Posting to a Closed Calendar Year

(0) Share

Report

Posted on by BradleyMiller

We recently closed our calendar year for 2012, only to find a couple of A/P batches that needed to be posted back into 2012. Our fiscal year end is June 30. What are the implications of posting backwards into a closed calendar year? I tried it in the test company, and everything seemed to process through okay.

*This post is locked for comments

I have the same question (0)

All responses (1)

Answers (0)

Victoria Yudin 22,769 on at

Like (0)

Report
Copy link

Link copied!
Payables transactions won't have a problem posting, the only issue is that these transactions will not be part of your 'Last Year' totals in AP. That will not hurt anything unless users are relying on those totals for something.

If your GL is also closed for 2012, here are the steps to post to a historical year (from http://victoriayudin.com/2008/11/14/year-end-close-in-dynamics-gp/):

Go to Tools > Setup > Company > Fiscal Periods and make sure the period you want to post to is open (unchecked).

Go to Tools > Setup > Financial > General Ledger and make sure Allow Posting to History is checked.

Enter and post your transaction. Read this before you look at your posting journal: the entry will look like it is posted twice. It’s showing up on the report twice because it’s updating last year’s balances and then updating this year’s beginning balances. This is ok.

Go to Tools > Setup > Financial > General Ledger and uncheck Allow Posting to History. While it is ok to leave this checked, I recommend disallowing posting to history to avoid mistakes.

Go to Tools > Setup > Company > Fiscal Periods and close (check) the period you opened in step 1. Again, you can leave the period open if you want.

Even though it is technically possible to post to the 2012 GL using the steps above, you must also make sure that this is ok as far as taxes and financial statements. For example, if you've already given your 2012 numbers to your auditors and post additional transactions to 2012, their number will not match yours anymore. If that is the case, you may want to consider posting these to 2013, at least in the General Ledger.

Was this reply helpful? Yes No