The November tax updates have been released for Dynamics GP. This update will help prepare you for the new FICA Medicare changes of high-income earners. To install these updates follow the steps below.
Tools | Setup | System | Payroll Tax, your last tax update date is 11/1/2012.
To install the latest 2012 tax update changes, log in to Microsoft Dynamics GP as the system administrator click Microsoft Dynamics GP menu >> Maintenance >> U.S. Payroll Updates >> Check for Tax Updates.
***The 2012 Year-end Update can be installed at any time***
***It is important this year to create the year end wage file on 2012 tax tables, not 2013, otherwise we may see issues with FICA rates and limits. When you create the year end wage file, we look to the tax tables to get the FICA rate and wage limits***
Like us on Facebook at the KTL Solutions Facebook Page.