Dynamics Community Forum Thread Details

Fiscal Period Modifier to Open a Year Closed for New Journal Entry

Hello,

Our controller would like to post an entry to 2012 a closed period 2 years prior. Can we use Fiscal Period Modifier to reopen 2012 post the transaciton and then reclose the period. No calender modifications will be made.

What would the effects be on Retained Earning?

If this is not the correct solution what other method/tool is out there we could use?

Thank you,

Donnette

Hi Donnette,

If you are on GP2013 R2, use the button on the Year-End Closing window to reverse the Historical Year close.

Under no circumstances would I use the Fiscal Year Modifier to Achieve what you need. If this is an absolute requirement, you'll need to do it manually.

Here's my example:

2012 is closed

2013 is closed

2014 is open

The missing Entry:

06/01/2012

Dr 000-6420-00 Liability Insurance expense $600.00

Cr 000-1410-00 Pre-paid Insurance $600.00

How to book it:

BACK UP YOUR COMPANY DATABASE
Edit the GL30000 table and enter the transaction as of 06/01/2012. It's easier to just tag it on to an existing journal entry. This will change the financials of the 2012 year. Now you need to edit the beginning balance of the 2013 year
Edit the GL30000 table and enter the transaction as of 12/31/2012 set:
1. HSTYEAR as 2013
2. ORGNTSRC as CLOSE
3. PERIODID as 0
4. SOURCDOC as BBF
5. DEBITAMT AS 600.00
6. Debit account is retained earnings
7. CRDTAMNT as 600.00
8. Credit account is Prepaid Insurance
9. Next you'll edit the beginning balances for 2014
Edit the GL20000 table and the same entry as above to the 2014 year

OPENYEAR as 2014
ORGNTSRC as CLOSE
PERIODID as 0
SOURCDOC as BBF
DEBITAMT AS 600.00
Debit account is retained earnings
CRDTAMNT as 600.00
Credit account is Prepaid Insurance

You'll need to fill in the other fields as appropriate, this example is not a complete record.

I have done this many times in the past and have not had any problems. Your results may be different. As well, you may have other modules that need to be adjusted. If your entry needs to hit any of the subsidiary modules, this method will not adjust those balances. You can just enter the transactions in on the subsidiary ledger side and change the details of the GL transaction it creates. The hard close applies only to the GL, not to the sub ledgers.

Does this give you the information you need? If you are not 100% confident working with SQL, you would be well served to get an experienced GP person involved.

Kind regards,

Leslie

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