Having lost don't know whether you have completed all the task in Dynamics GP during month end closing? Follow the top 5 tricks below to counter check all your account is in order.
1. Has all the batches in Purchasing Module, Sales Module, Fixed Asset and last by not least, Financial Module posted? You may have a quick check using "Master Posting". This screen allows to post multiple batches from different modules.
Path: MSDGP > Tools > Routines > Master Posting
2. Have you make sure all the sub-ledgers tally to GL control account? You can print out the Historical Aged Trial Balance from Purchasing or Sales to match against the GL control account in Financial Trial Balance. Alternatively, you may use the "Reconcile To GL" tools which available in Dynamics GP all version. Just enter the parameter and the modules that you are comparing, Dynamics GP will match the document automatically and generate the result in Excel. For more info on how to use it you may refer to my previous post regarding this topic:-
Looking where to print out Sales or Purchasing Aging Report? You may refer to the link below:-
3. Do you have documents transact in foreign currency? Don't forget to perform Multi-Currency Revaluation. Performing Multi-Currency Revaluation will revalue the outstanding transactions or Balance Sheet item with Current Rate (some they call Closing Rate) to get the Unrealised value. Read more at:-
4. Once the month end process is done, don't forget to lock the period from user accidentally posting transaction to closed month. You can prevent this by closing the period using "Fiscal Periods Setup". Once you’ve completed period-end procedures, you can prevent future posting to that period.
Path: MSDGP > Tools > Setup > Company > Fiscal Period
Do you have any question regarding Dynamics GP? Feel free to drop me an email, I will reply one of your question.
1. Has all the batches in Purchasing Module, Sales Module, Fixed Asset and last by not least, Financial Module posted? You may have a quick check using "Master Posting". This screen allows to post multiple batches from different modules.
Path: MSDGP > Tools > Routines > Master Posting
2. Have you make sure all the sub-ledgers tally to GL control account? You can print out the Historical Aged Trial Balance from Purchasing or Sales to match against the GL control account in Financial Trial Balance. Alternatively, you may use the "Reconcile To GL" tools which available in Dynamics GP all version. Just enter the parameter and the modules that you are comparing, Dynamics GP will match the document automatically and generate the result in Excel. For more info on how to use it you may refer to my previous post regarding this topic:-
Looking where to print out Sales or Purchasing Aging Report? You may refer to the link below:-
3. Do you have documents transact in foreign currency? Don't forget to perform Multi-Currency Revaluation. Performing Multi-Currency Revaluation will revalue the outstanding transactions or Balance Sheet item with Current Rate (some they call Closing Rate) to get the Unrealised value. Read more at:-
4. Once the month end process is done, don't forget to lock the period from user accidentally posting transaction to closed month. You can prevent this by closing the period using "Fiscal Periods Setup". Once you’ve completed period-end procedures, you can prevent future posting to that period.
Path: MSDGP > Tools > Setup > Company > Fiscal Period
Do you have any question regarding Dynamics GP? Feel free to drop me an email, I will reply one of your question.
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