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Post General Entries after you close year

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Posted on by SaraLei

I want to close 2019 General Ledger to start 2020 financials, but the CPA has not completed the 2019 year-end Adjusting Entries . Can I close 2019 to start 2020 financials and then post the CPA's Year-end Adjusting Entries?

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Microsoft Dynamics GP

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Richard Wheeler 75,848 Moderator on at

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Absolutely you can. GP has always allowed you to post to the previous year after closing. Just make sure it is the previous year and not any further back.

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Josh Page on at

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To follow up on Richard's comment,

You can only post to the most recent historical year and you need to have the option "Poting to History" marked in the general ledger setup window.

When you post to a historical year it will look a little "odd" you will have the original posting on the expected date and you will also see a second copy of the JE updating the beginning balance period of the oldest open year (balance sheet accounts on the original will come across directly and P/L accounts will update the RE account).

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