Microsoft Dynamics SL – Year End Updates for 2020
Microsoft released their 2020 year-end updates for Microsoft Dynamics SL. These year-end updates include changes for 1099 and W-2 reporting necessary to comply with 2020 tax year regulations. Microsoft also provided a PDF with the update titled Microsoft Dynamics SL 1099 and W-2 Reporting for Tax Year 2020 (TY2020YrEndUpd.pdf). This PDF details the changes that the year-end updates will apply to Microsoft Dynamics SL. It also includes detailed instructions for installing the updates.
Microsoft Dynamics SL Supported Versions
These year-end updates are applicable to the following versions of Microsoft Dynamics SL.
- Microsoft Dynamics SL 2018
- Microsoft Dynamics SL 2018 CU1
- Microsoft Dynamics SL 2018 CU2
- Microsoft Dynamics SL 2018 CU3
- Microsoft Dynamics SL 2018 CU4
Note: You do not need to install the 2019 year-end updates before installing the 2020 year-end updates. Microsoft Dynamics SL 2018 CU5 includes the year-end updates.
Please see the folder included with the year-end update download file that corresponds to the version of Microsoft Dynamics SL installed on your system. The folder for your version of Microsoft Dynamics SL includes the installation document with additional details applicable to your version. For avoidance of doubt, here is a list of update files and the version of Microsoft Dynamics SL to which they are applicable:
|Version||Year-end updates file|
|Microsoft Dynamics SL 2018||SL2018_YEU2020.zip|
|Microsoft Dynamics SL 2018 CU1||SL2018_CU1_CU2_CU3_YEU2020.zip|
|Microsoft Dynamics SL 2018 CU2||SL2018_CU1_CU2_CU3_YEU2020.zip|
|Microsoft Dynamics SL 2018 CU3||SL2018_CU1_CU2_CU3_YEU2020.zip|
|Microsoft Dynamics SL 2018 CU4||SL2018_CU4_YEU2020.zip|
In each of these zip files, you will find the installation document referenced above, and the files needed to complete the update process.
Downloading the Update
The installation files and instructions for the update are available on the Microsoft Customer Source. For simplicity, we have provided links to download the year-end updates and installation instructions below:
|Download||Description||File type (size)|
|SL2018_YEU2020_ALL||Zip file containing all the 2020 Year End Updates for Microsoft Dynamics SL 2018||ZIP (11.2 MB)|
|TY2020YrEndUpd||Updating Microsoft Dynamics SL 1099 and W-2 Reporting for Tax Year 2020||PDF (550 KB)|
These year-end updates include the following changes:
Accounts Payable 1099s
New Form: The IRS has brought the 1099-NEC form out of retirement. The purpose of this form is to report any nonemployee compensation. Therefore, Nonemployee compensation is no longer included on the 1099-MISC form. In addition, some of the boxes on the 1099-MISC form have been renumbered and/or renamed. The 1099 Preview (03.730.00) and 1099 Forms (03.740.00) reports now allow users to select a “MISC” or “NEC” format. Similarly, the Generate 1099 Electronic File (03.742.00) process has a Form drop down which allows users to choose “1099-MISC” or “1099-NEC”.
The Vendor Maintenance (03.270.00) screen; 1099 Info tab has been updated in accordance with the two 1099 forms for 2020. The Default 1099 Box Number dropdown list has been synchronized with the box numbers/names on each form. All other Accounts Payable screens that display AP transaction “1099 Box” data, have been updated as well.
State Higher Withholding and Marital Status Options
The year-end updates also include:
- Support for higher withholding tables by states. If a state provides tables for higher withholding statuses, the tables may be specified for the deduction Payroll Tables.
- Marital status can be specified per deduction. If a marital status is specified for a deduction that differs from the status identified on the main Employee tab, the status for the deduction will be applied.
A service pack, hotfix, or download may cause interoperability issues with customizations and third-party products that work with your Microsoft Dynamics installation. Before applying any service pack, hot fix, or download, we strongly recommend that you:
- Make a backup of your Microsoft Dynamics SL system and database
- Verify that your environment is compatible with the update/service pack/hot fix/download
Additionally, if you have any questions about this update, or need assistance with the installation process, contact SWK Technologies.