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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Microsoft GP - Posting...
Microsoft Dynamics GP (Archived)

Microsoft GP - Posting journal entries in 2014 closed year

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Posted on by Community Member

I need to depreciate and post some entries into last year, but it is already closed. I was able to add the asset at an earlier date, and depreciate it through 12/31/14, but when it came time to post the journal entry, I couldn't. I ending up deleting the 12/31/14 posting journal entry, but the depreciation through last year still shows on the asset. I still need to post the total into the general ledger. I have a couple other assets to add to and depreciate last year as well. What is the easiest way to do this without making a huge mess?

If this is possible, will I need to run the year-end process again?

Thank you,

Kelli D

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  • Suggested answer
    Redbeard Profile Picture
    Redbeard 12,931 on at

    Kelli -

    When a year is closed in Dynamics GP, the Year-End Close process moves beginning balances forward to the next year for Balance Sheet Accounts and clears Income Statement Accounts to Retained Earnings. General Ledger Entries can still be posted into your last closed year (2014); when this occurs, entries will be generated automatically by Dynamics GP for the impact these entries have on the Year-End Close, as if the entries were made prior to the Year-End Closing, and the Year-End Closing was performed after they were posted.

    In order to post to a previously closed year, the Fiscal Periods for any modules you wish to post to must be open in Fiscal Period setup, this is likely why your journal entries didn't post.  These settings are controlled in Tools > Setup > Company > Fiscal Periods (since posting to the closed year will generate entries similar to those created by the year-end close procedure, the first fiscal period for 2015 must be open as well).

    Since you deleted the GL Entries created by the addition and depreciation related to assets added late in 2014, I would recommend deleting the asset(s) associated with these entries and recreating them. This will clean up the depreciation in the sub-ledger, and allow you to recreate journal entries for the addition and depreciation of assets in 2014.

    I would strongly recommend copying your live company to create a test database and walk through this, prior to implementing it in your live system.

  • Suggested answer
    Ian Grieve Profile Picture
    Ian Grieve 22,784 on at

    You can post to the last historical year be marking the General Ledger Setup option Posting to History.

    This would update the opening balances of the new year as well.

    MDGP 2013 R2 saw the introduction of a function in the Year-end Close routine that allows the last historical year to be reopened **handle with extreme care **

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