate download file.
• Install installation instructions from the downloaded file
YEAR END UPDATES APPLY TO:
• Current year reports
• Magnetic Media changes
• AP 1099 changes
Dynamics SL
2012 year End
Updates
5
Applying Year End Updates – Supported Versions
THE YEAR-END UPDATES ARE SUPPORTED FOR USE WITH THE
FOLLOWING MICROSOFT DYNAMICS SL VERSIONS:
DYNAMICS SL 7.X DYNAMICS SL 2011
SP3 2011
SP4 2011 SP 1
2011 FP1
Dynamics SL
Payroll – W2
Processing
Presentation Title / Page 6
Calculating W2’s
Open W2 Calculation screen
Choose current W2 year
Select pay groups that you wish to calculate for
Begin Processing
Dynamics SL
W2 Calculation
Presentation Title / Page 7
W2 Calculation
Dynamics SL
W2 Processing
Presentation Title / Page 8
Reviewing Data/Calculations
•Can print W2 forms to blank paper to review
–Use Plain Paper Copy format to print boxes around the calculated
figures, to verify box information.
–Use Employee W2 History to verify individual employees.
Dynamics SL
W2 Processing
Presentation Title / Page 9
Correcting W2’s
DETERMINE THE CAUSE OF THE PROBLEM
• Fed Wages incorrect?
–Identify earnings types that are set up incorrectly
–Identify missing exemptions
–Fix setup and re-calculate W2’s to correct
• State Wages incorrect?
–Identify earnings types that are set up incorrectly
–Identify missing exemptions
–Use initialize mode to correct the wages in Employee History so that they are correct
Dynamics SL
W2 Processing
Presentation Title / Page 10
Correcting W2’s - Continued
• Tax amount incorrect
– Determine the cause of the problem
– Initialize the Tax Amount to be the correct tax amount
IMPORTANT NOTES:
• We should not initialize totals unless we know why we are doing it
• Key to correct setup issues to avoid problems in the following year
Dynamics SL
W2 Processing
Presentation Title / Page 11
Printing W2’s
USE THE W2 FORMS REPORT TO PRINT W2’S
• Can obtain pre-printed forms from Solomon Forms -
http://www.microsoftbusinesschecks.com
• Can print your own forms using the Copy A, Copy B, Copy C and Copy
D formats
– Copy A for W2 forms must be printed in a red scannable 2up format ink
Dynamics SL
W2 Magnetic
Media
12
Running Magnetic Media File
USE W2 MAGNETIC MEDIA SCREEN IN PAYROLL
• Populate required fields
–Calendar year
–Can change file path to easily locate the generated file
–Transmitter PIN number provided by SSA
–Contact person information
• Company identification fields default from Company Maintenance, but can be overridden
Dynamics SL
W2 Processing
13
Running Magnetic Media
SENDING FILE TO SSA
• Follow instructions provided by the Social Security Administration for
W2 transmittal
• File format is usable by AccuWage program
– AccuWage is free software provided by SSA to check the file for formatting accuracy
–http://www.socialsecurity.gov/employer/accuwage/installation.html
Dynamics SL
Payroll Processing
14
Payroll Closing
CLOSING THE PAYROLL MODULE
• Accomplished in GL module – Closing screen
–December period will always be closed using Closing type of Year
–Closing will cycle Payroll to calendar year 2013
–Fiscal Periods (Period to Post) will remain on fiscal posting schedule
–Closing will create Deductions and History records for 2013, allowing new checks to be created
NOTE:
• YOU MUST CLOSE PAYROLL BEFORE YOU CAN CALCULATE FOR 2013.
Dynamics SL
Payroll Processing
Closing
15
Payroll Closing - Continued
Dynamics SL
Closing Project
Controller
16
Closing Project Controller
PROJECT SYSTEM MUST BE CLOSED AT THE END OF EACH FISCAL PERIOD
CLOSING CAN BE FISCAL PERIOD OR YEAR END
COMPLETED IN CLOSE PERIOD SCREEN PA.CLO.00
THIS SCREEN PERFORMS A SET OF CONTROL TESTS
• Checks that all sub modules have posted to project
• The accounting modules are closed to additional entries
• All project charge batches are posted
• Closing is blocked if any exception is identified
• Timecards are reviewed and a warning message appears containing the number of un-posted items being carried forward.
Dynamics SL
Closing Project
Controller
17
Project Controller - Close Period Screen
Dynamics SL
Closing Project
Controller
18
Closing Project Controller
IF CLOSE PERIOD (PA.CLO.00) DETECTS THAT THE CURRENT PERIOD IS
ALSO THE LAST PERIOD OF THE FISCAL YEAR, THE TITLE OF BEGIN PROCESSING
CHANGES TO BEGIN YEAR-END CLOSE, AND CLOSE PERIOD (PA.CLO.00) CLOSES
THE YEAR.
