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Dear Microsoft GP community,
I completed all JE for FY ended in march and ready to close FY.
How Microsoft GP is managing Balance Sheets accounts beginning balances for the next FY?
What is the process?
Thanks
Larisa Kryukova
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Tools->Routines>Financial->Year-End Close
Hi Richard,
when you saying "close it" - what is the procedure?
If your fiscal year ends in March, when you close it will bring all beginning balance type account balances forward and roll all others into retained earnings. Make sure you run a Smartlist on your GL accounts and make sure all B/S and P/L accounts are correctly assigned. Also, perform a backup before closing in the event that something goes wrong.
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