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

Management Reporter and Microsoft Forecaster

We often get asked the question from our customers and prospective customers, “What will the future hold for Management Reporter and how does Microsoft Forecaster fit into that future?”  There are big plans for this reporting tool from Microsoft.  As many of you know Management Reporter just released their latest version, Management Reporter 2012.  There were many needed enhancements to Management Reporter included in this new release, highlighted here  . However, there was no functionality added that involves forecasting or collaborative budgetting for Management Reporter for Dynamics GP or Dynamics AX (as well as other Microsoft ERP products).

What about financial forecasting and collaborative budgetting?  What are the plans for Management Reporter and these important areas?  I spoke to a reliable resource close to the Management Reporter and Microsoft Forecaster teams and I was told that there are no immediate plans to add this functionality into Management Reporter.  The team will continue to support this functionality in the existing Microsoft Forecaster 7.0 tool, and for the foreseeable future they will rely on this product and the other 3rd party applications out on the market to meet this need.

Look for more exciting enhancements to Management Reporter, but don’t look for a collaborative budgetting or forecasting tool any time in the near future.