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
