Hello everyone-

Have you ever found an issue with a GL account AFTER you have closed the GL fiscal year in GP?  For example, you just realized a new account created in the 2021 fiscal year was set to Profit & Loss(P&L), but it should have been a Balance Sheet account*.  Your initial reaction is to get this corrected immediately so that it is right moving forward.  You change the account type to Balance Sheet.  You later run a report for the first month of the fiscal year and notice there is no beginning balance for this account as expected. 

You now realize that the Year-End close (YEC) was completed already and that account balance rolled into your Retained Earnings account since it was marked as a P&L account.  Since you are not able to restore from the backup made just prior to Year-End close (YEC), you decide to re-open the year using the Reverse Historical Year feature. 

You then run into an error or issue after attempting to reclose the year.  GP users are human too and don’t always troubleshoot in a TEST company first, and when you realize that now, the damage is done and a restore is not possible.

We are seeing cases with similar scenarios where a customer has attempted to re-open a closed year AFTER making a change and then getting unexpected results when the year is reclosed.   

The bottom line is we have found the best method to address this type of issue is to always ensure that the Reverse Historical Year process is done with the exact same settings/conditions that existed when the YEC process was done. Once the year(s) is re-opened that corresponds to when the mistake was made, you can then make your needed corrections (change the account posting type) and then reclose the year(s).  So, if something was incorrect in the 2021 fiscal year and that year has been closed, do not change anything.  Make a backup and restore to TEST.  Reverse the 2021 YEC and then correct the issue.  Then perform the YEC again with the correct settings and ensure the process completes correctly and your data looks as expected now. If not, or if you have questions, open a new case at that point as we are always happy to assist.

*Note if your specific scenario is the same as my example above, please follow the instructions from our KB link below:

Changing the posting type on an account - Dynamics GP | Microsoft Docs

Hopefully this saves you some headaches in the future.  Until next time!

Adam G.

Microsoft Dynamics GP