Tag: Dynamics GP sub-ledger

Posting to a Closed Year in Microsoft Dynamics GP

Recently, we received the question of whether a user could enter a journal entry for an adjustment to a closed year in Dynamics GP.  The answer is that, this is possible depending on how far back you need to post. The rule follows that you cannot post to more than one closed year.  So if I have closed 2012, I can only post back to 2011 and no further.  As such, when closing the current year, it is a good idea to verify that all closing entries and adjustments to the previous year have been made.

Let’s say you are ready to close 2012 but need to post a JE adjustment for 2011.  To do this, you will need to reopen the fiscal period in which you will be posting by navigating to the Fiscal Periods Setup window.  Go to Microsoft Dynamics GP > Setup > Company > Fiscal Periods.

Select the year that needs to be reopened.  Then, deselect the appropriate checkbox corresponding to the period and module you need to reopen. In my case, I have deselected the Financial module for December of 2011 because I need to make a journal entry adjustment to December 2011

General Ledger post to a prior fiscal year in Dynamics GP

Next, you will need to verify that you are allowed to post to history.  Verify that the Allow Posting to History option in the General Ledger Setup window is selected. Go to Microsoft Dynamics GP > Tools > Setup > Financial > General Ledger.

General Ledger

Now, you are ready to create and post your transaction entry for the closed year.  Once you are finished, go back to the General Ledger setup and unmark the Allow Posting to History option (you may leave it marked if that is the default setup), and close the same fiscal period that was opened earlier, using the Fiscal Periods Setup window.

Navigation Paths:
General Ledger Setup – Microsoft Dynamics GP > Tools > Setup > Financial > General Ledger
Fiscal Periods Setup – Microsoft Dynamics GP > Setup > Company > Fiscal Periods

If you do need to post to more than one closed year, Microsoft does offer a service to achieve this.  For more information, please contact support@trideapartners.com.

View relationship between Sub-Ledger and GL in Dynamics GP

How many times do you wish that there was report that would show you the link between a sub-ledger and the GL? Here is a little trick that will help you see some of this sub-ledger information through a GL Smartlist. It can especially come in handy when reconciling your Accrued Purchases account as there is not a routine to help you through this process.

Here are the steps:

Go to Microsoft Dynamics GP > Smartlist. Expand the Financial Folder and then Expand the Account Transactions folder.

Click on the default Smartlist indicated by an asterisk.

Sub-Ledger and General Ledger Smartlist

Click on the Columns button and search for the word Originating. This will bring you to fields such as Originating Master ID, Originating Master Name, Originating Document Number and so on.

These will be the originating Master Record and document information that generated each Journal Entry. The Originating Master ID will be either the Customer ID or Vendor ID depending on which module the Journal Entry originated in. When reconciling your Accrued Purchases account for instance, you can restrict the list to the Accrued Purchases GL Account and then export this data to Excel.

Then take your Credits minus your Debits to get the net changes and subtotal by Originating Master ID to get your Vendor received not invoiced totals.

This list can then be compared to the Rec’d/Not Invoiced Report subtotaled by Vendor. By doing this, you will easily be able to determine what vendor or document is causing issues and more easily resolve the discrepancy.

Sub-Ledger and GL in GP