Have you ever wished you could re-open one of your historical years?
Dynamics GP2013 R2 now makes this possible! A new feature was added that allows you to reverse a historical year.
When you reverse a historical year, the original Balance Brought Forward (BBF) journal entry gets removed from the system. Then when the year is re-closed, a new BBF entry is created. Once the year is re-opened, this allows you to post adjustments in the GL and when ready, you can re-close the year.
Always remember to make a backup of your company database prior to re-opening (and re-closing) your Fiscal Years in Dynamics GP!
Before opening the oldest historical year, run the following SQL statement against the company database:
SELECT * FROM GL30000 WHERE HSTYEAR = ‘XXXX’ AND SOURCDOC <> ‘BBF‘
Replace XXXX with the actual oldest year setup in the company.
NOTE: To check what your oldest year is, go into Microsoft Dynamics GP | Tools | Setup | Company | Fiscal Periods, and click the Year drop down.
If results show up in the SQL query, you are safe to re-open the year.
If results do NOT show up in the SQL query, DO NOT PROCEED WITH RE-OPENING THE HISTORICAL YEAR. If you proceed with re-opening the historical year, all BBF entries will be removed for that year, and no data will be recreated.
Steps to reverse a historical year:
1. Have all users log out of Dynamics GP and make sure you have a recent backup of your company database.
2. Go into Microsoft Dynamics GP | Tools | Routines | Year End Close
3. Click on the Reverse Historical Year button
a. The most recent historical year defaults into the screen
NOTE: You must re-open the historical years in order of most current to oldest.
4. Click on the Process button
a. Before the reverse starts you will get the following message:
b. If your backup has been done, click Continue
c. After the reverse is completed you will get the following message:
d. Press OK
5. Run the GL Reconcile utility on the open years in the order from oldest year to most recent year. This can be found under Microsoft Dynamics GP | Tools | Utilities | Reconcile.
6. Mark the Year option
7. Select the oldest open year from the drop down list
8. Click the Reconcile button (No report will print out during this process)
9. Continue reconciling each year from oldest to most recent
NOTE: You can now enter any adjustments in the year(s) you have re-opened, and when ready you can re-close the year(s).
NOTE: The steps to re-close the year are the same as when the year was closed the first time.
You can now run your GL Trial Balance reports and Financial Statements to confirm you get the results you are expecting!
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