What’s New in Dynamics GP? October 2020 Release Features

By - November 16, 2020

With the most current release of Microsoft Dynamics GP that came out last month, many new and exciting features and enhancements have been added:

Financial, Sales, and Purchasing Enhancements:

  • Two new fields added to the General Ledger Transaction Entry window and included in both the Edit list and Posting journal so that users can describe transactions. You can configure labels for these fields for consistency, and this added functionality will further improve the descriptive capabilities when creating journal entries
  • Automation of the GL Reconcile utility – all years from oldest to newest year. Each year is completed before the next year is reconciled.
  • Credit card transactions can be imported as payable invoices or manual payments. This helps reduce risk of entry errors because you can bring in invoices for a vendor as a batch.
  • Copy/Paste Purchasing transactions from Excel – The same copy/paste functionality that you know from General Ledger is now available for Purchasing!. Use the Transaction Entry window to copy/paste PM Transactions and PM Distributions. You can include distributions or not.
  • Match Excel copy and paste decimal places to Currency Setup – configure your preference of decimal and thousands separators in the Currency Setup window so that you can copy/paste amounts from Excel without running into problems with different currencies using different separators.
  • IRS Form 1099 Non-Employee Compensation – the IRS has released a new 1099 NEC form for the 2020 tax year where Non-Employee Compensation (NEC) is moved from 1099 MISC to its own form. This update of Dynamics GP adds Nonemployee Compensation as a 1099 tax type in the Vendor 1099 Information
  • Other 1099 Updates: DBA field for vendors – Vendors that have a “Doing Business As” (DBA) name in addition to the legal company name, and that want to have the DBA name appear on the 1099, can now do so. It is common for companies to have a legal name registered but do business under another name, the name that they want customers to see.
  • Removed fully applied Multicurrency documents from PM HATB. You can choose to exclude fully applied multi-currency documents from the PM Historical Aged Trial Balance report.

 

Distribution Enhancements:

  • Export/Import stock counts to Excel

 

Human resources and payroll functionality:

  • Mask the Social Security in Human Resources reports – The Social Security Number (SSN) mask is now also available on the Human Resources reports. By default, SSN will be marked as masked, but to see the SSN on the reports, unmark it from the settings in the Human Resources Preferences window.

 

System enhancements:

  • Set up a schedule to run Check Links outside of normal business hours. For more information, see Schedule Check Links.
  • Use Multi-Factor Authentication for e-mail authentication. This new feature relies on an Azure Active Director App registration – register an app in the Azure portal & copy the value of Application (client) ID.
  • Users can now customize and save the layout of their Home Page. Simply choose the Customize this page control in the upper-right corner of the Home Page, and then, choose the column layout and how to stack columns when you maximize a specific section. For more information, see Save Per-User Column Layouts of Home Page.
  • You can now use Named Printers with Word Templates. This lets users access full one-click printing when using Word Templates. No more print dialog when using Templates!
  • You can now edit the columns on a SmartList
  • Maximum print output screen – Users no longer have to manually maximize the print output screen each time they print a report to the screen – the report will automatically pop out to full-screen mode for you! For more information, see Maximum Print Output Screen.

Please reach out to your RSM consultant directly or to our help desk at gpsupport@rsmus.com if you have any questions about your version of GP or any of the new updates.

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