Trying to Figure Out What's Wrong With my Transactions/GL Setup

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Posted on by Community Member Microsoft Employee

Hi Everyone,

I have a similar post related to MR out there, but I believe the real issue lies in the GL. Any suggestions are always appreciated.

I've currently been adding in historical transactions amounts into our test company. We originally believed we would post two years worth of historical data, making our first year 2013. We later changed this to one, and I closed the fiscal period 2013 (is fiscal year, i went to 2013 and pressed mass closed all since there wasn't any transactions/actions). We still have 2014 open, and i'm currently adding transactions into GP. The first round of transactions I placed in for 2014 (the Jan. month summaries for each account) aren't showing up in MR, but they show up in GP under account history (see pictures). The next three month summaries I entered are showing up in MR (feb-apr). However, when i entered these transactions and reviewed the general posting report, I have some strange errors.

1. I ran the transactions for 4/30/14 and it showed transactions being entered for this date, 3/31/14 (the transactions I entered by these) and 12/31/14... which i didn't enter at all.

2. if you follow the pictures, I always highlight the last transaction account that I entered. Note that gp changes the account name/description to the retained earnings account over and over at a certain point for probably half of my transactions. However, when i look back in history, they seem to have went to the right account... odd... It's hard to explain via a post.
3. Lastly, if you notice the last picture, you can see the the account history isn't calculating correctly - or I don't believe so. I have minimal experience with GP, hence the extensive testing with the test company!

If anyone has any observations or suggestions as to what i should try to fix these issues - it would be greatly appreciated.

Thanks!

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Community Member Microsoft Employee on at

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RE: Trying to Figure Out What's Wrong With my Transactions/GL Setup

Hi All,

Just wanted to update you guys. I was able to fix the 2014 historical year. There were a few issues. 1 - I was putting in ending month balances - this was because our old system would actually calculate the transaction amount. 2. Taking Seans advice, i unchecked 2014 as a historical year, and ran the data (after fixing the historical amounts to be monthly transaction amounts - not monthly totals). Long story.. it's fixed! I appreciate all of your help.
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drummerboy_10 15 on at

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RE: Trying to Figure Out What's Wrong With my Transactions/GL Setup

Kim -

Assuming you aren't going to keep data for 2013, then marking it as a historical year makes sense since you're only going to load the ending balances for the 2013 year. I would uncheck 2014 as a historical year, load all your 2014 historical data and then do a complete year end close on the 2014 data, run your reports and see what you get.

--Sean
Community Member Microsoft Employee on at

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RE: Trying to Figure Out What's Wrong With my Transactions/GL Setup

Hi Sean and Bill, sorry for no updates - I've been busy with other tasks the last couple of days. I've figured out the currency issue. As for the fiscal years, I think you guys might be on to something. It would make since it was trying to prepare the year end close. Here are the fiscal year setups.

Thanks!
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Bill Campbell 22,647 on at

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RE: Trying to Figure Out What's Wrong With my Transactions/GL Setup

While we are at it can we look at the currency setup window as well - you have the $$ matter that seems to be directly related to the currency configuration.

send a screen shot for that as well.
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Bill Campbell 22,647 on at

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RE: Trying to Figure Out What's Wrong With my Transactions/GL Setup

Kim, can you post the Fiscal Period setup screens for both 2013, 2014 and 2015 as it appears that the system is generating entry into the closed year - which means it posts to the expense account and then does a reverse to the retained earning at the 'end of the year'

Lets see what the Fiscal Year Setup looks like.
drummerboy_10 15 on at

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RE: Trying to Figure Out What's Wrong With my Transactions/GL Setup

Hi Kim -

How's your progress coming along on this issue?

--Sean
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drummerboy_10 15 on at

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RE: Trying to Figure Out What's Wrong With my Transactions/GL Setup

I suggest starting with this:

1. Unmark 2014 as a historical year in the Fiscal Period setup window

2. Open the December financial period for 2013

3. Enter all ending balances for the appropriate balance sheet accounts and close the period.

4. Verify all ending balances now show properly as beginning balances (inquiry)

Re-run your reports and let's see what we get.

--Sean
Community Member Microsoft Employee on at

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RE: Trying to Figure Out What's Wrong With my Transactions/GL Setup

No, I didn't enter the ending balances for 2013. Yes, 2013 and 2014 are historical years. Thanks for you help Sean!
drummerboy_10 15 on at

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RE: Trying to Figure Out What's Wrong With my Transactions/GL Setup

Hi Kim -

Let's see if we can figure out what's going on. I understand you were going to enter two years of historical data (2013 and 2014) but decided to just go with one historical year (2014). That being said, at the end of 2013, did you enter the ending balances for all balance sheet accounts so they would become the beginning balances for 2014?

In the fiscal periods window is 2013 marked as a historical year?

--Sean