YE Close and Balance Brought Forward

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I want to go through the process of officially closing prior year (2016) and brining balances forward into 2017 so we can start to close January 2017. However, we may need to still book journal entries into 2016. Is this possible after closing prior year? If so, what do we need to do to bring new balances forward?

Using Microsoft GP 2015.

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Community Member on at

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RE: YE Close and Balance Brought Forward

Close the year (Financial - routines - year end close). Then go back and open just the last period for Financial.

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Ian Grieve 22,784 on at

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RE: YE Close and Balance Brought Forward

There is an option in General Ledger Setup which allows posting into the last historical year.

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L Vail 65,271 on at

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RE: YE Close and Balance Brought Forward

If you have the box checked that Ian referred to then you will be able to open the GL entry screen and enter transactions just as you did before the year was closed. GP allows you to make entries to the year most recently closed. When you post the entry, you will see that two entries come out on your posting journals. That is normal. What happens is one journal entry posts to 2016 and the other journal entry rolls it forward to adjust the beginning balances of 2017

Kind regards,

Leslie

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