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By design, GP only allows posting to the most recent historical year. Is there a way around this? I need to make a correcting entry to historical years before the most recent.
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Hi Leslie -
This is GP10. I ran the YE close again and now the is marked Historical (which is good) but the P&L still did not close to the Retained Earnings. I ran some posts about a one sided entry in the closed year to update the RE beginning balance, but I'm still not clear on how the entry will be cleared from the year that closed. Any suggestion?
Hi Leslie -
Coming back to this old post. I sent a separate post regarding the issue I'm having. I ran the Year End close on GP 10.0 and it completed except that the year is not marked as "Historical", it's still open. I tested it to see if it's going to let me manually mark it historical in the Fiscal periods setup screen, the message was that "you cannot mark this year as a Historical year. Open-year balances exist for it". The BS accounts were brought forward correctly, but the P&L accounts did NOT close to Retained Earnings. My question is: if I make the JE to close the P&L accts to Retained Earnings, will it let me check that Historical option? PS: restore from backup is not an option.
Susan,
I didn't know there was a restriction on which SP you were running, can you not load a newer SP? Absent that you are going to have to perform what I call file surgery by adding the records to the 'back end' with SQL to mimic real GL transactions. You'll need to add the entry to the history year as well as each year after that. The closing period is period 0. I've done it many times. You need some quiet time to be sure you can follow through with each year. Even using the PSTL tools, you would have to create the 'closing' entries. The PSTL tools take half of the work away because you can actually post an entry and then move it to the 30000 table.
Kind regards,
Leslie
Leslie: Had always been able to do this and ran into it often with the recession and companies needing to restate their financials often 3 years back. I'm now running into this and only have SP2 for GP2010 which means I can't load professional services tools. Is there a script that can be run. I thought all it did was open change the field on the company from historical to open and then go back in and change it back? Help. I have have the auditors coming in on Monday and need to run trial balances and upload all these entries.
You can use one of the tools in the Professional Services Tools Library to 'open' a closed year. The transaction will not 'roll forward' the balances, so you need to be sure to follow through with other postings.
Kind regards,
Leslie
If you need to update the gl only and the entry will not affect retained earnings, the entry can be inserted using a sql statement into gl30000. i would recommend contacting your var.
Which module are you trying to post into and have you closed off the financial year for the GL in tthat year?
Sorry, just read the posting properly. You will probably need professional services assistance to open up the year (and intervening years) to get this sorted.
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