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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Multiple year end close
Microsoft Dynamics GP (Archived)

Multiple year end close

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Posted on by Tricia Rennie 560

Hi,

My company is now going to attempt to close from 2006 to 2008 because they have now been able to complete the auditing and adjusting of figures for those years.

The subledger modules (ie Sales, Purchasing, Inventory, Fixed Assets) do not have a year specification for close off. So does this mean I could run the year end close procedure once for the subledger modules and then close off each year in the GL because thats the only place where I can specify a year to close?

Any suggestions?

 

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  • Suggested answer
    Richard Whaley Profile Picture
    Richard Whaley 25,195 on at
    Re: Multiple year end close

    Our book, Closing GP explains this.  The ONLY thing that closing subledgers does is move current year to date accumultors to the prior year and then clear the year to date amounts.  If you have not closed the subledgers either, then you have several years worth of transactions in the current year to date fields anyway.

    I don't see an issue with what you want to do.  You should have closed each year at the end of each year in the subledgers any way as it does not affect GL.  GL could have been closed with auditor adjustments made later.  Even if they need to be made several years later, there are ways to accomplish this.

    Get a copy of Closing GP from our web site.

  • Suggested answer
    Community Member Profile Picture
    Community Member Microsoft Employee on at
    Re: Multiple year end close

    Subledger modules does not perform "Major" modifications on the database, all a matter of reporting and inquiries, you major close is the GL closing.

    You can proceed with closing subledger once and close the GL once per year, all information related to the yearend closing procedures and effect are summarized in the following article by Sandip:

    sandipdjadhav.blogspot.com/.../dynamics-gp-year-end.html

    Make sure to have a full database backup for ALL you databases before performing yearend close!

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