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Microsoft Dynamics GP (Archived)

Paryoll Year End and Printing W2 Forms

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Posted on by 18,306
All,
As per Microsoft following are steps to for payroll Year End
  •  
    1. Verify that you have installed the latest 2011 tax update
    2. Complete all pay runs for the current year
    3. (Optional:) Complete all monthly and quarterly payroll month-end, period-end, or quarter-end procedures for the current year
    4. Make a backup of the original file
    5. Install the 2011 year-end update
    6. Create the year-end file
    7. Make a backup of the new file
    8. Verify W-2 and 1099-R statement information
    9. Print the W-2 statements and the W-3 Transmittal form
    10. Print the 1099-R forms and the 1096 Transmittal form
    11. (Optional:) Create a W-2 Electronic File
    12. (Optional): Archive inactive employee Human Resources information
    13. Set up fiscal periods for 2012
    14. (Optional:) Close fiscal periods for the payroll series for 2011
    15. Install the payroll tax update for 2012
Question :
Can anyone please tell me is it okay to print w2 form after payroll Tax Update for 2012 i.e. after step 5,6 and 15 ? Or I need print W2 form before Installing Payroll Tax Update i.e. after 5 and 6?
I think we can print w2 after step 15 but prior to that need to create ye Year-end file i.e. step 6
Your earliest reply is highly appreciable.
Thanks
Sandip

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  • Suggested answer
    John Lowther Profile Picture
    5,122 on at

    Hey Sandip,

    Step 6 that you highlighted in blue is the key part. It has to be after the end of year update and before the 2012 R1 update.

    Other than that you can print the W2's anytime.

    FYI: On US Payroll, printing the W2's just pulls the information out of the tables UPR10101 thru UPR10107.

  • L Vail Profile Picture
    65,271 on at

    WARNING, WARNING, DANGER, DANGER!

    The 2012 Payroll Tax tables are wrong!

    If you install these tax tables your FICA deduction will be changed back to 6.2%

    The corrected tax tables are due out tomorrow (Dec 28th).

    So, either manually change the percentage back to 4.2, or just wait until the new 2012 tables are released.

    There is a post on this forum where I went through the steps for changing the percentage back to 4.2%.

    Also, there is a document called thre W-2 Statement Data Source Guide that explains in detail where each field comes from that is printed on the W-2

    Kind regards,

    Leslie

  • sandipdjadhav Profile Picture
    18,306 on at

    Leslie,

    Where I can enter tax rate? Where I can  check this?

    Your earliest reply is appreciable.

    Thanks

    Sandip

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