Going Over the Fiscal Cliff – Impact on Your First January Payroll

Breaking news on Monday indicates we’re over the cliff for a day or two.  Nothing can be completed by midnight on 12/31/2012.  You may be concerned whether you have to do anything for your first payroll processing in January with Microsoft Dynamics® GP.

Nope.  Just apply that R1 2013 Payroll tax update.  Open Dynamics GP, Go to the upper right corner menu bar “Microsoft Dynamics GP.”  Go to Maintenance then U.S. Payroll Updates and follow the prompts.

The update was configured to take a 6.2% Employee FICA/Social Security deduction.  The news is that the 2% reduction won’t be continued in 2013, but be sure to keep a close watch on the news.

We had to process and transmit our 1/2/2013 payroll today.  Fortunately, I was able to manually transmit and haven’t posted the batch yet…just in case something changes by Wednesday.

Dynamics GP payroll update stressing you out? Don’t be! Click 2013 payroll tax update for a must have tip when updating your Dynamics GP tax payroll for 2013.

By Gloria Braunschweig with Computeration—your Idaho and Pacific Northwest organization for Dynamics GP support and rapid response.