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Changing Beginning Balance\Posting Type

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Posted on by Jim Lines

Hello,

My client pointed out that 3 GL Accounts had a beginning balance value when they should have been zero. Of the 3, two were incorrectly set up as BS accounts. They began using GP 1/1/2011, so the 12/31/2010 balances were summarized and uploaded via IM. I've tried to adjust the BB per MS KB# 857310 "How to adjust the beginning balance entries after you perform a year-end closing in Microsoft Dynamics GP" but it does not change the BB for 2011 for the two former BS accounts. I changed the account cards to P&L before performing the steps.

Summary of the KB Steps:
-Clear maintain history boxes for MC Setup and GL Setup
-Allow posting to history
-Open Fiscal Period (12/2010)
-Enter the correcting entries - posting to correct year

One of my accounts had a CR balance, the other two DR. The only one that updated correctly was the one that was originally a P&L account.

Does anyone have any experience with this or any advice? Thanks in advance!

Jim

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Jim Lines 2 on at

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Re: Changing Beginning Balance\Posting Type

OK, found the solution. I was missing a step and also my example was incorrect. All 3 were B\S accounts. The adjustment has to happen BEFORE you change the Account card posting type to P&L.

I also learned that if you have any of the account inquiry windows open before the process, you need to close them in order for the data to refresh. Simply clearing and re-entering does not update.

Most importantly, remember to change all the settings back when you are complete. I hope this helps someone out there!

Jim