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ReportI closed my year in GP Version 9.00 and (2) accounts did not close into retained earnings. How do I close out these 2 accounts?
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I closed my year in GP Version 9.00 and (2) accounts did not close into retained earnings. How do I close out these 2 accounts?
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Deborah, from the GL manual:
If you want to keep historical records, verify that Maintain History for Accounts
and for Transactions are marked in the General Ledger Setup window
(Microsoft Dynamics GP menu >> Tools >> Setup >> Financial >> General
Ledger). If you maintain account history, you can print financial statements and
calculate budgets from historical years. If you maintain transaction history, you
can drill down to transaction detail and print historical detail trial balances.
If these boxes aren’t marked, the transaction or account information for the year
will be deleted once the year end close process is completed.
So by unclicking the Maintain History box, you can post an historical transaction, close the year and then that transaction will be gone. Just be sure you click it back on when finished cleaning up these two accounts.
I closed a few months ago and have had transactions processed since then. I just noticed the accounts when running a report for an audit.
Deborah, where are you in the process? Did you just close and then notice this issue so rolling in a backup is possible or is that too late now that you have current year transactions occurring? There are always ways to correct things the question becomes how much work is involved.
what has occured in GP since the Year End close?
if nothing then restore the back up as originally suggested and reset the account settings and close again.
Hi Richard, I've had the same issue and is following the steps in KB 864913. My question is when we make the offsetting entry while the "Maintain History" box is unchecked, will my retained earnings or any numbers for that matter change for the previous year once we post? If so, is there some other way to get rid of this beginning balance without affecting the previous year in any way?
You can follow the steps in KB 857310. Hopefully you have access to CustomerSource so you can get to this KB. By posting on this board you have access to thousands of helpful GP resellers. Do you know who your reseller is? It is best to ask them for their help. If not, please post back here and one of us will provide assistance.
You are correct. They were new accounts set up for Flood Income and Flood Expense and they inadvertently were marked as BS accounts on the cards. Thank you. How do I contact a GP Partner or MBS Professional Service?
Why didn't they close? Are they marked as Balance Sheet Posting Type in the account card? If so, you'll need help from your GP Partner and/or MBS Professional Services to rectify the issue. You'll need to have the closing rolled back, fix the Posting Type issue, then re-close the year.
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