TIPS TO EXPEDITE YOUR YEAR-END

This is the time for you to review the Microsoft Dynamics GP year–end closing procedures.  We wanted to share some valuable tips to help you expedite the process and take some time off.

Year-End Closing Procedures: First of all make a backup of your databases BEFORE doing the year-end close.  Secondly review the closing procedures for each module being closed, make a checklist of the steps to follow and close the modules in the correct order.

Close Order

In GP 2013 the order that the modules should be closed are listed below:

  • Inventory Control
  • Receivables Management
  • Payables Management
  • Fixed Assets
  • Analytical Accounting
  • General Ledger
  • US Payroll/Canadian Payroll

Payroll
For customers who use Microsoft Dynamics GP Payroll or Canadian Payroll, it is extremely important to complete all 2013 pay runs prior to processing payroll year-end procedures.  .

Resources available for Year-end close

Below are some resources that contain information regarding year-end close procedures, demos, FAQs, and blog articles about year-end close.

Year-End Information on CustomerSource:https://mbs.microsoft.com/customersource/support/downloads/taxupdates/

Here you will find year-end updates, instructions and tax updates. Instructions for downloading and installing the updates are also provided here.

Links to Closing Procedures

Analytical Accounting: http://support.microsoft.com/kb/960356

General Ledger: http://support.microsoft.com/kb/888003

Fixed Assets: http://support.microsoft.com/kb/865653

Inventory: http://support.microsoft.com/kb/872713

Payables: http://support.microsoft.com/kb/875169

Payroll: http://support.microsoft.com/kb/850663

Receivables: http://support.microsoft.com/kb/857444