Year-end can be a hectic time for everyone, especially if you work in the accounting/finance department. So in the spirit of giving, we would like to offer all Microsoft Dynamics GP users a few tips and tricks that will assist you with your successful year-end close.

Check for accounts with an incorrect Posting Type…use smartlist (Financial>Accounts).

The user performing the close must be the single user logged into GP. Query the ACTIVITY table in the DYNAMICS database.

Include a Divisional account or Allocation account to Close to Retained Earnings when you need to reflect more than one account for the profit or loss based on division or member equity accounts.

Click Close Year one time. If you click more than one time, you will close more than one year during the process. Review the progress window (Microsoft Dynamics>Process Monitor) and let the process continue.

If your database is large and you are performing the process after hours then give yourself enough time to complete the closing process before midnight when the system time and day changes.

Print reports to a file in a folder to be accessed later…don’t print to paper and save a tree.

And remember…one GP database at a time!

For additional assistance with your Microsoft Dynamics GP Year-end Close, register for a FREE Microsoft Dynamics GP Year-end Closing Procedures Training Class and/or sign up for our Customer Care Support Program!

Join FMT Consultants on December 8th, 2011 for our last 2011 Microsoft Dynamics GP Year-end Close training class. One of our experienced consultants will share best practices related to month-end and year-end closing procedures for your Microsoft Dynamics GP 2010 system. We will cover General Ledger, Accounts Payable/Accounts Receivable, Inventory and payroll.