- #Whats after a generalledger how to#
- #Whats after a generalledger trial#
- #Whats after a generalledger series#
We recommend that you post all transactions for the period and for the year for all modules before you print the Detailed Trial Balance report. Use the Trial Balance Report window to print a year-end Detailed Trial Balance report. Step 8: Print a final Detailed Trial Balance report The backup can then be restored later if it's required. The backup gives you a permanent record of the company's financial position at the end of the year. Make a backup of all company data, and then put the backup in safe permanent storage. If these check boxes are selected, both the account history and the transaction history are updated during the year-end closing routine. The transaction history also lets you view the transaction details.
The transaction history lets you print detailed historical trial balances. The account history lets you print financial statements and calculated budgets from historical information. If you want to keep historical records, you must select the Accounts check box and the Transactions check box in the Maintain History area of the General Ledger Setup window. Note that check links can't be reversed, so you should always run it in a TEST company first and review the report to make sure you agree with all the changes it made and don't have any surprises.) Step 6: Verify the settings in the General Ledger Setup window (To do this, select Microsoft Dynamics GP > Maintenance > Check links > Financial series.
#Whats after a generalledger series#
Run the check links procedure on the Financial series group of modules. Step 5: (Optional) Do file maintenance on the Financial series group of modules Later, if you have to post transactions to a fiscal period that you already closed, you must return to the Fiscal Periods Setup window to reopen the period. Make sure that you post all the transactions for the period and for the year for all modules before you close the fiscal periods.
#Whats after a generalledger how to#
For more information about how to create auditing periods, see How to set up an adjusting period in General Ledger in Microsoft Dynamics GP. This feature enables separate tracking of the adjusting entries that are made after the year is closed. If you have to track initial adjusting entries or post audit entries separate from other fiscal periods, auditing periods can be set up in General Ledger. If you must make any adjusting entries to give revenue, expenses, or depreciation to the year that you're closing, use the Transaction Entry window or the Quick Journal Entry window to make adjusting entries in General Ledger. The adjusting entries also include journal entries that are used to assign revenues or expenses to the period in which the revenues were earned or in which the expenses were incurred. The adjusting entries include all the entries that correct errors that were made when transactions were recorded. Step 2: Post the final adjusting entries in General Ledger For more information, see KB -Year-end closing procedures for Microsoft Dynamics GP Payroll. These procedures are always performed at the end of the calendar year. Year-end procedures for Payroll are independent of the procedures in other modules. (So AA dimension codes are linked to the balance brought forward entries.) Review The Year-end close procedures for Analytical Accounting in Microsoft Dynamics GP to make sure you've properly marked the dimensions that you want to be consolidated during the year-end process. Post final transactions in all the modules except in General Ledger.Ĭomplete the month-end procedures and the quarter-end procedures for all the modules except for General Ledger.Ĭomplete the year-end closing procedures for each module in the following order:įor more information, see KB -Year-End Closing procedures in Inventory Control in Microsoft Dynamics GP.įor more information, see KB -Year-end closing procedures for Receivables Management in Microsoft Dynamics GP.įor more information, see KB -Year-end closing procedures for the Payables Management module in Microsoft Dynamics GP.įor more information, see KB - The year-end closing procedures for the Fixed Asset Management module in Microsoft Dynamics GP.įunctionality was added to consolidate balances for dimensions in Analytical Accounting (Back on GP 10.0 SP2). If General Ledger isn't integrated with other modules, skip this step. Only follow this step if General Ledger is integrated with other modules. Step 1: Complete the posting procedures and the closing procedures for other modules. Adjust the budget figures for the new year, and then print the financial statements.
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