Balance Sheet Reporting Without Closing YTD in Dynamics GP

It’s almost that time again. Soon it will be time to complete another year-end close in GP. Since GP will only allow adjusting entries to the SINGLE LAST closed year in GP, it can sometimes be a scary process for users. Due to ongoing audits or other various factors, it may be inevitable that adjustments will be needed for more than just one historical year. Without closing a year, the amounts for balance sheet accounts will not roll over as beginning balances for the next year. For those instances, here is a little trick that will allow for accurate balance sheet reporting, without having to complete the official year-end process in GP.

Below is an example of a Management Reporter column definition. In this example, column B is mapped to pull YTD data from the last month of the last fiscal year. Column C is mapped to pull YTD information for the current fiscal year. Both columns B and C are configured as “non-printing” columns. Finally, column D is a calculation that adds columns B and C. Voila! Accurate balances without closing the year in GP.

 

balance sheet reporting

2 thoughts on “

Balance Sheet Reporting Without Closing YTD in Dynamics GP

  1. Thank you for this! I’ve used this and it works well except for retained earnings and current year earnings. Any suggestions?

Leave a Reply

Your email address will not be published. Required fields are marked *