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Is it possible to undo the closing of a year if after closing it is discovered that the posting type for a major balance sheet account has been flagged as Profit and Loss?
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Hi Rogger,
You can not undo year-end closing. Changing posting type will be your options, please refer the KB article form Microsoft on the same.
support.microsoft.com/.../864913
Check with your Microsoft Partner. I'm pretty sure Microsoft Support has the ability to reverse a year end close for you.
Hi Frank,
I didn't know this is possible till now. Is this done on database level.
I'm not sure Babu. However, the fact that reversing the Year End Close is now available in 2013 R2 and 2015 to me implies that they've known how to do this previously and have just now incorporated it in the application.
It would be nice to be involved in such discussion. While the feature of reversing "Historical Year" is not a feature in previous versions of Dynamics GP prior to GP 2013 R2, it is definitely possible on the database level. The link provided by Babu is a corrective procedure that is considered why you close the year, while an account has been incorrectly defined in terms of the posting type (balance sheet / profit and loss).
I have previously analyzed the technique considered by MS to do so in 2013 R2, here is Dynamics GP Essentials post on GP 2013 R2 – Reverse Historical Year . In brief, there is a stored procedure [GLReverseHistYear] in the company database which does the job.
Although, you should keep in mind that doing so is not a piece of cake, and should not be considered unless you have a consultant involved. Which is why calling Microsoft for this inquiry would be the easiest way out.
Please never hesitate to share any further inquiries,
With Dynamics GP 2013 R2 you can accomplish this. GO To Microsoft Dynamics GP > Tools > Routines > Financial > Year End Closing and select 'Reverse Historical Year'.
Have all users log out first. You can reverse multiple years - but you should reverse the most recent year first and work back. The original year end closing journal is deleted by this process...not voided. This process also reverses the Analytical Accounting year end if you are using AA.
Ian.
Absolutely! I just encountered this very thing. I followed these steps exactly and it worked like a charm!
mbs2.microsoft.com/.../kbdisplay.aspx
And this was done without accessing the database or having any users log out of GP.
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