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Happy Holidays to everyone as we head into the last few working weeks of 2020. With everything that is going on, I think we are all ready for 2020 to be closed.
Good news this year with Canadian Payroll, there are no table changes needed, below are the list of changes in the update.We plan to release this as all one update, including RL-1 and form changes for Quebec. This way it is less hassle with installs, etc.All Quebec information has been approved and below are the numbers you will need:
Software Development Number for XML - RQ-20-01-132RL-1 Slip Authorization number - FS2001172 (enter in the Payroll T4/R1 Print window)
Canadian Payroll specific documentation and install steps.
Basic Personal Amount Updates:
Due to Indexation factors and rounding you may notice that MB, Manitoba with the year end reset updates to 9337.00 for the Basic Personal Amount. Below is a script that will change all your employees to 9336.00 if needed.
Update CPY10105/*P_CPY_SETP_Employee_Tax_Credits*/set PBasicPersonalAmount='9936.00000' where PBasicPersonalAmount='9937.00000'and PJurisdiction='MB'
Tax Table Changes will be fixed in January Hotfix1. QPP is withholding at a 5.7% and should be 5.9%2. Yukon T2 calculation is incorrect3. Employees that have a Basic Personal amount of zero are calculating taxes incorrectly.
There are no required table changes. Changes were made to allow users to key in amounts in the T4 Other window for the following COVID-19 information: Code 57, Code 58, Code 59 and Code 60 Microsoft Dynamics GP will not calculate these amounts, just allow users to enter them in the Payroll Other T4 Information. Once populated they will be included in the XML.If you need more that 6 fields for the other amounts it will create a 2nd T4 Sequence Number for the additional fields.
The T4A, T4 and RL-1 XML has changed for the 2020 reporting year.
The T4 and T4A forms have not changed for the 2020 reporting year.
For now, lets get started with our year end steps that should be the same YOY, but good reminders to all.
What steps should I take to close the year?
1. Complete all the pay runs for the current year.2. Complete any necessary 2020 Payroll reports.3. Make a backup of the data.4. ***Install the 2020 Canadian Payroll Year-End Update/2021 Tax Update.***5. Complete the "Year End File Reset" process.6. Make a backup of the data.7. Create the T4, T4A, and RL-1 statements, and print the T4, T4A, and RL-1 reports.8. Edit the T4, T4A, and RL-1 records as necessary.9. Create T4, T4A, and RL-1 Summary records.10. Print the T4, T4A, RL-1 reports and create T4, T4A and RL-1 XML file, if appropriate.11. Verify that the Pay periods for 2021 are setup correctly.
~For more detailed steps, please refer to the Year-end closing procedure for the Canadian Payroll module in Microsoft Dynamics GP, by clicking on KB 861806.
**This will be translated to French
• The Year End Close process moves all your current year data into the Last Year (LY) tables and it doesn't take the date into consideration. For this reason it is very important that you complete ALL 2020 Payrolls (step 1) and then complete at least through the year end file reset (step 5) before doing any 2021 payrolls.• It is vital that you install the Year-End Update before the Year End Reset (Steps 4 and 5) because you are prompted during the Year End Reset to update Basic Personal Amounts. If you miss this you will need to restore from a backup.• When you do the Year End Reset it changes the Basic Personal Amounts for employees. Depending on the Province it will either add a fixed amount or increase the amount by an indexation factor as determined by the Provincial Authority.• This is an all-inclusive update.
Microsoft Dynamics GP 2016
Microsoft Dynamics GP
Year-End Close Resources:
Be sure to refer to the GP 2020 Year-End Blog Schedule to review current and upcoming blog posts and other helpful resource links related to Year-End Closing for Dynamics GP.
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