Boyer can still help you close out the year in your ERP
Year-end updates for Dynamics SL have officially ended, as the on-premise ERP system moves into Microsoft’s extended support option. Despite this notable change, Boyer will continue to assist SL users with closing out the year in their ERP system.
SL 2018 moves to extended support
Dynamics SL 2018, the newest version of the solution, has now entered its extended support phase. That will continue through July 11, 2028. While security patches will still be provided during this period, non-security updates, including new features or functionality, will no longer be released. However, clients can still purchase additional user licenses or modules throughout this time.
Year-end updates for Dynamics SL go away
Notably, this is the first year year-end updates for Dynamics SL will not be included. This has significant implications for clients using Payroll or Accounts Payable (AP). Below are the details of how these changes will impact users:
Payroll Adjustments
- Tax Rate Updates: Tax rate changes will need to be updated manually. This can typically be done by modifying the prior year’s tax rate file to reflect new values.
- 2024 Wage Base Adjustment: The Social Security wage base has increased from $160,200 to $168,600, requiring manual updates to ensure accurate tax calculations.
- W-2 Filing Requirements: Employers issuing 10 or more W-2s in a calendar year must now file electronically, in compliance with new regulations. Ensure that the file generated for submission is compatible with the IRS IRIS format. While the old FIRE format may still work temporarily, it’s likely to become obsolete. Note that the IRS format may change yearly, which could create challenges in maintaining compatibility.
- Printed Forms: Printed W-2 forms often undergo yearly changes. Report formats must be updated to align with the current year’s form requirements.
Accounts Payable Adjustments
- 1099 Threshold Changes: The reporting threshold for 1099 forms may increase from $600 to $1,000, necessitating updates to report calculations and layouts.
- Form Layout Updates: Changes to the printed 1099 forms could require layout modifications to ensure alignment with new requirements.
Boyer continues to support SL
We are confident in our ability to support our Dynamics SL clients during these changes through the following services:
- Tax Rate Files: We can assist in creating the necessary files to import updated federal tax rates. Federal values are typically straightforward to locate, while state-specific adjustments may require additional effort, as their structures often differ from SL’s requirements.
- Report Adjustments: We can update report formats to match new printed forms and ensure accuracy in layouts. As long as the underlying calculations remain correct, these adjustments are relatively simple.
- Calculation Corrections: While unlikely, if any issues arise with the calculations themselves, resolving these would be more complex but manageable with proper analysis and testing.
By helping our clients staying proactive and informed, we aim to minimize disruptions for our clients and ensure smooth operations throughout SL’s extended support phase.
There will not be an official year-end webinar on closing our your SL system, but if you have any questions or need assistance, contact us.
