Electronic filing is very important this year and required for W2’s and Payables 1099.
To ensure you are able to get your EFW2’s out the door on time I’d like to provide you with some basic information about EFW2’s in Microsoft Dynamics GP, along with the questions we see most often in support.
What has changed for EFW2s in Microsoft Dynamics GP THIS YEAR:
There are no EFW2 changes included in the 2023 Year-End Update.
What You Should Know About EFW2s in Microsoft Dynamics GP every year:
- EFW2 (aka. Magnetic Media) is free in Microsoft Dynamics GP for the Federal filing format. You can use it to send to states too, if your state accepts the Federal format.
- To find the W-2 Electronic Filing window go to Microsoft Dynamics GP >> Tools >> Routines >> Payroll >> W-2 Electronic Filing) to create an electronic file (aka: EFW2 or Magnetic Media) to submit W-2 information to the Social Security Administration.
- The W-2 Electronic Filing window displays all company databases. You can select one or more companies to be included in your electronic file.
- The EFW2 file is generated using data from the EFW2 worktables which are stored in the Dynamics database.
- The EFW2 worktables are populated with data based on the Year End Wage tables from each company database:
- Specifications for filing forms W-2 and EFW2 DISCLAIMER: THIS VERSION OF THE MMREF-1 PUBLICATION IS A FINAL DRAFT (ssa.gov)
- Payroll Documentation Dynamics GP U.S. Payroll – Dynamics GP | Microsoft Learn
Be sure to refer to the 2023 Year-End Blog Schedule to review current and upcoming blog posts and other helpful resource links related to Year-End Closing for Dynamics GP.
CAL is here to assist our Dynamics GP customers with their year-end update/closing so please don’t hesitate to contact CAL Support at Support@calszone.com to schedule a time with one of our consultants so your year-end goes smoothly.
By CAL Business Solutions, Connecticut Microsoft Dynamics GP / 365 BC & Acumatica Partner, www.calszone.com
Read the original post at: https://community.dynamics.com/blogs/post/?postid=2539fcb3-e388-ee11-a81c-00224854935a