CLOSING FISCAL YEAR -ACCOUNTS PAYABLE

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Posted on by Juday

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Will there be a problem if our transaction date when entering invoices is 09/30/2013 but posting date is October 1, 2013? We are trying to enter transactions for Fiscal year ending 09/30/2013.

We just recently converted our system to using GP dynamics.

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L Vail 65,271 on at

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RE: CLOSING FISCAL YEAR -ACCOUNTS PAYABLE

If you are trying to establish a beginning balance, you need to be posting to the gl as of 9/30, the transaction date of the sub ledger should be the Real document date in my opinion. Your aging will be correct that way.

Kind regards

Leslie
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Richard Whaley 25,195 on at

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RE: CLOSING FISCAL YEAR -ACCOUNTS PAYABLE

If your posting date is October 1 then the transaction will appear in GP with the October 1 date. You need to change the posting date back to 9/30 if these are "last year" transactions.

We have just released our updated book Closing MS Dynamics GP. You might want to get a copy of this or some of our other books.