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