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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / GP BBF question
Microsoft Dynamics GP (Archived)

GP BBF question

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Posted on by joseytang 1,800
We have just noticed that an income statement account (account 10-68050-1410) was marked in GP as a balance sheet account, therefore a beginning balance was being brought forward in 2014, through a system generated BBF entry (2014 JE # 74309, pictured below). The 2014 balance in this account should be $0. We have gone into the account’s profile and updated it to be an Income Statement Account. I am wondering how I can have my BBF entries refreshed, to clear out this account balance and reclassify it to retained earnings? The 2013 year is still open in GP. The strange thing is that this was not a problem in the trial balance we ran on 1/14/2015, so it seems something happened in the past week to change the BBF entry?! I can change this manually today by posting an entry to reclassify the beginning balance in this account to retained earnings, but if this isn’t the proper way to solve the problem I don’t want to end up duplicating the “fix”.

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  • Suggested answer
    Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

    2013 can't be open if 2014 is closed.  The system won't allow that.  Are you on GP 2013 R2?  If so, you can reverse the 2014 Year End Close, correct the Posting Type on the account and re-close it.

  • joseytang Profile Picture
    joseytang 1,800 on at

    Yes, we use GP2013 R2. How can we reverse  the 2014 Year end close? Appreciate if you can list out the step that what we should do.

    Thanks

  • Suggested answer
    Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

    It's pretty simple.  Go Financial>>Routines>>Year End Closing, click the 'Reverse Historical Year' button, choose the year you want to re-open, and click the 'Process' button.  You can re-open multiple years, one at a time, beginning with the most recently closed year.

  • joseytang Profile Picture
    joseytang 1,800 on at

    Great, Frank.  Appreciated for your screen shot and the instruction. I will try it in our TEST. By the way, will we see the correct balance in FRx financial report? Please advise

    Thanks,

    Josey

  • Suggested answer
    Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

    FRx reads whatever is in the general ledger, so if your FRx report is defined properly, it should show the correct result.

  • joseytang Profile Picture
    joseytang 1,800 on at

    I think the process is to reverse historical year in Year 2013. Then correct the post type and close year end in 2013.  Finally, Need to check the BBF in year 2014 for this Gl account is correct or not

    Are the above steps correct ?

    Please advise

    Thanks,

    Josey

  • Suggested answer
    Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

    That's correct Josey.

  • joseytang Profile Picture
    joseytang 1,800 on at

    Thanks for your help, Frank. Your answer is correct. We can close this incident.  Appreciate for your help again.

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