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I am not new to GP but only been with my current company for 5 months. GP 10 was implemented in October 2010 and this area has never closed the ledger using GP. I will say that the system used prior to GP had 5 years of data in it and we are currently migrating this data to GP. Would this be a reason they are still manually closing the ledger -- maybe waiting for all the data to be migrated over?
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Yes and no. When you go to close it will look for the earliest open year and close that year so iof you have 2007 - 2012 open when you go to close the year it will first close 2007, then 2008 and so on and so on. Make sure you have backups before you start closing and verify that all your GL accounts are correct as far as being B/S or P/L accounts. You can use Smartlist to get a list of your GL accounts. All of your P/L accounts will roll into Retained Earnings and your B/S accounts will roll forward. I would do a backup, then close one year and check and then repeat this process for each year.
And make sure not to close them until everything is imported in and verified. You cannot post back to more than one prior year and you cannot re-open years without paying MS to do it.
Pamela, you have to close each year, one-by-one. GP will not automatically close years for you.
Yes, the prior years are still open. I was at the GPUG quarterly meeting yesterday and they did say the prior years had to be closed. By next week, 2005 through 2009 will be migrated to GP and it is detail, not summary. So when we try to close, will GP give a pop-up window with the years or just automatically start closing all the years at once?
Does this mean you have all those prior years still open in GP? When you go to close the year it will look for the earliest year not yet closed. Are they trying to get detailed GL data into GP for each year or simply summary? You will need to close out the earliest years first. What has been brought over to GP so far?
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