IF A YEAR-END CLOSE TAKES PLACE, BALANCE FORWARD AMOUNTS ARE
CALCULATED FOR THOSE PROJECTS THAT HAVE THEIR BALANCE FORWARD
SWITCH ON AND SUMMARY RECORDS ARE WRITTEN FOR THE NEW YEAR.
Dynamics SL
Closing Project
Controller
19
Calculating W2’s
PRIOR TO PROCESSING CLOSING PROCESS:
• Review the project maintenance records for open projects.
• Any open projects that should have their balances carried forward should have the
Balance Forward at Year-End option selected.
– Balance Forward at Year End determines whether the year-end total of a project’s
budgets and actuals are rolled forward as the beginning balance for the coming year
during the year-end Close Period (PA.CLO.00) process.
– Projects that span multiple fiscal years should have this check box selected so that the
ending balance is rolled forward to the next year.
– For annual projects or those that are re-budgeted each year without regard to previous
years, this check box should be clear so the beginning balance is set to zero for the next
year.
Dynamics SL
Closing Project
Controller
20
Closing Project Controller
IF THE YEAR IS CLOSED AND SOME PROJECTS WERE NOT MARKED
AS BALANCE FORWARD, THE BALANCES CAN BE CORRECTED BY
CHANGING THE CURRENT PERIOD IN PC SETUP BACK TO THE LAST
PERIOD OF THE PREVIOUS YEAR, THEN MARKING THE BALANCE
FORWARD OPTION IN PROJECT MAINTENANCE AND RUNNING THE
CLOSING PROCESS AGAIN.
•IN PROJECT CONTROLLER MODULE REVIEW THE FISCAL PERIOD
MAINTENANCE TO SET UP THE FISCAL PERIODS FOR THE NEW YEAR.
•IN TIME & EXPENSE MODULE REVIEW WEEK MAINTENANCE TO SET
UP THE WEEK ENDING DATES FOR THE NEW YEAR.
Dynamics SL
1099 Processing
21
AP 1099 PROCESSING
1099 INFORMATION IS UPDATED THROUGHOUT THE YEAR
• No extra process required to print
• Only need to run a process if generating magnetic media for sending to
IRS
Dynamics SL
1099 Processing
22
Printing 1099’s
IN ACCOUNTS PAYABLE, GO TO REPORTS AND CLICK 1099 FORMS
REPORT
CAN PREVIEW USING 1099 PREVIEW REPORT, OR BY PRINTING THE
1099’S
1099 PREVIEW SHOWS ALL 1099 VENDORS, REGARDLESS OF LIMIT.
FORMS WILL ONLY PRINT 1099 VENDORS THAT HAVE GONE OVER THE
LIMIT.
Dynamics SL
1099 Processing
23
1099 Forms
CLICK THE OPTIONS TAB AND SELECT THE BOX FOR NEXT 1099 YEAR, IF THE YEAR YOU WISH TO REPORT ISN’T THE CURRENT YEAR.
Dynamics SL
1099 Processing
24
1099 YEAR CLOSING
Dynamics SL
1099 Processing
25
1099 Year Closing
•CHANGE OPTION TO PURGE OLDEST YEAR
•BEGIN PROCESSING
This process gets rid of the “first year” information and cycles the vendors to the
“next year”, leaving the new year open. In our example, information from 2011 will
go away, 2012 will remain, and 2013 will be open for new information.
Dynamics SL
1099 Processing
26
Editing 1099 Information
SHOULD NOT INITIALIZE ANY TOTALS UNLESS WE KNOW EXACTLY
WHY WE ARE DOING SO.
• Reasons:
– We don’t want to get IRS or Auditors upset
– If there is a setup issue that caused the problem, we want to get it fixed so that you can
trust the information that Dynamics SL stored.
Dynamics SL
1099 Processing
27
Editing 1099 Information
1099 EDITING
• If Editing is needed, you can go into initialize mode and correct the 1099 totals by
vendor
• Need Initialize Access Rights to Vendor Maintenance screen to do this.
Dynamics SL
1099 Processing
28
Editing 1099 Information
Dynamics SL
1099 Processing
29
1099 Magnetic Media
Dynamics SL
1099 Processing
30
1099 Magnetic Media
Transmitter tab.
•Control Code comes in a letter from the IRS.
•Add contact info, in case they have questions
•Most information populates directly from Company
Maintenance, but can be changed before generating the file. Double
check it to be sure that it’s correct.
