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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Need to post a cash tr...
Microsoft Dynamics GP (Archived)

Need to post a cash transaction in a closed year.

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Posted on by Community Member

I need to post a decrease adjustment in Bank Transactions and then post the equivalent in Cash Receipts in sales into Dec 2015, which is closed.   I have made journal entries before into a closed year and it worked fine.  But never cash.  I use bank rec too so I would have to reconcile those transactions in bank rec.   Anyone have any advice, comments? Can this be done?  Thanks.

Shelagh

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  • Community Member Profile Picture
    Community Member on at

    What version of GP are you using?

  • Community Member Profile Picture
    Community Member on at

    GP 2013

  • Verified answer
    Community Member Profile Picture
    Community Member on at

    Hmmm. If you had GP 2013 R2 you could re open the fiscal year, post your transaction, close it again and be none worse for the wear.  However, in GP 2013 I don't think that feature exists.

    There's another option though. I'd try this in test and validate the results before doing it in production.

    On the bank transaction entry screen, enter your transaction using a 2016 date, then click the expansion arrow next to the transaction date field and change the GL posting date. This will post to the GL in 2015 and your checkbook in 2016.

  • Community Member Profile Picture
    Community Member on at

    Thanks...it appears I do have R2.     I took a chance knowing that I had already posted a journal entry into the closed year and it worked perfectly.  However I can't reconcile cash transactions I think until an open reconciliation in 2016.   If I reconcile back to Dec 2015, I think it will remove all my future reconciliations.   Thanks for the response.

  • Community Member Profile Picture
    Community Member on at

    If you have R2, you can re-open the fiscal year and enter the transaction with the correct date.

    I'm not sure I follow what you're saying though, if the transaction was missing from GP since 2015 I assume your checkbook balance would have been off by that amount for the past 8 months. Can you clarify?

  • Community Member Profile Picture
    Community Member on at

    No ...cash was correct because we put an increase adjustment in for cash instead of posting cash receipts.  So the decrease adj lowered the cash and posting the cash receipts/ deposit brought it right back up.  It's my AR that's been off.

  • Community Member Profile Picture
    Community Member on at

    At what point did your AR go out of balance? Here's how I'm understanding:

    1) You invoice a customer in 2015 for

    2) Customer pays invoice, and an increase adjustment is posted in bank rec to record the cash receipt (debit to cash, credit to AR)

    3) Decrease adjustment lowers cash and offsets some account other than AR

    4) Posting cash receipt in AR removes the customer invoice from your AR trial balance, (debit to cash, credit to AR)

    5) Deposit is recorded in checkbook after the cash receipt is posted

    Is that what happened? If so, you'd probably need to investigate what happened in your GL during each of those transactions. It sounds like you need a journal entry to fix it.

    If that's not what happened - I'm really sorry, but can you provide more details?

  • Community Member Profile Picture
    Community Member on at

    Thank you for your help Michael but this issue is resolved.  

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