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Year End - Undo previous close

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Posted on by Sallyann T

Hi,

I've already done year end, however, I've had essential journals i've posted in period 12 since then. When I re run financial year close, where you enter the voucher reference, underneath it there's a toggle called 'Undo previous close', now should this be on 'no' or 'yes'. As if I click on 'no' does that mean all of the previous P&L entries are transferred again to period 13 and rolled forward? Should it be on 'yes' so everything is re done together old and new? However in General Ledger > LedgerSetup> General ledger parameters, I've selected 'yes' Delete close-of-year transactions during transfer', which should delete opening transactions if i wanted to rerun the financial year close process. I just need confirmation of what it will do really.

Thanks

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saurabh bharti 15,039 Moderator on at

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Hi Sallyann,

Best way to set the parameter as "Yes" so that if you have run the closing process for the same period earlier then system will recalculate the balances again based on changes. Other wise system will not post any difference.

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Ludwig Reinhard Microsoft Employee on at

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Hi Sallyann T,

Setting the parameter 'delete close of year transactions' to yes is against most accounting regulations I am aware of because if you re-run the year end close, the previous voucher will really be deleted from you system. If the parameter says 'no' then only the changes made in the previous year will be re-considered in the year end closing process. The disadvantage of doing that is of course that you will have multiple vouchers created.

Best regards,

Ludwig

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Sallyann T 75 on at

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So i need both parameters to be selected on 'No'?

General Ledger > Ledger Setup > General ledger parameters

‘Delete close-of-year transactions during transfer' you want this selected to 'No'

And

Click 'run financial close' at top of form, select the entity and click OK

Enter parameters top right

Financial year Voucher

2019 YELCD-V.1

Period name Undo previous close

Period 13 'No'

Thanks

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Ludwig Reinhard Microsoft Employee on at

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Good Morning Sallyann T,

Personally, I would select:

‘Delete close-of-year transactions during transfer' : NO

I don't have a NO/YES parameter to 'run financial close'.

Do you refer to this selection field shown in the next screenprint or something else?

Best regards,

Ludwig

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Cristina 373 on at

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Check Docs: community.dynamics.com/.../year-end---undo-previous-close

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