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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / YE close issues, very odd
Microsoft Dynamics GP (Archived)

YE close issues, very odd

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Posted on by dougwhiterules2000 110

Hi all:

So my company that did the 2012 close and for whatever reason, RE did not update to the new balance. It is very odd - the income accounts did indeed zero out for 2012, and when I run FrX reports, the data for 2012 appears just fine. Is there any way that I can adjust the RE balance at ye 2012, say by unchecking December and posting an entry?

Another wrinkle: I can;t run historical TBs for 2012. But, I can get the data I need from a smartlist. I assume this is related to the issue with the YE close.

At the end of the day, GP is not even the system we report form it is a legacy system that we run parallel, but I just wanted to see if there was some way to get this right.

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  • Victoria Yudin Profile Picture
    Victoria Yudin 22,768 on at
    RE: YE close issues, very odd

    I am not sure how adding another period, especially after the year has been closed, would help. If you have a backup from before the year end close you could try to restore and do the year end close again, but if you have been entering transactions after the year end close, then this may not be a viable option. This may be a situation where you need to get support involved so they can take a look at your data and come up with a fix.

  • dougwhiterules2000 Profile Picture
    dougwhiterules2000 110 on at
    RE: YE close issues, very odd

    It's set to the correct RE account. Just very odd......Is there any way I can add a period 13 or something, and change the balance that way?

  • dougwhiterules2000 Profile Picture
    dougwhiterules2000 110 on at
    RE: YE close issues, very odd

    The issue I have with the RE is this: the RE at 12/31/12 is exactly the same as the RE on 1/1/13. However, all my P/L accounts start eh year with a zero balance. It’s like they got closed out somewhere, but not RE?

    For the TB, I have been doing as you suggested – history is selected under year. It returns no data. However, I can get the data from a smartlist. So, the data is all still there, I just now go about getting it a different way.

  • Victoria Yudin Profile Picture
    Victoria Yudin 22,768 on at
    RE: YE close issues, very odd

    Is it possible that the RE account was not the one selected as the RE account for the year end close? You can see what it would have defaulted to under Tools | Setup | Financial | General Ledger. However, that does not mean it was not changed to something else during the close.

    For the TB - it may be that you're printing a modified report that is not working properly. If that is the case, you could test switching back to the unmodified report to see if it works. Or...if you're ok with getting the data a different way and GP is not your live system anymore anyway, you may decide it is not worth spending time on.

  • dougwhiterules2000 Profile Picture
    dougwhiterules2000 110 on at
    RE: YE close issues, very odd

    The issue I have with the RE is this: the RE at 12/31/12 is exactly the same as the RE on 1/1/13. However, all my P/L accounts start eh year with a zero balance. It’s like they got closed out somewhere, but not RE?

    For the TB, I have been doing as you suggested – history is selected under year. It returns no data. However, I can get the data from a smartlist. So, the data is all still there, I just now go about getting it a different way.

  • Victoria Yudin Profile Picture
    Victoria Yudin 22,768 on at
    RE: YE close issues, very odd

    I just want to make sure this is not a 'terminology' issue - when you close 2012 retained earnings (RE) will not update in 2012. It will update at the beginning of 2013. So, assuming calendar fiscal year, RE at 12/31/2012 will not equal 2013 RE beginning balance. The difference between the 2 will be the sum of all your P&L account balances at 12/31/2012. Similarly, the P&L accounts will not zero out at the end of 2012, 12/31/2012 will show a balance for them and only the beginning balance for 2013 should be zero. If this is not what you're seeing or I am misunderstanding what you're asking, can you please elaborate?

    For the issue with the 2012 TB - are you running it in GP? If so, are you getting an error? If it is simply not printing anything, make sure that you're selecting History under the year section - if you had a report saved with 2012 and Open or Current selected under year, this will not update automatically when the year is closed, you will need to manually change it.  

  • dougwhiterules2000 Profile Picture
    dougwhiterules2000 110 on at
    RE: YE close issues, very odd

    Just bizarre. As I said, I would expect that if the entry was a total failure then the P/L accounts would show a beginning belance for 2013 - but they do not. Yet the "Year End entry" printed is blank.

  • Community Member Profile Picture
    Community Member on at
    RE: YE close issues, very odd

    That is strange.  

    Couple of approaches -

    Restore from backup.   Besure that Balance Sheet and P/L accounts are marked correctly.  Do the close again.  Look carefully at the JE the close process prints out and see where the offset to all the P/L accounts is posted to.   Troubleshoot from there.

    Other option is to follow Customer Source Article: 857310.   It tells you how to adjust beginning balances.   BUT the issue will be that a balanced entry is required.   So if one side is to your RE account, where does the other side belong?

    You really need to figure out what account got hit instead of your anticpated RE account, no matter which approach is taken.  

    Very doubtful the Year End close entry was out of balance.  But, its software.

    Warren

  • dougwhiterules2000 Profile Picture
    dougwhiterules2000 110 on at
    RE: YE close issues, very odd

    anybody?

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