If you have never closed a year in GP2010 and need to start with the first year it was used (in this instance, 2012), do you change your system date to the date of last day of that period? i.e.: 12/31/12?
Thanks!
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Thanks to iruser2 as well as Leslie and Bill!
I appreciate the help.
:-)
Hi Leslie, thanks for the reminder of the table lookup - I in my hast had forgotten the system will not allow you to skip years.
Thanks again.
Hi Bill,
I love it, you old dog!
The system does read the date of the last closed year and closes the next year no matter what the system or user date may be. That's why you do not have to know the date of the year you are closing. In fact, you can't choose. Take a look at TWO, I think the only date it has closed is 2013. It won't let you skip ahead to 2015 and close that year without first closing 2014. Specifically, it looks at the value of the SY40101 table and picks the next year that is not closed - it's looking at the HISTORYR column. I went in and changed the data in SQL to see if I could confuse it, but it still picked the oldest unclosed year to close.
Kind regards,
Leslie
Leslie,
We are old school for sure . . .
So, you feel that the date of the close is not taken from the system, but from the end date of the fiscal period and that is good enough?
I know that way back it was drummed into me to ensure posting to correct period you should change date.
I will deferr to your considerable knowledge and research on the matter and will now reconsider. But you know, it is almost impossible to teach a 'really old dog' any kind of new or better tricks, especially a 'male' dog . . . . my wife will kill me for that - but hey, live on the edge.
Bill
Bill,
I rarely disagree with you, but I do on this one. You know I'm about as old school as you can get, but I don't change either the user date - and especially not the system date - before closing the year. If the system is ever going to record the date it happened, I want it to be the real date. Not a big thing, but research-wise it might be helpful.
Kind regards,
Leslie
I am from the old school of thought and by default when I close a year I always change my user date to that end of year date.
While it is not necessary - it is good practice.
Advice on the balance sheet and P/L class for the COA is very good as well.
No you don't need to change your system date. As long as the fiscal year is set up properly the correct date will be used.
Be more wary of checking to ensure that all balance sheet accounts are set and balance sheet accounts and income statement accounts are set as profit loss. (smart list is a good tool for this).
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