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We started using GP 2010 about a year ago. This is my first year end, and I am just trying to make sure I do things right. I don't seem to get a lot of help from our rep, without getting charged an arm and a leg. As I read different things I get different answers, which makes it hard to sort out. I just needed to make sure the last closed date didn't mean through. It just means that is the date you actually closed it. I hope I am explaining this right. I think I understand what you said and am ready to move forward. Feel free to add anything I will definitely read it. Thanks for your help!
I should back up a step and ask what version of GP you are on. If on GP (version 7.5 or later), then you are good to go. What you read most likely alluded to the DOS product of the 90's. GP (at least for the GL) has been able to post into the new year before closing since at least version 6 and possibly before then (just don't remember for sure).
As far as your date question, it doesn't matter if you change the date, but if you do, you will not know (without doing some digging) what date you closed the year. If you change it to 4/30 on 5/20, your YE close window will say you closed it on 4/30 so next year you will not know when you actually closed the year (although you could find this in the tables and some reports). If you leave it as 5/20, you will know on the YE close window when it occurred. GP will still only close the 2011 year as trx also have a fiscal year with the records and it also uses your fiscal period setup to know which trx to include. Hope this helps out.
Dan Liebl | Senior Consultant | OTT,Inc | dliebl@OTT-inc.com
Thanks! If I am understanding you correctly. Nothing was effected because of the new year postings. That is a relief. I had read in several places you shouldn't do that after the fact. Another question, is it important to change the operating date in the left hand corner to the year end date before processing? When I do close it, what date shows up in the last closed date in the year end window? Does it matter if it is May 20, when our fiscal year end was April 30?
It should have no effect. There are a few exceptions (smartlists, summary views) that are date sensitive. I have many clients on a calendar fiscal year who do not close until Apr-May time frame so they can input auditor adjustments. They are unable to print a BS as there are no balance brought forward numbers. So you can continue to post trx to the new year, and then close the previous year when you have made all the adj you know and then close the year. You can post into 1 closed year so when (or if ) you get auditor adj then you can post those into the 2011 year (the 4-30 YE) and it will update the new balance brought forward numbers as well as the 2011 numbers.
Dan Liebl | Senior Consultant | OTT,Inc | dliebl@OTT-inc.com
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