Users upgrading from versions prior to 9.0 will get a surprise, it's not there! Yes User Activity has moved!
It's now located at [Dynamics GP] Tools->Utilities->System->User Activity.

This was a big enough deal that Microsoft provided a Knowledge Base article (KB913820) explaining where to find the User Activity window now. If you're upgrading from a pre 9.0, this is one less thing you'll have to go looking for.
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