Suppose you have adjustment or audit adjustment need to post to recent closed financial year, there is a feature Dynamics GP allows you to do so. When you posted the adjustment, system will automatically adjust the beginning balance in the new financial year. Refer steps below on how to post a prior year adjustment. 1. Make sure the Post to Historical Financial Year feature is enable. Path: MSDGP > Tools > Setup > Financial > General Ledger 2. Fiscal Period for the adjustment to be posted is Open. 3. Enter the prior adjustment using Transaction Entry in Financial. 4. Remember to select "AUDIT" from Source Document. *** Take note that user no need to enter Retained Earning account as system will auto adjust. 5. Print Edit List report before posting. You will notice another entry will be auto created to adjust Retained Earning account at the same time. 6....
Act as Microsoft Dynamics GP Consultant nearly 10 years now, based in Malaysia. Following an early career as statutory auditors and independent accountants to a range of growing businesses in the finance industry, later moved into the area of IT in business with the expansion of technology. Offering implementation, support and training Microsoft Dynamics GP to customers for more than 10 projects across ASEAN region. Now we are offering Dynamics 365 Business Central implementation too.