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Hi,
We are working with Dynamics SL 2011 and our administrator accidentally closed the period as a year and hence the year end processes for closing of GL have been performed. Is there anyway to reverse this process?
Thanks for your help in advance.
S
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Many thanks for the information, Rick. This is exactly what I was looking for. For now, since we have transactions in the subsequent period, we are going to leave it as is and manually add up the numbers by exporting to excel. Luckily, it is only 3 months that we will have to do so.
Best,
S
That changes everything. When the year was closed the system created new accthist records, created the retained earnings batch that cleared revenue and expense and set the beginning balances for the balance sheet accounts in the new year to the year end values of the outgoing year.
So, you have a couple of issues. First, revenue and expense have been cleared. Second, you have premature accthist records with premature beginning balances for the new year. On top of that, the system has record the fact that you are in a new fiscal year so any postings you have done to the old fiscal year for revenue and expenses keep getting moved to retained earnings. Unless the user was watching, it is possible that the posting period on any GL batches could also have the wrong fiscal year.
I am assuming that postings have continued (to perhaps the old fiscal year and to the new fiscal year since the mistake was made such that fall back to a backup is not a very viable option.
A simple query can be run to change GL back to the prior year and to delete the premature accthist records (if no post transactions have been done to the new fiscal year). However, you have to reset the revenue and expense balances in the closed period and adjust retained earnings. This could be done by turning on initialize mode and using the account history screen or you could create one big JE batch and post it to the month that got cleared. Before doing any of that, you would want to make a backup and confirm what the outgoing accthist looks like for revenue and expense. You could run the detail general ledger report for revenue and expense to get the necessary numbers.
However, if you have posted transactions to the new fiscal year, the above will not work without a whole lot of additional work. You really have to look closely at what has been posted (not just released) since the incorrect closing.
As you can tell, there is no easy fix for this. There is no undo fiscal year close process. There might be some other options involving restoring a backup before the close into a temporary database and then exporting records to accthist from that backup to the live database but you really have to know what you are doing to pull that off. I am sort of surprised that the user even could do this. If you try and close the fiscal year when you are not in the last period of that year, the process tells you it was an invalid selection and stops you so I am not even sure how the user did this. I am questioning if what you say happened is actually the situation.
Thanks for your response, Rick. Maybe I didn't clarify enough. But the issue is not the retained earnings. The issue is that it has been closed off in the middle of a fiscal year. This means that my balances have become zero in the middle of a year and although we can possibly add the 2 periods, it is still an extra work every month which we were wanting to avoid.
There is no need to reverse the process. SL knows that you closed the year so it will automatically adjust your retained earnings for any batch that you post to the prior year. This means you can continue to post to the prior year without issue. However, if you have the GL option set to not allow posting to a prior year, you will have to temporarily clear that setting if you do have batches to post to the prior year and then you can re-enable that setting when done.
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